International News

Broker/Insurer Combo Launch Food and Beverage Industry Contamination Coverage

Willis Group Holdings has announced the launch of a new product contamination insurance proposition, in partnership with XL Group, Willis Limited’s Food and Drink and Faber Global teams, in association with BRC Global Standards – the world’s biggest provider of …

Mexico Broker AER Joins Brokerslink in Expansion Move

Independent insurance broker network Brokerslink announced that it has gained a new member in the key Monterrey corporate market in Mexico with the addition of broker AER as a member. Brokerslink’s bulletin described Monterrey as a “key corporate market in …

Sompo Japan, Nipponkoa Looking for Growth beyond Traditional Assets

Sompo Japan Insurance and Nipponkoa Insurance are already acting as one entity ahead of their merger in September. They’ve announced plans to invest “tens of billions of yen” in new areas such as energy, environment and infrastructure, mainly through private …

Willis Exec Warns Mutual Insurers Face Increasing ‘Pricing Pressure’

According to David Thomas, CEO of Market Services & Solutions at Willis, Mutual insurers face increasing pricing pressure so must differentiate themselves to remain competitive. Speaking in a video blog on WillisWire, Thomas said: “Mutuals generally take a long-term view …

Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units

PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360 million ($498 million) for Lietuvos Draudimas …

UPDATE: So. Korean Divers Search for Ferry Survivors; Re/Insurers Identified

South Korean President Park Geun Hye arrived at the site where a ferry sank yesterday, as divers battled high waves and strong winds in their search for 287 people still missing, including hundreds of students. Over 100 ships and more …

Beazley Enhances Worldwide Breach Response Services

Beazley has enhanced its Beazley Breach Response (BBR) product to include expanded privacy breach response services and broader coverage The enhancements, which will come standard on all future BBR policies, will also further improve Beazley insureds’ ability to respond to …

Best Affirms Montpelier Re Holdings and Company Ratings

A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Montpelier Reinsurance Ltd. (Montpelier Re) as well as the ICR of “bbb” and debt ratings of the parent company, Montpelier Re …

Elia Joins Argo Group as Chief Human Resources Officer

The Bermuda-based Argo Group International Holdings, Ltd. announced that Kurt Elia has joined the company as Senior Vice President and Chief Human Resources Officer. He Elia will report to Argo Group President and CEO Mark E. Watson III. “Attracting, developing …

Kerr to Head New Allied World Canada Branch Office

Allied World Assurance Company Holdings, AG announced the opening of a branch office in Toronto, Ontario to further expand its North American insurance operations. Allied World appointed Gord Kerr as Senior Vice President, Chief Agent & Branch Manager for the …

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