International & Reinsurance News for November 2017
- Aon Switzerland Buys Swiss Broker Unidelta AG
- Willis Towers Watson Launches Updated Capital Modeling Platform, Igloo 5
- UK’s Aviva Plans to Return $4B of Extra Cash to Shareholders, Make Acquisitions
- Global Banks Face ‘Significant Evolution’ in Cyber Threat Level: SWIFT
- Uber’s UK Data Breach Exposed Accounts of 2.7M Customers in 2016
- China Oceanside’s Acquisition of Genworth Again Delayed by U.S. Review
- Munich Re’s Ergo Decides Not to Sell Run-Off Life Policies as Offers Too Low
- Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far
- Chinese Startup Develops ‘Taxi Drone’ with Plans for 2018 Rollout
- India’s Paytm Wants to Create World’s Largest Digital Bank; Insurance to Be Offered
- Markel Completes Acquisition of UK Building Services Insurer EC Insurance Co.
- Starr Cos. Forms Canadian A&H Division, with Claughton & Hughes at Helm
- Guy Carpenter Chairman Newhouse to Retire at Year End
- Dangers of Messy Brexit Without Insurance Deal Highlighted by Bank of England
- Marsh’s Combined Jelf and Bluefin Businesses in UK to Be Rebranded as ‘Jelf’
- Gallagher Names Anderson to Lead Rossborough Insurance in Channel Islands
- Pool Re to Include Physical Damage from Cyber Terrorism, Effective April 2018
- Millions of Devices in Europe Remain Undefended Against Cyber Attacks: Report
- Brit Appoints Brock as President of Newly Formed Scion Underwriting Managers
- Neon Names Heppell from MS Amlin as CFO
- Chubb Forms Partnership with China’s Largest P/C Insurer, PICC
- UK, Ireland’s Storm Ophelia to Cost Insurers an Estimated $70.1M: PERILS
- Ascot Group Launches Bermuda Reinsurer; Berger Appointed CEO
- UK Financial Services Industry Pays Record Taxes, ‘Underlining Need’ for Brexit Deal
- Tourists Stranded, Evacuations Ordered as Bali Volcano’s Eruption ‘Imminent’
- Zurich Insurance Plans to Double Allocation to Impact Investments, Earmarking $5B
- Commercial Insurance Rate Decreases Slowing Globally: Marsh
- As Re/Insurers’ Results Are Hit, ‘Substantial’ Rate Hikes Expected: Swiss Re
- Starr Cos. Forms Agreement with SMARTT MGA for General Aviation Business
- BHSI Introduces Contractors Plant & Equipment Cover in Australia
- Airbus Aims to Develop Single Pilot, Autonomous Aircraft to Cut Crew Needs
- UK Accounting Regulator Urged to Slap Larger Fines on ‘Big Four’ Firms
- Everest Re CEO Addesso Contract Is Extended Through 2019
- Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers
- UK P&I Insurer Chooses Dublin as EU Headquarters After Brexit
- Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
- China’s Ping An Is World’s 2nd Largest Insurer by Market Value After Berkshire
- Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best
- XL Catlin Taps Coladon from The Guarantee as Fine Art & Specie U/W in Canada
- Pen Underwriting Builds on QBE Partnership with Irish P/C Capacity Deal
- Technology Risk Mgmt Association TechAssure Names New Member in Germany
- UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub
- UK’s IUA Publishes Good Practice Guide for Delegated Authorities
- China Tightens Rules on $15 Trillion Asset Management Sector to Cut Systemic Risks
- Canada’s Economical Restructures to Strengthen Broker Relationships, Profits
- EU Wants Insurers to Plug Investment Gap, but Bank Partners Needed: Regulator
- EU Insurers Have Raised Their Exposure to Riskier Investments: EU Regulator
- Ships Must Meet Emission Rules or Be Deemed ‘Unseaworthy,’ Lose Insurance: IMO
- UK Regulator’s Broker Probe May Make London Market More Competitive: Fitch
- Insured Losses for Cyclone Xavier in Germany Estimated at $343.6M: PERILS
- Blockchain Is Littered with ‘Smart’ Contracts Gone Bad: Opinion
- P&I Club Steamship Mutual Granted License to Operate as Insurer in Singapore
- Europe’s Re/Insurers Cut Coal Investments by $20B; U.S. Firms Fail to Act: Report
- Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018
- BHSI Launches Network Security & Privacy Liability Insurance in Canada
- Canada’s Economical Insurance Names MacDonald Executive VP for Personal Lines
- JPMorgan Warns of Market Disruption If Clearing Houses Cut-Off by Brexit
- Apax, Carlyle Reported Among Bidders for Indian Insurer Royal Sundaram
- Russian Cyber Attacks Target Major U.K. Industries, Says Top Spy
- France’s AXA to Focus on M&A in 16 Countries; Eyes Sale of Some Non-Core Assets
- Xceedance Makes Equity Investment in Startup Blockchain Specialist ChainThat
- California Wildfires May Lead to $8B in Insured Losses: Aon Benfield
- MGA Chord Re Launches as Specialty Reinsurer, Writing on Behalf of Neon
- AXA Simplifies Structure with 5 Geographies; New Management Committee Formed
- Dublin Attracts Wave of U.S. Financial Services Firms Seeking Post-Brexit EU Hubs
- Chubb Launches Commercial Division for SMEs in Asia Pacific
- Lloyd’s Approves Dale Underwriting Partners’ Special Purpose Arrangement
- Allianz Cuts 2017 Profit Projection After Q3 Natural Catastrophe Claims
- Asta’s Agora Syndicate 3268 Gets Nod from Lloyd’s to Underwrite in January 2018
- Fosun’s Peak Re Authorized as Life & General Reinsurer in Singapore
- As China’s Insurance Market Liberalizes, There Will Be Many Winners: Opinion
- Growing Climate Risks May Be ‘Impossible to Model’ – and Ultimately Uninsurable
- China Unveils Rules Allowing Foreign Firms to Take Majority Stakes in Local Insurers
- With 4,000 Ransom Attacks a Day, Cyber Crime Threatens Financial Sector: Europol
- Global Temperatures in 2017 Slightly Below Record-Breaking 2016: UN
- MGA Newbridge Offers Political Violence, Terror Cover; Chaucer, Markel Provide Capacity
- China Pledges to Keep Easing Barriers to Entry for Foreign Insurers, Banks
- Munich Re Reports Q3 Loss of $1.6B; Tallies Industry Hurricane Losses at $100B
- Generali Posts 9.9% Drop in 9-Month Profits; But on Track to Achieve 2017 Target
- Hannover Re Sells Entire Stock Portfolio to Pay for Catastrophe Claims
- Starr Reaffirms Commitment to Singapore Insurance Market with Subsidiary SIIS
- French Startup Navya to Roll Out $290,000 ‘Robotaxi’ in Paris Within Weeks
- Insurtech-Led TPA, Advent Claims, to Administer Claims for Principia Underwriting
- China Taiping Insurance in Talks to Buy $1.3B Building in Hong Kong: Sources
- Nepal Bank Latest Victim in String of Global Cyber Heists
- Zurich to Transfer German Legacy Medical Practice Portfolio to Catalina
- Typhoon Damrey’s Vietnam Death Roll Rises; AIR Worldwide Comments
- AIG Names Spaven as Head of Liabilities & Financial Lines, Singapore & SE Asia
- Allianz Develops Blockchain Prototype for Captive Insurance Program
- London Market’s IUA Warns Against Expansion of EU Motor Insurance Directive
- London Market’s Placing Platform, PPL, Adds P/C Lines to Growing Roster of Risks
- UK Regulator to Probe Wholesale Insurance Broking Market
- Despite Earthquake Risk, UK Ready to Begin Fracking – Again
- Update: EU to Weigh Tax Havens’ Blacklists Following Leak of Paradise Papers
- Willis Towers Watson Taps Yeung from AIG as Head of P/C, North Asia
- China May Be Poised to Outpace U.S., Europe in Insurtech Innovation
- India Coal-Fired Power Plant Explosion Kills 32 After 7 Months of Operation
- Lockton Taps Davies from JLT as SVP, Property, in Bermuda
- Fidelis Launches Treaty Excess-of-Loss MGA, via New MGA Platform Pine Walk
- Global Insurance Regulators Delay Implementation of International Capital Rule
- Allianz Worldwide Care Rebrands as Allianz Partners
- Malaysia, Australia Investigate Massive Commercial, Governmental Data Breaches
- Lancashire Reports Q3 Loss of $136.4M on High Natural Catastrophe Claims
- Swiss Re Posts $468M 9-Month Loss, Anticipates Re/Insurance Rate Hikes
- Artificial Intelligence Poses Risks to Insurers, Banks, Warns Global Regulator
- UK Could Lose 75,000 Insurance, Banking Jobs as a Result of Brexit: Regulator
- Aon Completes Acquisition of Dutch Broker Unirobe Meeùs Groep
- Swiss Re Names Richards as Head Casualty Reinsurance; Parton as Head P/C Business Mgmt.
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