International & Reinsurance News for January 2022
- Crypto Exchange Binance Builds $1B Insurance Fund After Industry’s Recent Hacks
- Hackers Seize $80M of Digital Assets From Qubit in Latest DeFi Attack
- First Online M&A Insurance Marketplace Launches in Australia
- Berkshire’s, SoftBank’s Early Investments in India’s Paytm Sour After Stock Rout
- Officials of AstraZeneca China Summoned About Probe of Suspected Insurance Fraud
- Insurtech Descartes Underwriting Raises $120M to Expand Parametric Product Offering
- People Moves: Liberty GTS Expands in Europe; AEGIS London Promotes Yeldham to CUO; Brit Names Argo’s Allen, MAP’s Poynder for Property Facilities Team
- QBE Launches Sustainable Energies Unit to Support Clients’ Transition to Lower Carbon
- FERMA Launches Risk Management Tool for Remote Working
- Insurtech MIC Global Receives ‘In-Principle’ Approval to Launch Lloyd’s Syndicate
- UK Regulator to Review ‘Crippling’ Post-Grenfell Property Insurance Costs
- Allianz and UniCredit Expand Longstanding Multi-Country Bancassurance Agreement
- Insurtech Unicorn Bolttech Weighs Raising $300M in Fresh Funds
- UK Insurer First Central Weighs Sale That Could Value Business at £600M: Sources
- Everest Re Group Signs UN Principles for Sustainable Insurance
- Climate Risk Is Top London Market Challenge, IUA Survey Shows
- People Moves: AEGIS London Names Powell CEO, as Croom-Johnson Retires; Corvus Hires Zurich’s Delvos as 1st Head of Int’l; HDI’s Jackson to Lead Aviation at Apollo
- UK Business Closures Jump 14% as Pandemic Takes Brutal Toll on Small Firms
- Generali to Raise Stake in Indian P/C Insurance Joint Venture to 74%
- How Insurers Can Build Operational Resilience With Low-Code Application Programs
- Only 38% of 2021’s Natural Disaster Losses of $343B Were Covered by Insurance: Aon
- China Strengthens Anti-Money Laundering Rules for Financial Services Firms
- AllianzGI Creates Unit Focused on Investing in Companies With Measurable ESG Impact
- Generali Loses Third Board Director in Less Than 2 Weeks
- Owners of High-End London Restaurants Sue AXA Over Failure to Pay COVID Claims
- People Moves: Peak Re Appoints Echo Re’s Nowakowski to Lead P/C Underwriting; Gallagher Re Hires EMEA Dir. for Public-Private Initiatives; Pool Re’s Enoizi to Work With Cambridge Centre for Risk Studies
- Italy OKs Treasury Taking Control of Credit Insurance Agency SACE
- UK Regulator Warns Firms to Protect Customers in Liability Management Schemes
- World’s Largest Asset Owners Pledge to Halve Emissions in Portfolios by 2030
- Regional Cyber Conflicts Could Lead to Infrastructure Attacks in 2022: CyberCube
- UAE Bans Flying of Recreational Drones After Fatal Attack on Oil Facility
- MGA Pen Underwriting Forms 2 New Capacity Deals With QBE Worth £300M
- People Moves: Marsh Promotes Payne to UK Chair of FINPRO; WTW Hires Smith From Lloyd’s for Digital Trading; Aon Bolsters UK Operations’ Team With 2 Hires
- Operator of Japan’s Crippled Fukushima Nuclear Plant Face Another Setback in Clean-up
- Aviva Broadens Sustainable Investments to Include Biodiversity, Human Rights
- Howden Acquires Italy’s Tower SpA
- Generali Proposes Candidates for New Board as Battle Rages On With Leading Investors
- People Should Get Back to Office, Learn to Live With Coronavirus: UK Business Minister
- Aspen Expands Agreement to Provide Capacity for Ryan Specialty’s MGU Portfolio
- UK Hospitality Groups Are Back in Court With Insurers Over Lockdown Losses
- People Moves: Muñiz Named GC&C’s Head of Construction & Green Energy; Gallagher Re Hires Hiscox’s Kim for Cyber; Chubb Promotes Kropp to Global Head of Operations/Tech
- Data of 515,000 People at Risk After ‘Sophisticated’ Hack of Red Cross
- Shell Appeals $2 Billion Court Judgment in Nigerian Oil-Spill Case
- Russian-Backed Actors Targeting Canada’s Infrastructure, Intelligence Agency Warns
- People Moves: Lloyd’s Names Chubb’s Miller as Commercial Dir.; Chubb Promotes Meyer to Switzerland Country Pres.; WTW Hires Aon’s Weda for Corp. Risk & Broking, Benelux
- Oil Spill Caused by Massive Waves From Tonga Is ‘Ecological Disaster’ for Peru
- In Both Hard and Soft Markets, Zurich Aims to Maintain Focus on Underwriting Discipline
- Insurtech Reask Gets Funding to Deliver Next-Generation Natural Disaster Modeling
- UK Insurtech Zego Expands in Europe, Targeting £20B Fleet Insurance Market
- Cyber MGA Resilience Becomes Lloyd’s Coverholder
- Investors Cannot Sue German Regulator for Wirecard Collapse, Court Rules
- UK Financial Watchdog to Curb Marketing of Cryptoassets, Other High-Risk Investments
- Tonga Avoids Widespread Disaster Despite Massive Volcanic Blast
- People Moves: Hamilton Names AIG’s Friston for Financial Lines; WTW Hires Marsh’s Baker for FINEX Banking; Howden Re Taps Berkley Re’s Pike for Treaty Reinsurance
- Loss Experience Drives Prices During January Reinsurance Renewals: Fitch
- Net-Zero Insurers’ Climate-Friendly Plans to Exit Coal Impeded by Antitrust Laws
- UK Car Insurance Premiums Expected to Be Volatile in 2022: Survey
- UK High Court Throws Out Case Brought by Climate Activists Against Oil Regulator
- Shortage of ESG Experts Could Have Negative Effect on Canada Financial Services Firms
- Asian Insurer FWD Group Raises $200M in Pre-IPO Funding: Sources
- Cyber, Business Interruption, Natural Disasters Ranked as Top 3 Business Risks: Allianz
- Damage Still Being Assessed on Tonga After Massive Volcanic Eruption
- Lloyd’s Weighs Future of Headquarters as Market Embraces Flexible Working
- Malware Found in Several Ukraine Gov’t Agencies, IT Firm That Manages Websites
- New Public-Private Consortium Aims to Develop Protection Against Systemic Risks
- Lloyd’s Forms New Operational Structure to Deliver Blueprint 2 Modernization Program
- Credit Suisse Plunged Into Chaos After Chairman Ousted for Breaching COVID Rules
- Generali’s Boardroom Battle Escalates With Resignation of No. 2 Investor
- People Moves: Everest Re Promotes Klinger to Lead Int’l Reinsurance; HDI Global Hires Chubb’s Carberry as Head of U/W, Ireland; HSBC’s Rutherford to Aon’s UK FI Team
- Teenaged Cyber Prodigy Stumbles Onto Software Flaw Letting Him Hijack Teslas
- Container Shipping Giant Maersk Speeds Up Decarbonization Target by a Decade
- LIC Could Begin Issuing Public Shares for India’s Biggest IPO by Mid-March: Sources
- Canada’s Insured Catastrophe Losses Exceed C$2 Billion in 2021: CatIQ
- ‘Cybersecurity Failure’ Named a Critical Global Threat in WEF Survey Report
- Update: Credit Suisse Files 5 Insurance Claims Related to Greensill-Linked Funds
- UK Cyber Insurtech KYND Receives £3.25 Million Investment from BGF
- Climate Activists Behind Landmark Shell Verdict Set Sights on 30 Multinationals
- Reinsurers’ 2022 Profit Outlook Better Than Primary Insurers: Fitch
- Specialist Risk Group (SRG) to Acquire Bridge Insurance Brokers’ Special Risks Team
- Foxconn India Restarts Production at iPhone Plant After December’s Worker Protests
- Global Life Insurers Adapt Pandemic Risk Models After Unexpected Jump in Claims
- Thawing Permafrost Could Damage Up to 50% of Arctic Infrastructure: Report
- Lloyd’s, IUA Sign Contract With DXC to Help Build Fully Automated Processing
- WTW Launches Crisis Management Business Unit for Security Risk Management
- Xenia Broking Buys Trade Credit & Surety Business From Tysers
- Heavy Rainfall in Brazil Halts Giant Iron Mines, Triggers Concerns About Tailings Dams
- Specialist MGA Platform Pine Walk Launches Energy Liability MGA, OPEnergy
- India Pushes for $203 Billion Valuation for State-Owned Insurer in Mega IPO: Sources
- Efma-Accenture Innovation Awards Offer View of Insurance Industry’s Transformation
- Life Insurance Corp. of India’s IPO Prospectus Could Be Filed in Final Week of January
- People Moves: BHSI Promotes Kidd to Country Mgr., Ireland; BMS Iberia Hires WTW’s Melero for Affinity Practice; Fidelis Promotes Jarvis to Deputy Dir. of Underwriting
- MGA First Underwriting Forms £1B, 5-Year Capacity Deal With R&Q’s Accredited
- Legacy Specialist Enstar and Aspen Insurance Agree to $3.12B Loss Portfolio Transfer
- Israeli Cyber-Security Startup Pentera Raises $150M in Funding, Weighs IPO
- Climate Crisis Is Top Risk Facing World for Next Decade: World Economic Forum Survey
- Berkshire Hathaway Invests in Ariel Re, Extends Quota Share Agreement
- People Moves: SiriusPoint Promotes Chester for U.S./Canada Reinsurance; Banyan Risk Names Ascot’s Horrobin as Co-Founder, Co-CEO; SCOR Reinforces Sustainability Teams
- Movo Partnership Acquires 3 Commercial UK Brokers
- Dirty Money Worried Swedbank Compliance Officers but Bosses Kept Mum: Documents
- Natural Disasters Cost Insurers $120B in 2021. Munich Re Points to Climate Change Link.
- UK Orders Housebuilders to Pay $5B to Help Remove Dangerous, Flammable Cladding
- China’s Anti-Graft Watchdog Probes Chairman of China Life Insurance
- Arch Re Promotes Moeller to CEO, With Bongiorno, Hackett as CUOs; Brit Hires Hiscox’s Allchorne, Aviva’s Wells for N. America Open Market Property Team
- Global M&A to Remain Strong in 2022 as Valuations Reach Record Highs: WTW
- Qatar Airways Seeks More Than $600M in Dispute Over Airbus A350’s Surface Flaws
- Fortitude Re Forms Bermuda Multi-Line Reinsurer, Buys U.S. Life Insurer
- Airbus Faces €300 Million Lawsuit From Group of Investors Over Bribery Scandal
- Canada’s Insurers and Banks Rethink Return-to-Office Plans Amid Omicron Concerns
- People Moves: WTW Hires Magilton to Lead Canada Risk & Broking, Powney to Head Surety for Europe/UK; Hiscox Re & ILS Names MS Amlin’s Wilken as CUO
- UK Personal Lines Insurers Adjust to New Pricing Rules. Is Premium Volatility Ahead?
- France Data Privacy Watchdog Slaps €150M Fine on Google for Misusing ‘Cookies’
- MS Amlin Launches 2nd Asia-Focused Special Purpose Reinsurance Vehicle for ILS
- UK Broker Aston Lark Buys Phoenix Healthcare in 2nd UK Acquisition of 2022
- CFC Merges Medical Malpractice and Healthcare Teams to Build Critical Mass in London
- Cryptocurrency Crime Hit Record $14 Billion in 2021: Research
- Lloyd’s Forms ‘Product Launchpad’ to Develop Insurance Solutions for Emerging Risks
- People Moves: Aon’s Heinicke to Lead Casualty for WTW in Bermuda; KPMG UK Promotes Jones as Head of Insurance Practice; Howden’s King to Miller in Singapore
- Optio Acquires Warranty & Indemnity-MGA Brockwell Capital
- French Court Allows Class Action Against Sanofi Over Its Epilepsy Drug Depakine
- Mercedes-Benz Owners Warned of Fire Risk but Parts Are Unavailable to Fix Problem
- Many Re/Insurance Buyers Are ‘Frustrated’ With Multiple Years of Price Rises
- 2021 Ranked as Fifth Hottest Year by EU Climate Change Service
- Robertson Named CEO of Canopius, Succeeding Watson Who Continues as Chairman
- Canada’s Western Financial Group Buys Ontario Insurance Brokerage Wiesner Insurance
- People Moves: Mosaic Hires BHSI’s Dilley to Lead Financial Institutions; BMS Re Names Guy Carpenter’s Gomez as EVP, LatAm & Caribbean
- COVID-19 Claims of $44B Are 3rd Largest Catastrophe Loss: Howden
- UK Broker Aston Lark Acquires Mainstay Insurance
- Foxconn Unlikely to Reopen India iPhone Manufacturing Facility Until Jan 7: Official
- China Evergrande’s Investors Protest, Shouting ‘Return Our Money!’
- European Floods in Mid-July Cost Insurers $12B, Topping Non-U.S. Events in 2021
- Cyber Insurtech Corvus Buys Lloyd’s Coverholder Tarian Underwriting Ltd.
- Investors Demand $2.5B in Possible German Class Action Over Bayer’s Monsanto Deal
- January Renewals ‘Orderly’ but Loss-Affected Programs Saw More Challenges: Carpenter
- ASML Reports Fire at Berlin Factory That Makes Key Equipment for Chip Manufacturers
- Yemeni Fighters Hijack UAE-Flagged Cargo Ship, Saudi-Led Military Coalition Says
- Indian iPhone Plant Workers Became Ill From Tainted Food. Then a Rare Protest Began.
- Tokio Marine Appoints Hirai as CEO for Asia Region
- Zurich Insurance to Sell Italian Life and Pensions Back Book to Portugal’s GamaLife
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