International & Reinsurance News for March 2017
- Madoff Deals in Locked Safe a Focus of UK Lawsuit Seeking Damages of $66M
- Allianz Insurance Launches Live Video Streaming Platform for Property Claims
- Bermuda Re/Insurers Start to Feel Pressures of Challenging Market: A.M. Best
- Qatar Insurance Subsidiary Reaffirms London Commitment with New HQ
- Fosun ‘Seeking Investors’ for Minority Stake in Reinsurance Unit, Peak Re
- Endurance, with SOMPO as New Owner, Gets A.M. Best Ratings Upgrade
- Artificial Intelligence, IoT Startups Gaining in Global Insurtech Funding
- XL Catlin Taps SCOR’s Ennadifi as Senior U/W, Structured Risk Solutions
- Heist of $81M from Bangladesh Bank Blamed on ‘State-Sponsored Attack’
- AIG Enhances Motor Fleet Claims Service, Harnessing Cloud-Based Technology
- Superyacht Specialist Yachtpod to Underwrite on Castel’s MGA Platform
- Brussels Hopes to Lure Other Finance Firms After Its Success with Lloyd’s
- Lloyd’s Reports £2.1B ($2.6B) Profit for 2016, Unchanged from 2015
- Lloyd’s to Open EU Insurer in Brussels in Preparation for Brexit
- UK at Risk of Exiting EU on ‘WTO Terms,’ Thereby Opening Legal Minefield
- Markel International’s Trade Credit Team Opens for Business in Canada
- Acappella Syndicate Promotes Quinn and Bellamy in Reinsurance Division
- Cyclone Debbie Rips Across Australian State, Leaving ‘War Zone’; AIR Comments
- RMC Group to Open 2 London Offices, Affirming Commitment to UK Market
- CEO & Co-Founder of China’s Fosun Resigns for Health Reasons
- Update: UK Begins 2 Years of Complex Talks to Exit European Union
- Insured Cat Losses in 2016 Rose 42% at Highest Level Since 2012: Swiss Re
- UK’s Aviva Eyes Sale of Friends Provident Int’l Unit for $500M-$700M: Source
- Citigroup to Seek Bancassurance Distribution Partners in APAC Region: Source
- Gross Settles with Allianz’ PIMCO for $81M, Ending Bitter Legal Dispute
- Lloyd’s Shortlists Brussels or Luxembourg as EU HQ: Sources
- Cat 4 Cyclone Debbie Pounds Australia; Insurance Council Declares Catastrophe
- Worst Cyclone in 6 Years Set to Pummel Coast of Queensland, Australia
- Opinion: Why Is Zurich Seeking Shareholder Permission to Raise Money?
- London Keeps Mantle as #1 Finance Center Despite Brexit Uncertainties: Survey
- Caribbean Cat Facility CCRIF Donates $100,000 to Belize to Aid Rainfall Tracking
- Broker THB and CNA Hardy Partner to Provide Global Industrial Cyber Solution
- As China Liberalizes Financial Sector, It Seeks ‘Better Treatment’ Abroad
- China’s Ping An to Invest $100M a Year in Japan in Diversification Bid
- Robots Could Steal 32% of Jobs in UK Financial Services by 2030: PwC
- XL Catlin and Startupbootcamp InsurTech Form Partnership
- UK Finance Firms ‘Not Crying Wolf’ in Concerns About Loss of EU Passports
- Ironshore Expands Global M&A Unit with Appointments, Capacity Hike
- Saving Coral Reefs Requires ‘War’ on Global Warming: Study
- Update: EU Weighs Lowering Regulatory Requirements for Fintech Firms
- AIG Seeks Best Drivers in Singapore with New Smartphone App
- Neon Launches Marine & Offshore Construction Consortium
- XL Catlin Appoints QBE’s Tuplin as Head of Cyber & TMT, International
- Parliament Reopens After London’s Worst Terror Attack in More Than 10 Years
- Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance
- R&Q Acquires Captive Insurer from Fortune 500 Engine Manufacturer
- RSA Begins Trading on London Market Placing Platform, PPL
- Higher Arctic Temperatures Likely to Shift Global Weather in 2017: WMO
- BHSI Offers Professional Liability, Network Security & Privacy Cover in Canada
- JLT Re Partners with KatRisk to Expand Modeling Capability in Canada
- India’s Bank of Baroda Eyes Sale of Insurer, Asset Management Stakes
- Hannover Re to Acquire Lloyd’s Syndicate Argenta
- European Reinsurance Buying Continues to Increase But Demand for Cover Slows: A.M. Best
- Half of Global Insurance Premium Growth Tied to China: Allianz Research
- Travelers Notes Impact of Cut in UK Discount Rate for Lump Sum Payouts
- Last Shareholder Group in Settlement Talks with RBS; Litigation Insurance an Issue
- China’s Anbang Insurance Bullish on Investing in Europe
- Bank of England to Focus on Insurance Consumer Protections
- Reinsurers Seek Higher Returns Through Customized Business
- Tepco & Japan Government Held Liable Over Fukushima Nuclear Disaster
- Greenlight Re Ireland Promotes O’Brien to CEO
- Self-Driving Cars to Transform Motor Insurance in Liability Shift: Fitch
- When Will Self-Driving Cars Be Rolled-Out? Carmakers, Suppliers Disagree
- Experience Is Everything for Krefta, CEO-in-Waiting at Hiscox Re & ILS
- High-Net-Worth Individuals Concerned About Underinsurance: Chubb
- XL Catlin Expands Professional Indemnity Offering in Iberia
- Canada’s Eagle Underwriting Teams Up with MS Amlin’s RaetsMarine
- Update: Fuel Tanker Hijacking Revives Fears of Somali Pirate Threat
- Indonesia to Take Action Against Cruise Ship that Damaged Coral Reef
- RSA Names Gearey as Managing Director of Commercial Risk Solutions
- XL Catlin Receives Approval to Write Insurance in Monaco
- Audi’s German Offices Raided in Ongoing Fallout from Emissions Scandal
- RMS Launches Agricultural Risk Models for India and China
- Rival EU Cities Compete to Attract UK Firms Seeking Post-Brexit HQs
- Smartphone-Only, Fintech Startup N26 Triples Customers Over Past Year
- Pirates Demand Ransom for Oil Tanker Hijacked off Coast of Somalia
- Liability Risk Modeling Tool Launched by Lloyd’s and AIR’s Arium
- Rising Sea Temperatures Could Kill 90% of Coral Reefs by 2050: Scientists
- Somali Pirates Hijack Oil Tanker in 1st Commercial Attack in 5 Years
- UK Prime Minister Gets Go-Ahead to Launch Divorce Talks with EU
- U.S. Chipmaker Intel to Enter Driverless Car Tech with Acquisition of Mobileye
- Canada’s OutsideIQ & SAP Ariba Partner to Assess Risk, Compliance
- MS Amlin Names XL Catlin’s Padilla as Senior U/W for Latin America
- Travelers to Buy UK-Based Simply Business for $490M
- ‘Globesity’ Reaches Pandemic Levels: Aetna International Report
- Fairfax Financial to Pay More Cash, Less Stock, for Allied World
- UK’s Terrorism Reinsurer, Pool Re, Plans to Extend Cover to Include Cyber
- China Set to Enact New Code on Civil Responsibilities, Rights
- Technology Is Ultimate Savior of Insurance Industry: Opinion
- Luxembourg Successfully Woos UK Finance Firms Seeking Post-Brexit HQs
- London Insurance Market Provides Brexit Negotiations’ Wish-List
- Munich Re Syndicate’s Hoare Elected to Council of Lloyd’s
- Weather Events in U.S., Australia Cost Insurers $1B+ in February: Aon
- Africa’s Disaster Resilience Is Focus of New African Risk Capacity Partnership
- Markel International Launches Surety Business; Team Leaders Appointed
- UK Government Plans to Trigger Brexit Negotiations in Late March: Sources
- Hiscox Appoints RMS’ Khare as Group Head of Catastrophe Research
- AIG Plans to Launch Luxembourg-Based Insurer in 2019 in Preparation for Brexit
- Willis Towers Watson Launches New Edition of Pricing Software, Radar 3.0
- Australia Consumer Watchdog Sues VW’s Audi Unit over Emissions Scandal
- Thai Authorities Begin Crackdown on Ride-Hailing Firms Uber, Grab
- Integro Announces Change in UK Operation’s Leadership
- Allied World Launches 3 Professional Liability Products in Australia
- UK Prime Minister May Steps Up Battle Against Brexit Rebels
- Brexit Without Trade Deal Could Have Dire Economic Consequences: CBI
- PartnerRe Names Aon Benfield’s Cabrera as Head of Latin America
- Sompo Canopius’ Mining Capacity Rises to $30M with Travelers Syndicate Support
- China’s Fintech Investments in 2017 May Exceed 2016’s Record $10B: Accenture
- PwC Develops Blockchain Prototype for London Market Claims
- China’s Zhong An to Sell 5-10% Stake to Raise Funds Before Planned IPO
- Fidelis Insurance Appoints Patel as CFO Successor to McConachie
- Lloyd’s MGA, CFC Underwriting, Launches Cyber Incident Response App
- London Market’s Placing Platform, PPL, Expands Offering with Marine Lines
- UK’s Pool Re Increases Reinsurance Cover to £2B ($2.5B)
- Chinese Watchdog Weighs Relaxing Rules for Big Insurers’ Overseas M&A
- BHSI Launches Accident & Health Solutions in Asia; Product Line Heads Named
- Scotland’s Standard Life to Buy Aberdeen Asset Management for $4.7B
- UK Auto Insurers Face Disruption from Mobile Phone & Tech Companies
- London’s Uber Drivers Need to Pass English Language Tests, Court Rules
- Confusing, Costly Cyber Policies Create Obstacles to Market Growth: Deloitte
- Australia to Offer ‘World’s First’ University Course to Fight Cyber Crime
- White Mountains Names Rountree as CEO, Replacing Barrette Who Is Retiring
- Generali Plans to Sell Dutch Operations, Sources Say
- EU Nations May Be Competing ‘Unfairly’ to Attract UK Finance Firms After Brexit
- Shell/ExxonMobil Firm Held Liable by Dutch Court for ‘Psychological Suffering’
- XL Catlin Launches Five Financial Institutions Insurance Solutions in Iberia
- Chile-Based Broker Lilienfeld Names Rossi as CEO, Succeeding Lilienfeld
- Many Ontario Drivers Don’t Recognize Insurance Fraud’s Effects on Premiums
- Level of Cyber Risk Management for Many Firms Is ‘Unsustainable’: Swiss Re
- UK’s Allianz Insurance Enhances D&O Cover
- UK Insurers’ Reserve Strengthening Likely After Personal Injury Discount Rate Change: A.M. Best
- Willis Towers Watson Completes Purchase of French Aviation Broker, OAAGC
- BGC Partners Buys Lloyd’s Broker Besso Insurance
- Canada’s Echelon Insurance Gets Danish Regulatory Nod to Sell Europe Unit
- Gallagher Buys Australia’s Ace IRM Insurance Broking Group
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