International & Reinsurance News for December 2016
- Canada’s Fairfax Gets Approval to Buy 51% of India’s Catholic Syrian Bank
- Chinese M&A to Continue Despite Regulatory, Policy Hurdles: A.M. Best
- Bangladesh Police Detail How Insiders May Have Aided Cyber Bank Heist
- China Unveils Plans to Allow More Foreign Financial Services Investments
- Markel International Names Brown & Larson to Equine & Livestock Team
- R&Q Completes Novation with Captive Owned by Coca-Cola Bottlers’ Assoc.
- XL Catlin Adds Clinical Trials Solution for Life Science Clients in Germany
- Security Weaknesses Found at Smartphone-Only, Fintech-Startup N26
- 33% of Canadians Admit to ‘Dangerous Habit’ of Texting at Red Lights
- Hannover Re Receives License to Launch Branch in India
- Philippines Hunts for Crew of Ship Sunk by Typhoon Nock-Ten; AIR Comments
- Fairfax Plans to Raise $1 Billion in IPO for Fund to Make Africa Investments
- NN Group Agrees to Acquire Dutch Insurer Delta Lloyd for $2.6B
- Chubb Names Lambourne as Head of Multinational Claims, Overseas General Insurance
- SCOR Authorized to Open India Branch Office to Write Life, P/C Reinsurance
- Major Travel Booking Systems Vulnerable to Hackers: Researchers
- Russia Focuses on Pilot or Technical Fault, Not Terrorism, as Plane Crash Cause
- Earthquake in Southern Chile Causes Minor Damage; 4,000 Evacuated
- Israel’s ‘Facebook Law’ Targets Content ‘Liable to Incite’ Terrorism
- China Vows Cybersecurity Hard Line, Including Use of Military
- Credit Suisse, Deutsche Bank Settle Subprime Mortgage Probes with U.S.
- Brexit Threatens 10% of London’s Financial Jobs: City of London Corp. Official
- Hong Kong Agents, China Insurers Face Tech-Related Disruptions: 2017 Predictions, Part 4
- Hiscox UK Taps AIG’s White as London Regional Mgr, Professional & Specialty Lines
- Data Breaches of Internet Giants & Online Services Pose Major 2017 Cyber Threats
- China’s Regulator Toughens Insurer Licensing Requirements: Sources
- Emerging Risks/Markets Offer New Opportunities: 2017 Predictions, Part 3
- Hamilton Underwriting Appoints Novae’s Holland as Claims Director
- Zhongan Online P&C Insurance Pulls H.K. IPO Plans; China Listing Eyed: Sources
- Canada to Ban All Products Containing Asbestos by 2018
- Europe’s Insurers, Pensions Seek Higher Yields via Infrastructure Investments
- German Police Resume Hunt for Killer in Christmas Market Terrorist Attack
- Enstar Launches Bermuda Specialty Reinsurer KaylaRe; Packer Appointed CEO
- 2017 Predictions for Insurtech, Australia D&O & India Cyber Insurance, Part 2
- Greenlight Capital Re CEO Hedges to Step Down in March 2017
- XL Catlin Extends Partnership with Kidnap Response Specialist S-RM
- Terrorism May Be Motive in Berlin Christmas Market Killings; RMS Comments
- QBE Insurance Group Names Regan CEO, Australia & New Zealand Operations
- Newline Group Establishes Branch Office (and EU Platform) in Germany
- XL Catlin Invests $4M in Insurtech Microinsurance Startup, Stonestep
- AXIS Capital’s London Office to Move to ‘The Scalpel,’ New Tower Near Lloyd’s
- Aspen Appoints Thornton as Group Chief Operating Officer
- Canada’s Fairfax to Buy Switzerland’s Allied World for $4.9B in Cash, Stock
- Brexit Opportunities, More M&A: Clyde & Co.’s 2017 Predictions, Part 1
- Novae Taps Mitsui Sumitomo’s Steadman as Head of Cargo
- Re/Insurers’ Fundamentals Begin to Erode in Challenge-Filled Market: A.M. Best
- Turkey’s Akbank Faces Possible $4M Liability After Cyber Attack – But It’s Insured
- Investigators Find Traces of Explosives on Victims of EgyptAir Crash
- Germany’s Cyber Security Watchdog Urges Yahoo Users to Switch Email Providers
- Allianz Eyes Purchasing Generali’s French Operations: Sources
- SCOR Launches Contingent Capital Facility as Solvency Cover After Major Cat Event
- XL Catlin Enhances Wording for Fine Art & Specie Offering in Europe
- RenRe Chief Investment Officer & Treasurer to Leave, Succeeded by Brosnan & Dutt
- More UK Insurers Consider Move to Ireland for Europe HQs: Central Bank
- Insured Cat Losses in 2016 Totaled $49B, with $158B of Economic Costs: Swiss Re
- Yahoo Warns 2nd Hack Exposed 1 Billion Users in Largest Data Breach in History
- South Africa’s Rand Merchant Acquires 30% of UK Motor Insurer Hastings
- G20 Task Force to Ask Firms to Disclose How They Manage Climate Risks
- Caribbean Cat Facility, CCRIF, Pays Nicaragua $1.1M for Hurricane Otto
- Guy Carpenter Forms Global Strategic Advisory Unit with Bentley as President
- Generali Names Sesana as Italy’s Country Manager; Ryan Named Group CIO
- Reinsurance Prices May Be Bottoming but Outlook Remains Negative: A.M. Best
- SWIFT Official Warns Banks of Escalating, More Sophisticated Cyber Threats
- Some Bangladesh Bank Insiders Helped Hackers Steal $81M: Investigator
- Lloyd’s Insurers Urged to Focus on U/W Discipline as 2016 Losses Loom
- Guy Carpenter Appoints Nash as President of New International Division
- 3rd Party Capital Specialist Tokio Solution Simplifies Management Structure
- Canada’s P/C Insurance Market Stable with Good Demand: Moody’s
- Munich Re Chairman von Bomhard Voted 2017 Insurance Hall of Fame Laureate
- Zurich Insurance Agrees to Acquire Australia’s Biggest Travel Insurer for $551M
- XL Catlin Names Gale & Littlemore to Lead Bermuda, London Reinsurance Units
- ArgoGlobal Taps Endurance’s Thompson as Hull Class Underwriter
- Marsh Names 25 Apprentices in UK to Promote Youth Opportunities
- Bangladesh Investigators Blame Negligence of Bank Insiders for $81M Cyber Heist
- Cyber Market Hampered by Insurability Challenges: Geneva Assoc. Report
- ThyssenKrupp’s Trade Secrets Targeted in ‘Massive’ Cyber Attack
- New Zealand Quake’s Insured Losses Estimated at $705M-$3.5B: Aon Cat Report
- Indonesia’s M6.5 Quake Kills Nearly 100 with Low Insurance Losses Expected: AIR
- Wilson to Succeed Cloutier as Brit Ltd.’s Group CEO
- Efma & Accenture Invite Entries for 2nd Annual Innovation in Insurance Awards
- TPA Gallagher Bassett Names McNamara as Managing Director, Australia
- Insured Losses from Italy’s October Earthquakes Estimated at $33.3M: PERILS
- Credit Guarantee & Investment Facility Signs Inaugural Treaty Led by Munich Re
- Rising Risks Could Cost Global Cities $1.17 Trillion of GDP in 2017: Cambridge Study
- UK Gov’t Promises Insurers & Banks London Will Stay Top Finance Center – After Brexit
- Allianz Worldwide Partners Hires Wuensche as Head of Global Market Mgmt & Innovation
- FinTech Startup, ‘Number26,’ Grows in Europe, Offering Banking, Insurance
- U.K. Financial Firms Paid $91B in Annual Tax: City of London Report
- Uber Drivers in Taiwan Threatened with Fines of $780,000 in Draft Rules
- Lloyd’s Details Its New Corporate Operating Model to Help Deliver Vision 2025
- Update: Hackers Steal $31M from Russian Central & Commercial Banks
- China’s Insurers Have Major Risk Management Deficiencies, Warns Regulator
- Xceedance Opens Insurance Operations Center in Krakow, Poland
- Talbot Underwriting Beefs Up Cyber Offering, Hiring ANV’s Mayes & Anderson
- BMW to Test Autonomous Vehicles in Munich in 2017
- PERILS Discloses Final Loss Estimate for UK Storm Desmond of £604M
- XL Catlin Launches Emergency Security & Disaster Evacuation Solution
- What Executives Need to Know About Managing D&O Liabilities: Allianz Report
- Krefta Named CEO of Hiscox Re and ILS, Succeeding Pinchin
- Skuld’s Special Purpose Arrangement, Agora, Completes Senior Team
- Chinese Insurers May Hike Overseas Investments by $100B over 3 Years: BNP Paribas
- Hamilton Underwriting at Lloyd’s to Hike 2017 GWP to £122.5M ($152.9M)
- Aon Agrees to Buy Brazil Health & Benefits Broker and Solutions Firm, Admix
- RMS Peru Earthquake Model and Actuaries Climate Index Are Launched
- Vienna Insurance Group Completes Purchase of AXA’s Serbian Operations
- Bank of England Beefs Up Cyber Resilience Tests for UK Banks After Tesco Hack
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