International & Reinsurance News for May 2016
- Aspen Appoints Global Leaders for Surety and Credit & Political Risk
- Sompo Launches Model to Evaluate Wind Farm Risks
- Nexus Signs 3-Year Capacity Deal with XL Catlin to Write Financial Lines in Asia
- Delta Lloyd to Sell 30.2% Stake in Wealth Manager Van Lanschot to Raise Capital
- China Likely to Adopt Cyber Rules for Insurers Despite Foreign Business Concerns
- Senn, Ex-CEO of Zurich Insurance, Commits Suicide
- Travelers & Novae Join Lloyd’s Construction Consortium; Capacity Rises to $320M
- Hackers Target SE Asian Banks, Revealing Campaign Against SWIFT Network
- Ropner Insurance Services Appoints 6 New Brokers as Part of Ongoing Expansion
- AXA Sells SunLife, Names Top Team Including Harlin as CFO, Olivier to Lead P/C
- Towergate Launches Specialty London Markets U/W Division; 2 DUAL Execs Hired
- Credit Suisse Sells Operational Risk Bonds, Insuring Rogue Trading, Cyber Crime
- Global Risk Partners Completes Acquisition of LONMAR
- Dutch Insurer NN Group Plans to Buy Back Shares Worth $559 Million
- Long Named Marketform’s Claims Director, Moving from XL Catlin
- Swiss Re’s List of Emerging Risks Range from Blockchain Tech to Human Cyborgs
- PartnerRe Reshapes $16B Investment Portfolio Under Elkann/EXOR’s Leadership
- Aon Benfield Enhances Poland Flood Model
- AIG to Offer Crowdfunding Investor Protection in UK and Canada
- Chubb Names Polyblank to Head UK, Ireland Small-Medium Business Unit
- London Re/Insurance Market Faces Risk of Casualty Reserve Shortfall: PwC
- Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow
- Flood Damage from UK’s Winter Storms to Cost Insurers $2 Billion: ABI
- Everest Re Names Berry as Head of International Property Facultative Unit
- China’s Ping An Joins Global Blockchain Consortium, Led by Fintech Firm R3
- Chubb Focuses on Continental European SMEs with ‘Easy Solutions’ Proposition
- Cyber Bank Thieves Stole $12M from Ecuador Bank in 2015, Using SWIFT System
- Small Group of Bermudian Re/Insurers Drive Overall Q1 Premium Growth: S&P
- Britain Would Face Trade Barriers if It Votes for Brexit: EU Financial Services Head
- XL Catlin Hires Newick as Leader for Energy, Property & Construction Claims
- Aegon, Transamerica Owner, Sells $4.4B UK Annuity Portfolio to Legal & General
- Rio Olympics Will Proceed – Despite Zika Epidemic: Munich Re Underwriter
- AXA to Stop Investing in Tobacco, Divesting $2B of Assets in that Industry
- StarStone, Subsidiary of Enstar, Creates Australian Underwriting Hub
- Update: Debris Found from Crashed EgyptAir Plane
- Arch Insurance Europe Names Shulman as President & CEO
- Update: Skuld to Acquire SMA/Gerling Norway and Its Hull & Machinery Book
- Climate Records Keep Shattering with Hottest April in 12th Record-Setting Month
- Update: Massive Search Continues for Wreckage from Missing EgyptAir Flight
- UK Banks Ordered to Update Cyber Security After $81M Bangladesh Bank Heist
- Oaktree Capital & Egan Cut Ties After Failure to Raise Funds to Form a Reinsurer
- Urgent Action Needed to Tackle Systemic Threat of Cyber Risk: Marsh & TheCityUK
- McGovern Leaving Lloyd’s as CRO to Join XL Group as Chief Compliance Officer
- Climate Change Will Raise the Cost of Canada’s Natural Disasters: Insurers
- EgyptAir Plane, Flying from Paris to Cairo, Vanishes from Radar with 66 on Board
- Aspen Announces New CEOs for Insurance & Reinsurance Units as Vitale Retires
- Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.
- Longhurst Named Broking & Distribution Director for Towergate London Markets
- Carpenter Forms Partnership with Symantec to Create Cyber Aggregation Model
- Delta Lloyd’s Solvency II Ratio Declines to 127% on Fall in Interest Rates
- China’s Fosun Aims to Lead in Insurance, Tourism, Healthcare; Plans to Cut Debt
- Many Weed-Smoking Canadian Drivers Say They Can Drive Unimpaired: Insurers
- Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies
- Re/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative
- Alberta Wildfires Spread North, Threatening Oil Sands Facilities, Workers’ Camps
- Marsh Names Durant as Leader of Global Captive Solutions Practice
- Watsa’s Fairfax Plans to Buy Control of Indonesia Insurer’s Non-Life Unit: Sources
- Seven Corners Launches Kidnap & Ransom, Crisis Management Travel Coverages
- Outdated SAP Software May Be Vulnerable to Hackers if Not Properly Patched
- Run-off Specialist Compre Completes Restructuring to Reduce Cost Base
- China Seeks Help from UK on Its Plans to Create Financial Super-Regulator
- Beazley Expands Marine Business by Buying Subsea Specialist Leviathan Facility
- Zurich Restructure on Track, but Organization Still too Complex: CEO Greco
- Gallagher Acquires Canadian Personal & Commericial Lines Broker, B.R. Rhymer
- Global, Diversified Multiline Insurers Best Placed to Withstand Challenges: S&P
- XL Catlin Strengthens Global Energy Team with 4 Senior Appointments
- Chubb Offers 3 Transactional Risk Products in UK; Britain Named Team Leader
- Chedid Capital Acquires 75% Share of UAE Broker Al Manara Insurance Services
- Nominations Announced for 1st Efma-Accenture Innovation in Insurance Awards
- SWIFT Warns of 2nd Malware Attack, Revealing Hacker Campaign Targeting Banks
- Generali Forms Global Business Lines & International Unit; de Courtois to Lead
- Aon Signs $1.3B Pension ‘De-Risking’ Deal with UK’s Pension Insurance Corp.
- Great American Insurance Establishes Specialty P&C Division in Mexico
- W.R. Berkley Forms Berkley Insurance Asia, Naming Gangadharan CEO, Yip as COO
- Generali Profit Drops 14% to $672M on Lower Income from Life Business
- Zurich’s Q1 Net Income Down 28% to $875M, Beating Analysts’ Expectations
- Allianz Asset Management Hit by PIMCO Outflows, Although Reversal Expected
- Gallagher Partners with Cardinus to Help UK Clients Cut Risk of Underinsurance
- Marsh Canada Appoints Lay as President & CEO; Garner Named Chairman
- Investigation of $81M Bangladesh Bank Heist Uncovers 3 Hacker Groups: Sources
- World Drone Business to Grow More Than 6000% by 2020 in $127B Market: PwC
- Alberta Wildfires Spare Almost 90% of Fort McMurray, Canada’s Energy Hub
- Aspen Insurance Names Nazir as Head of International Cyber Risk, Lang as U/W
- Swiss Re Capital Markets Appoints Klugman & Monnier to Lead Global ILS Unit
- Alberta Wildfires Could Hit Canada Economy Harder than Hurricane Katrina in US
- Munich Re’s Q1 Net Income Drops to $489.9M; Annual Profit Target Revised
- Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports
- Global Reinsurer Profits Expected to Dip in 2016 as Soft Market Takes Toll: Fitch
- Tokio Marine Kiln Launches General Aviation Consortium on Lloyd’s Asia Platform
- AXA Plans Additional Acquisitions in Brazil’s Expanding Insurance Market
- Drones Will Be Used to Investigate Cause of Alberta Wildfires
- Alberta Wildfires Set to Veer from Oil Sands Operations, Spreading More Slowly
- Loeb’s Third Point Re Reports Q1 Loss of $51.1M – 4th Loss in 7 Quarters
- Fosun to Focus Investments in Emerging Markets, Backing Off from U.S., Europe
- Specialist Lloyd’s Insurer Marketform Hires Kelsh to Build Broker Relationships
- Alberta Wildfire Insured Losses Could Total $7.3B, Covering Area Bigger Than NYC
- Willis Towers Watson, Chubb to Offer Global Coverage for Oil & Gas Industry
- Natural Disaster Losses Hit Five-Year High in April: Aon Catastrophe Report
- Gallagher’s Artex Acquires Quest Holdings (Gibraltar), Expanding Europe Foothold
- RSA Turnaround ‘Complete’ with Cost Cuts & Non-Core Disposals on Track: CEO
- London Company Market Concerned About Loss of Single Passport if UK Exits EU
- CSC Completes Acquisition of UK’s Xchanging
- MAPFRE Appoints Tamayo as CEO of International; Castelo Named CEO of US Unit
- Alberta Wildfire Could Become Canada’s Costliest Natural Catastrophe
- Sturrock Named Sr. VP in Marsh’s Political Risk and Structured Credit Practice
- AXA’s Q1 Revenue Rises 1% on Higher P&C Premiums
- Japanese Insurers Expected to Continue U.S. Spending Spree: Investment Bankers
- Specialist Broker Capsicum Re Launches in Latin America; Operation Led by Smith
- Update: Canadian Wildfire Rages, Leading to Evacuation of 80,000 People
- Global Risk Partners Funds Acquisition of McGrady Ltd. in Northern Ireland
- Aegon to Acquire BlackRock’s U.K. Defined-Contribution Pension Business
- MS Amlin Now Operating at Lloyd’s Under One Brand: MS Amlin Underwriting
- Everest Re Appoints Knipper to Head Its Continental Europe Operations
- Allianz Q1 Profit Rises 21% to $2.5B, Helped by Gains from Selling Investments
- Greenlight Re Reports Q1 Net Income of $28.7M in 1st Profit Since 2014
- AIG Selling $1.2 Billion Worth of Shares in China’s PICC P&C: Report
- S&P Expects UK to Vote to Stay in EU by Small Majority; Warns About Brexit
- Australian Tech Entrepreneur Confirms He Is Bitcoin Creator: BBC Report
- XL Catlin Names Huang as Asia U/W Manager, War, Terrorism & Political Violence
- Institutional Investors Ignore Climate Risks Despite Bank of England Warning
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