International News

North Korean Shipping Company Evades UN Sanctions, Obtains Marine Insurance

A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation, according to a new report by United Nations monitors. The U.N. Security Council’s Panel of Experts on …

Generali Names Galateri as Interim CEO After Greco Departs for Zurich Insurance

Assicurazioni Generali SpA appointed its Chairman Gabriele Galateri, as acting chief executive officer after CEO Mario Greco decided to quit Italy’s biggest insurer to become the head of Zurich Insurance Group AG. The company’s board approved the termination of Greco’s contract and …

Integro Insurance Announces O’Shea Joins UK Film & Television Team

Global insurance brokerage and risk management firm Integro Insurance Brokers Holdings Ltd. announced that entertainment specialist broker Kevin O’Shea has joined Integro’s UK Film & Television team, part of the firm’s entertainment practice, in London. A Chartered Insurance Broker, O’Shea …

Russian Hackers Moved Ruble-Dollar Rate at Regional Bank: Cyber-Security Firm

Hackers used malware to penetrate the defenses of a Russian regional bank and move the ruble-dollar rate more than 15 percent in minutes, according to a Moscow-based cyber-security firm hired to investigate the attack. Russian-language hackers deployed a virus known as …

3 New Members Elected to the Council of Lloyd’s

Lloyd’s have confirmed the election of three new members to the Council of Lloyd’s. Julian James and Neil Maidment were elected following a vote of working members of the Society of Lloyd’s and will serve a three year term. Philip …

‘Brexit’ Threatens Britain’s EU-Dependent SMEs: UK’s RSA

While UK-based small and medium sized enterprises (SMEs) want to access opportunities in emerging and growth economies, they remain dependent on the European Union, which suggests that SMEs could be disproportionately affected if Britain votes to leave the EU in …

Climate Change May Have Fueled Mosquito-Born Zika Outbreak: Scientists

Climate change may have fueled the outbreak of the mosquito-born Zika virus in Latin American and make it harder for developing countries to manage future epidemics, researchers said. Record-high temperatures last year in Brazil, Ecuador and other South America countries created ideal conditions …

Sompo Canopius Announces a Simplified Organizational Structure

Sompo Canopius AG has announced a number of changes to its organizational structure. The company is simplifying its underwriting management and structure to enhance cohesiveness and focus on profitability across the group. It is also making some changes to its …

London-Based Chubb Global Markets Names Marine Team Leaders

Chubb Global Markets, the London-based wholesale insurance division of Chubb, announced the appointment of the leaders of its marine team, with immediate effect.  Mark Edmondson, formerly head of marine for legacy Chubb Syndicate 1882, has been appointed as head of marine …

P&I Sector’s Underwriting Discipline to Be Tested in Coming Renewals: A.M. Best

Underwriting discipline in the marine protection and indemnity (P&I) sector will be tested over the February 2016 renewal period due to market and competitive forces buffeting the sector, according to report published by A.M. Best. Free reserves are at record …

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