International & Reinsurance News for August 2021
- Ascot Realigns Global Reinsurance With Launch of Ascot Re
- Ping An Insurance Denies Regulator Halted Sales of Alternative Investments
- Toyota to Restart Paralympic Village Driverless Vehicles Following Accident
- Pandemic Uncertainty Hasn’t Slowed Private Equity Investments in Insurance: S&P Global
- Uber Proposes Gig Industry Benefits Model in Canada
- Japan Sees a Future in Crewless Cargo Ships as First Autonomous Trial Voyage Nears
- Chinese Regulators Seek More Control Over Internet Firms’ Algorithms
- China’s Regulator Probing Ping An Insurance’s Property Investments: Reuters
- Fire Damages Harry Potter ‘Birthplace’ Cafe in Scotland
- Hong Kong’s OneDegree Raises $28 Million in New Round of Funding
- Japan’s Fukushima Plant to Build Undersea Tunnel to Release Nuclear Water Into Ocean
- Insured Damage From Germany’s Deadly July Floods Estimated at €7B ($8.2B)
- Japan Vaccination Drive Faces Possible Setback Due to Contaminated Batch
- Ping An Insurance Profit Falls on Land Developer Investments
- Global Insurance M&A Drops 3% in 1st Half of 2021: Clyde & Co. Report
- KCC Estimates Insured Loss From Hurricane Grace: $300M in Mexico, $30M in Caribbean
- People Moves: QBE Hires Swiss Re’s Mejia for LatAm Property U/W; Zurich Names Kasahara Chief Data Officer; Occam’s Green Joins Rokstone to Head Power Generation
- Swiss Re Signs $10M Carbon Removal Purchase Agreement to Fight Climate Change
- More Canadian Businesses to Introduce Vaccine Mandates for Employees: Minister
- Canada’s Ruling Party Plans Tax Hike for Big Insurers, Banks to Fund COVID Recovery
- Insurers Need to Accelerate Exit From Oil & Gas Industry to Meet Climate Goals: Report
- People Moves: Howden Names Willis’ Everling as CEO Netherlands, Corporate; Carpenter’s Christian to BMS Re; Aon Reins Hires TigerRisk’s Jackson in U.S.
- UK Insurers Warned They Could Face Regulatory Action Over Car, Home Policies
- Insurtech ELEMENT and MGA Parametrix Launch Cloud Outage Insurance in Europe
- China’s Cities Aren’t Prepared for Extreme Weather Caused by Climate Change
- EY Fined $4.8M by UK Accounting Watchdog Over Audit of Transport Firm Stagecoach
- South Africa’s State Insurer to Raise Premiums to Cover Riot-Related Reinsurance Costs
- Insurer Lessons From UK Court Ruling on Business Interruption: Put Customers First
- Reinsurance Prices Expected to Harden at Jan. 2022 Renewals – with Less Momentum
- People Moves: Coomer Joins Swiss Re’s iptiQ as CTOO; COGITANDA Hires Gerety from Liberty Specialty as Chief Ins. Officer; Ki Names Hodgson 1st CTO
- Cyber Attacks Make Working From Home Costly for German Businesses: Report
- Hub International Agrees to Buy Aviva Canada Unit, National Home Warranty Group
- New Wildfires Break Out on Greece’s Evia Island
- CVC Capital Completes $700M Purchase of RiverStone Europe from Fairfax
- Fire on Mexico’s Pemex Offshore Oil Platform Kills at Least 5 Workers, Cuts Production
- Climate Change Exacerbated Germany’s Deadly Floods: Report
- People Moves: Aon Reinsurance Appoints 6; TigerRisk Hires Edwards from Lloyd’s; Nexus Names Tan Head of Treaty; Riveros to AXIS Re for Credit & Surety
- Biden Administration Sanctions Russian Insurer for Nord Stream 2: Report
- Rain Falls at Highest Point on Greenland’s Ice Sheet for 1st Time on Record
- Greece Wildfire Destroys Jobs of Pine Resin Collectors
- UK Broker Tysers Launches Platform for End-to-End Digital Processing, Called Tconnect
- Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS
- Canada’s Five Biggest Banks to Require Their Employees to Be Fully Vaccinated
- Giant Container Ship, Which Blocked the Suez in March, Again Crosses the Canal
- Hurricane Grace Crosses Mexico, Killing at Least 8 People
- Willis Towers Watson Promotes Mead to Canadian Property/Casualty Broking Leader
- People Moves: Former Willis Re CTO Joins Placement Platform Supercede; Sedgwick Hires Cordingley for Event Response in Australia, Cooper for Asia Biz Development
- AM Best Assigns ‘B++’ (Good) Credit Rating to Bermuda-Based ASR Re Ltd.
- Climate Activists Plan 2 Weeks of Protest in City of London
- Mosaic and DXC Technology Launch Technology Platform for Specialty Insurance
- Russia’s Nord Stream Pipeline 99% Complete, but Insurance Needed Before Gas Flows
- Tech Giants Are ‘Too Big to Fail’ Because They Host Insurers, Banks on Cloud Platforms
- Mining Giants Face Reckoning About Sexual Harassment as BHP Fires 48 Workers
- Hackers Steal More Than $94M from Japanese Cryptocurrency Exchange
- Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s
- Goldman Sachs to Buy Asset Management Arm of Insurer NN Group for Nearly $2B
- Parametric Catastrophe Insurer CCRIF to Make Record Payout of $40M for Haiti Quake
- Why Haiti Is Prone to Deadly Earthquakes
- UK Court Approves $14 Billion-Plus Class Action Against Mastercard
- Tokio Marine Insurance Singapore Hit by Ransomware Attack
- Marsh and Citi Develop Risk Program With 6 Insurers to Deliver Vaccines Globally
- People Moves: Africa Specialty Risks Names Bheenick as Mauritius Managing Director; WTW’s Whyte Joins Miller for APAC Expansion
- Swiss Re Hires CNA’s Stephenson to Lead Casualty; Richards Named CEO UK & Ireland
- Catastrophe Bond Market Breaks New Record with $8.5 Billion of Securities Issued
- Insurtech Blue Marble Launches Weather-Index Crop Insurance for Pakistani Farmers
- OneAdvent’s Financial Lines MGA Secures Capacity from Active Re
- Amazon Enters India Wealth Management with Investment in Smallcase Technologies
- Groundbreaking Climate Court Victories Face Problems with Enforcement
- Global Fast Fashion Brands Helping to Drive Pollution of African Rivers: Report
- Firefighters Struggle to Control Blazes Fueled by Heatwaves in France and Spain
- Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.
- Aston Lark Ireland Acquires Dublin-Based Broker A.R. Brassington & Co.
- Insurtech Quotall Announces Strategic Partnership with Broker/Fintech Provider Acrisure
- Nations Are Working Together to Fight Piracy in Waters Off West Africa
- Heavy Rains Lash Haiti, Complicating Rescue Efforts for Earthquake Survivors
- Shell to Pay $111 Million to Resolve Long-Running Oil-Spill Dispute in Nigeria
- Hudson Structured Capital Management Buys Majority Stake in MGA Occam
- People Moves: Carpenter Names Willis Re’s Harden President of APAC; HUB Appoints Stait to Lead Canada Cannabis Specialty; Riega Is Fidelis’ Head of Sustainability
- Russia TV Channel Abandons Talks with Google to Get YouTube Account Unblocked
- Oneglobal Launches Netherlands Office, Naming van der Wyck as CEO
- Willis Towers Watson Promotes Hess to President and Future CEO
- Death Toll Soars from Haiti Earthquake; U.S. Deploys Search and Rescue Teams
- HSBC Buys AXA Singapore for $575M in Push to Fuel Expansion Across Southeast Asia
- Accenture: Systems Restored, ‘No Impact’ From Reported Ransomware Attack
- European Commission Clears Vienna Insurance Acquisition of Aegon’s Businesses
- Arthur J. Gallagher Agrees to Buy Willis Re
- Zurich Insurance CEO Backs Carbon Tax and Public-Private Cyber Partnership
- China Regulators Step Up Scrutiny of Online Insurance Platforms in Widening Crackdown
- Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re
- Zurich Insurance Reports Strong Surge in Earnings as COVID-19 Impact Eases
- German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies
- Blistering Heat in Sicily May Have Just Smashed European Record
- Worst Algerian Wildfires in Decades Kill at Least 65 People
- Hackers Return $260M to Cryptocurrency Platform After Theft of $613M in Digital Coins
- Aviva to Return at Least $5.6 Billion to Investors Following Non-Core Asset Sales
- Arthur J. Gallagher & Co. Acquires Majority Stake in Turkish Specialty Broker
- China’s Extreme Weather Provides Wake-Up Call for Under-Insured Local Authorities
- New MGA Hoxton Insurance Services Offers Mid/High Net Worth Personal Lines Cover
- People Moves: Gallagher Names Hughes as Aerospace Consultant; Tokio Marine HCC Hires Faubert for Credit & Political Risk; Enstar’s CFO to Step Down
- Lockton Re Partners with Nephila Capital to Launch Automated ILS Placement Solution
- Insurance Becomes Top Operating Cost Concern for Small Canadian Firms: Survey
- Massive Wildfire Devours Forests on Greek Island of Evia
- Alibaba Scandal Sparks #MeToo Reverberations in C-Suites Across China
- People Moves: Swiss Re Corporate Solutions Hires AIG’s Blattner-Hoyle to Lead Trade Finance; QBE Names AXA XL’s France as Head of Property, Europe
- Blenheim Underwriting Launches Lloyd’s Managing Agency
- Goldman Sachs-Backed Aston Lark Acquires UK-Based Essex Insurance Brokers
- Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
- Tropical Storm Warnings Posted in Eastern Caribbean as System Gathers Power
- China’s Alibaba Blasted by State Media for Delay in Handling Sexual Assault Accusation
- Greek Citizens Angry With Government Over Reponse to Wildfires
- Epstein Accuser Sues Prince Andrew Claiming Sexual Abuse
- Targets of Canada’s New Sanctions on Belarus Include Insurance
- Arch Re Closes Acquisition of Somerset Bridge Group
- Tokyo Olympics Warns Sharing Videos on Social Media Is Not Allowed
- Lloyd’s Selects 11 Start-Ups for Innovation Lab Accelerator
- U.N. ‘Code Red’ Report Warns of ‘Irreversible’ Impact on Climate
- Investors Wary in Short-Term of China’s Unpredictable Regulation
- Wildfires Rage Anew Near Athens, Forcing More Evacuations in Southern Greece
- Turkish Officials Accused of Using Only 2% of Forest Protection Budget Before Wildfires
- ‘Not Everything Was Perfect’ in Fund Manager, Says Allianz CEO, After ‘Horrible Week’
- Africa Specialty Risks Launches Reinsurer in Bermuda
- Britain Launches $1 Billion Reinsurance Scheme to Cover Music Festivals
- Allianz Posts 46% Jump in Q2 Profit, with Rosy Outlook Expected
- Ratings Firm Moody’s to Acquire Catastrophe Modeler, Analytics Firm RMS for $2 Billion
- This Summer’s Extreme Weather Hitting World’s Wealthier Countries
- U.S. Tech Firm Operates 100% Autonomous Semi Truck on China Highway
- People Moves: Fidelis Names Mathias as Director of Underwriting, Murfet as CRO; OneGlobal Hires BMS’ Bowring for Energy Casualty, Bermuda
- Naspers Invests in Online Insurer Naked as Part of South African Investment Push
- London Is Struggling to Lure Back Workers, Says CEO of Legal & General
- While Aon and Willis Were Focused on Merger, Marsh Attracted Producer Talent
- Goldman Sachs-Backed Aston Lark Acquires UK Broker Plester Group
- Beazley Launches Suite of Life Sciences’ Insurance in Asia Pacific
- McLarens Acquires Canadian Loss Adjusting Firm MGB Claims Consultants
- Sale of Willis Re Still Possible After Collapse of Aon Merger, Gallagher Deal
- Zurich Insurance Nearing Deal to Buy Deutsche Bank’s Italian Advisers Unit: Sources
- People Moves: Ensurance Hires D’Aliesio as Casualty U/W; Chaucer’s Litterick to Occam for Low Carbon Energy; Stephenson to Aqueous as Snr U/W
- Global Regulators Warned About Entry of ‘Big Tech’ Firms into Financial Services
- Chronic Scarcity of UK Workers Blamed on COVID and, of Course, Brexit
- Amazon Slapped with Record Fine for Violating EU Data Privacy Rules
- AM Best Assigns ‘A’ Rating to International General Insurance Co. (Europe) SE
- Generali’s Operating Profit Increases 10.4% During First Half
- People Moves: JLT Re’s González to Oneglobal LatAm; Aon’s Cousar to McGill and Partners in APAC; CFC’s Alsegard Leads Gallagher’s IP Practice
- BMS Re Launches Bermuda Unit, Led by Former Alterra Executive Mullan
- Aon’s Price Tag for Scrapped Deal to Buy Willis Rises to $1.4B
- NFP Acquires Dublin-Based P/C Broker Aiken Insurances
- France’s AXA Posts 180% Surge in 1st Half Net Income as XL Unit Swings to Profit
- Update: Allianz Warns Earnings Could Be Hurt by U.S. Investigation into Funds
- Indian Insurance Startup Policybazaar Files for $810M IPO
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