International & Reinsurance News

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Russia’s state-run oil tanker company Sovcomflot PJSC said that western sanctions on ships moving the nation’s petroleum oil are only serving to heighten environmental risks by forcing some vessels out of mainstream trading. Since late last year, US, European Union …

People Moves: HDI Global Taps SCOR’s Ahn as HK Branch CEO; Amwins Global Risks Promotes Abraham as CEO, Succeeding Mathis, Who Returns to US

This edition of International People Moves details appointments at HDI Global and Amwins Global Risks. A summary of these new hires follows here. HDI Global Taps SCOR’s Ahn as HK Branch CEO, Lau Named Director APAC Network HDI Global announced …

Wefox Appoints Former Allianz Executive Mueller as CEO to End Shareholder Fight

Wefox Holding AG appointed former Allianz manager Joachim Mueller as chief executive officer, ending a boardroom battle that pit the insurance tech startup’s founders against some of its shareholders. Mueller will replace interim CEO Mark Hartigan, effective immediately, Berlin-based Wefox …

Extreme Weather Adds to Fiscal Strains in Central Europe

Just a week ago, before deadly floods swept through central Europe, the Czech Republic looked on track to become the first country in the region since COVID-19 to pull its budget deficit firmly below the 3% of GDP cap set …

Exploding Pagers Sound Global Alarm on Supply-Chain Security

Thousands of pagers and other devices exploding in Lebanon this week mark a new and deadly escalation in the use of supply chains against adversaries, giving new urgency to global leaders’ drive to reduce their dependence on technologies from rivals. …

Sir Charles Roxburgh Named Next Chair of Lloyd’s, Succeeding Carnegie-Brown

Lloyds of London, the re/insurance marketplace, announced that Sir Charles Roxburgh has been named its next chair, subject to regulatory approval. Sir Charles will take up the position on May 1, 2025, succeeding Bruce Carnegie-Brown after his eight-year term. Sir …

Lockton Gets Regulatory Approval to Operate Reinsurance Brokerage in Colombia

Lockton, the Kansas City, Missouri-based insurance brokerage firm, announced it has received regulatory approval to operate a reinsurance brokerage business in Colombia. “Lockton’s continued growth in Latin America is bolstered by this expansion of our capabilities in Colombia,” said Andrew …

People Moves: Vantage Promotes Granda to Head of Political Risk and Credit; Miller Taps Rance From Price Forbes Re to Lead Reinsurance Strategy and Innovation

This edition of International People Moves details appointments at the Bermuda-based re/insurer Vantage Group Holdings and the insurance broker Miller. A summary of these new hires follows here. Vantage Promotes Granda to Head of Political Risk and Credit Vantage Group …

Markets/Coverages: Mosaic Offers Syndicated Terrorism Cover for Fine Art & Specie

Mosaic Insurance, the Bermuda-based specialty insurer, has launched customized global terrorism and sabotage coverage for fine art and specie insureds, with syndicated capacity extending up to $215 million per risk. The new product offers coverage for physical loss or damage …

Japan’s Icom Investigates Radio Devices Carrying its Logo After Lebanon Blasts

Japanese radio equipment maker Icom Inc. said on Thursday that it was investigating the facts regarding news reports that two-way radio devices bearing its logo have exploded in Lebanon. Hand-held radios used by armed group Hezbollah detonated on Wednesday across …

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