International News

UK Insurers Already Banned from Paying Ransoms to Terrorist Organizations

The UK Government’s proposal to ban the payment of ransoms by insurers to terrorist organizations, which will be officially presented to Parliament tomorrow, is in fact already inscribed in law, not only by the UK, but also by the U.S., …

Allied World Launches Network Security Insurance Product for Canada

Allied World Assurance Company Holdings AG announced the launch of Allied World North America’s privacy and network security insurance product, called Privacy//101SM, which is tailored for the Canadian marketplace. Designed for small to mid-size companies, including law firms, healthcare and …

ACE Names Waterford as Deputy Head of Accident & Health in Asia Pacific

ACE Group announced the appointment of Blain Waterford to the newly created role of vice president & deputy head of its accident & health business in Asia Pacific. In his new capacity, Waterford will head direct marketing, telemarketing, mobile assurance, …

IKEA, Ikano Group Testing Affordable Accident & Health Cover in Sweden

OMIFALL, a Swedish health insurance product for pregnant women and children, came about as a “mutual dream” between home furnishings icon IKEA and its sister company, Ikano Group. The dream was to create and easily distribute an affordable alternative to …

India’s Opposition Party Could Support Insurance Industry Liberalization

India’s main opposition Congress party signaled on Monday it could support government legislation to liberalize the insurance industry, a long-delayed reform expected to help improve investor confidence. Prime Minister Narendra Modi proposed in August to lift the cap on foreign …

ACE Authorizes $1.5 Billion of Share Buybacks

ACE Ltd., the Swiss insurer with operations in more than 50 nations, authorized $1.5 billion of share buybacks to take place in 2015. The plan replaces the authorization that expires at the end of this year, according to a statement …

Aquiline Capital Acquires Majority Stake in Beach & Associates in Toronto

Aquiline Capital Partners, a New York-based private equity firm investing in financial services, has made an investment for a majority of the equity in Beach & Associates Ltd., an independent global reinsurance broker based in Toronto, Canada. Beach & Associates’ …

Proposed UK Terrorism Law Would Stop Insurance Cover for Ransom Payments

The U.K. government will introduce anti-terrorism legislation this week requiring internet companies to provide user data to authorities. The bill, to be published on Nov. 26 and fast-tracked through Parliament so it becomes law before the general election in May, …

Cooper Gay Creates Latin American Energy Practice

Cooper Gay Miami, the Latin American headquarters of global reinsurance, wholesale and specialty broker Cooper Gay Swett & Crawford (CGSC), announced the creation of a Latin American energy practice. The practice will target regional business with a particular focus on …

ACE Announces Senior EMEA Accident & Health Appointments

ACE Group announced two appointments in its EMEA accident and health management team, as part of its ongoing investment in its consumer insurance offering across the region. Joel Laventure has been appointed to the new role of commercial director, A&H classic …

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