International & Reinsurance News for October 2017
- AIG Names MetLife’s Townsend as CEO, International General Insurance
- Beazley Launches Suite of Financial Lines Products in Spain
- Cat Facility CCRIF to Pay Trinidad & Tobago $7M for Severe October Rains
- Singapore Looks to Create Thousands of Finance, Insurance Jobs
- Cost-Cutting Japanese Factories Struggle to Maintain Safety
- Iron-Excess Names 3 to Specialty Casualty Posts for U.S., London
- Aon to Acquire UK-Based Insurance Broker Henderson
- Beazley Taps XL Catlin’s Taboada, Zurich’s Misol as Financial Lines U/Ws, Spain
- UK Faces Bad Deal for Brexit, Gloomy Outlook: S&P, Fitch
- Aon Reports 6% Increase in Q3 Revenues to $2.2B
- Basic IT Best Practice Would Have Limited WannaCry Cyber Attack: UK Report
- Insurtech Startup Etherisc Offers Blockchain-Based Flight Delay Insurance
- Randall & Quilter Agrees to Novate Management of ProSight’s Syndicate 1110
- Lloyd’s Re/Insurance Broker RFIB Launches Singapore Operation
- XL Catlin Taps Allianz’ Broodryk as Cyber Product Leader, APAC Financial Lines
- Loss Estimate for October 2016 Italian Quakes Rises to US$244.4M: PERILS
- Toa Re, Barbican Get ‘in Principle’ Approval from Lloyd’s to Form SPA
- Global Re/Insurers Seek Premium Hikes After Costly 3rd Quarter
- MGA Burns & Wilcox Canada Opens Vancouver Office; Key Leaders Named
- Hiscox Appoints Veys from UK Insurer LV= as Chief Investment Officer
- Saudi Insurers Need More Consolidation, Foreign Input, Says Regulator
- Munich Re Expects Q3 Loss After Hurricane Claims of $3.2B
- UK-Based MGA Nexus Group Buys Trade Credit Broker, Credit Risk Solutions
- RMS Opens Office in Sydney to Support Client Growth in Australia, New Zealand
- India’s GIC Re Shares Drop on Market Debut After Raising $1.7B in IPO
- EU President Tusk Believes UK Could Reverse Its Plans for Brexit
- XL Group Q3 Reports Losses in Excess of $1B on Hurricanes Harvey, Irma, Maria
- Aon Benfield Names Siccardi as EMEA & UK Head of Client Services
- Citi’s Head of Insurance Investments Named COO of Ping An Fintech Fund: Sources
- Insurtech Startup, Insurdata, Raises More Than $1M in Seed Financing
- British Financial Regulator Investigates Equifax Hacking of UK Customer Data
- Canada Concerned About Cyber Attacks Targeting Critical Infrastructure: Source
- AXIS Names Swiss Re’s Arora as Reinsurance CEO
- AIR Worldwide Introduces Inland Flood Model for Japan
- UK Must Secure Brexit Transition Deal or Risk Losing Jobs: Business Leaders
- Marsh Taps Saunders from UK National Crime Agency as Cyber Risk Consultant
- Dutch Insurer Aegon Eyes Acquisitions Such as Smaller Competitor ASR
- Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire
- Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW
- RSA Canada Taps Cohen from Aviva Canada as SVP, Chief Underwriting Officer
- Neon Launches Marine Joint Venture in Italy
- Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
- Extreme Rainfall Could Cost South Asian Cities Up to $215B Annually by 2030
- Ironshore’s Singapore Branch Hikes Capacity to $50M for Political Risk Lines
- 5 Risk Management Associations to Develop Mutual Recognition of Certifications
- Willis Towers Watson Appoints Tosti as Head of Italy
- BHSI Introduces Motor Truck Cargo Legal Liability Insurance in Canada
- Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria
- AIG UK Sells Its 1st Sharia-Compliant M&A Policy in London
- Compensation for London’s Grenfell Fire Victims May Be Capped at $5M: Reuters
- Ascot Group Taps Ironshore’s Roberts as CFO, Promotes Dimsey to Group COO
- Ironshore Hong Kong Offers Legal Event Expense Cover in Hong Kong Market
- China Delivery Firm ZTO Joins Consortium to Set Up Logistics Insurer – to Fill Coverage Gap
- AXIS Capital Completes Purchase of Novae; Executive Team Announced
- Cyber Security Specialists Warn Wi-Fi Vulnerable to Hacker Attacks
- Argo and Aspen Issue Loss Estimates for Q3 Natural Catastrophes
- More Clients Want Cyber Cover with BI, Supply Chain Protection: Beazley, Munich Re
- Marsh Appoints Fahrig as CEO of Continental Europe Region
- Kobe Steel Assesses Extent of Costly, Habitual Data Product Tampering
- May 2018 Deadline for EU’s Cyber Rule, GDPR, Spurs Corporate Action: Marsh
- Markel International Launches Fintech Insurance for Asian Market
- Storm Ophelia Leaves Trail of Destruction in Ireland; Damages Could Reach $1.8B
- Acquiring Insurers Underperformed in 2016: Willis Towers Watson
- S&P No Longer Expects Global Re Rate Drops at Jan. 1
- Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch
- Kobe Steel Scandal Hits Global Supply Chains as Financial, Legal Fallout Grows
- Lloyd’s Broker AFL Creates Property Practice, Led by Crouch from Lockton
- Storm Ophelia Set to Slam Coast of Ireland; Extreme Winds, Flooding Expected
- More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates
- Ireland Readies for Hurricane Ophelia, One of Its Strongest Storms in 50-Plus Years
- India Government Raises $1.5B Selling Shares in Reinsurer GIC Re
- Kobe Steel Supply Chain Scandal Spreads; 500 Customers Used Affected Products
- Lloyd’s Outlook Is Negative on Hurricane Losses; Ratings Affirmed: S&P
- AXA Rebuffs Suitors Eyeing Its Asset Management Arm
- Gov’t, TEPCO Held Accountable by Japan Court for Fukushima Nuclear Accident
- Prevalent, Discredited Building Technique Raised Mexico’s Quake Deaths: Engineers
- XL Group Estimates $1.48B in Q3 Natural Catastrophe Losses
- Everest Re in London Taps Hiscox’s Armitage, Gairdner from Tokio Marine Kiln as Sr. Underwriters
- Insurers, Tech Firms ‘Must Work Together’ to Tackle Emerging Technology Risks
- Saudi Arabia Develops Stronger Capital Rules for Insurers: Sources
- Kobe Steel Can Expect Spate of Lawsuits for Its 10 Years of False Data
- Octo Telematics to Buy Usage-Based Insurance Assets of Willis Towers Watson; Partnership Announced
- Arch Re Names Halgan as CEO; Dragonetti as President; Seymour-Smith as COO; Vivian as N. America CEO
- KPMG’s S. Africa Unit Names 9 New Execs in Bid to Restore Client Trust
- Hiscox Names Markham as CEO for London Market Business
- Kobe Steel’s Data Fabrication Scandal Grows; Customers Eye Safety Impact
- Starr Cos. Now Offers Commercial Auto Coverages in Canada
- Willis Towers Watson’s Insurance Consulting & Tech Team Taps Bruce from Travelers, Rourke from LV=
- Beazley Begins Underwriting at New Dublin-Based Subsidiary
- Kobe Steel Admits Falsifying Data on Components Used by 200 Firms
- Uber: Giving UK Drivers Workers’ Rights Would Cost Millions of Pounds
- Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
- UK Broker Capsicum Re Appoints Williams as Cyber Security Specialist
- MGA Pen Underwriting Signs £150M Motor Capacity Deal with Zurich Insurance
- Lloyd’s Signs Deal with Artificial Intelligence Specialist, Expert System
- Zurich Insurance ‘On Track’ to Cut $1.5B in Costs by 2019: News Report
- Buffett’s Berkshire to Buy 9% Stake in Italian Insurer Cattolica
- Q3 2017 Likely to Be One of Costliest for Natural Disasters: Aon Report
- Argo Taps Eccles from Travelers as International Chief Underwriting Officer
- Partner Re, RenRe & Third Point Re Estimate Q3 Natural Catastrophe Losses
- Insurers to Crack Down on Illegal Fishing by Denying Coverage
- Japan’s MS&AD to Invest $1B in Swiss Re’s UK Unit, ReAssure Jersey One
- RMS Launches Risk Selection Solution for Underwriters
- Dutch Insurers & Banks Warned to Account for Risks of Climate Change
- German Firms with UK Operations Should Prepare for ‘Hard Brexit’
- Nippon Life Eyes Buying MassMutual Japan Unit for Bancassurance Sales: Sources
- Everest Re Taps AXIS Re’s Heizmann as Head of European Credit & Surety
- Willis Towers Watson Launches Facultative Re Hub for Germany, Austria, Switzerland
- UK’s PremFina, a Broker Software Provider, Raises $36M for Expansion
- Terrorism Risks Have Made Tight Security Routine at Many Global Hotels, Resorts
- Reinsurer GIC Seeks $1.7B in 3rd Largest Indian IPO
- Munich Re Africa Drops KPMG as Auditor on S. African Reputational Issues
- Rio Tinto Plans to Use Driverless Trains to Ship Iron Ore in Australia
- Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters
- Chubb Taps Hiscox’s Hosking, Promotes Bear to UK Middle Market Broker Roles
- UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes
- Everest Re Gets Nod to Launch Irish Insurer for EU Business; Aon’s Cross Is CEO
- SABB Takaful Must Stop Selling Insurance, Savings Products: Saudi Watchdog
- Insuretech Connect Conference in Las Vegas to Go On as Scheduled
- XL Catlin’s Accelerate Partners with UK Artificial Intelligence Startup Cytora
- Blockchain Industry Initiative, B3i, Expands with 23 New Broker, Re/Insurer Entrants
- Heffernan Insurance Brokers Opens London Unit, Led by JLT’s Murrell
- Uber Drivers Will Need Licenses, Insurance in Australia’s Queensland
- UK Regulators Eye Post-Brexit ‘Interim’ Status for EU-Based Financial Firms
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