International & Reinsurance News for May 2022
- AM Best Revises Randall & Quilter’s Credit Ratings After Brickell Purchase Terminated
- People Moves: Canopius Restructures Global Underwriting Operations, Makes Senior Appointments
- Global Re/insurers See Average Premium Increases of 11% in 1st Quarter: Gallagher Re
- Season’s First Hurricane Pummels Mexico With Strong Winds, Heavy Rain
- Insurance Premiums Surging for Ukraine War-Exposed Business: Sources
- EU Leaders Agree to Pursue Ban on Most Russia Oil; Insurance Prohibition Delayed
- Insurer FWD Delays $1 Billion Hong Kong IPO: Sources
- U.S. Seizes Iranian Oil Cargo From Russian-Operated Ship Near Greece: Sources
- Generali’s 2nd Largest Investor, Who Sought to Oust CEO, Quits Board
- Ukraine’s Richest Man Plans to Sue Russia for Destruction of Steel Plants, Lost Business
- Russia Plans to Seize Local Units of Western Firms That Try to Exit Country
- Canada Releases Draft Guidelines to Manage Financial Risks of Climate Change
- Dutch Insurer NN Group Expects to Accelerate Exit From Coal Investments
- Financial Services Firms Face Disclosure Requirements for Biodiversity Investments
- People Moves: Oneglobal Appoints IRB’s Oka as CEO Reinsurance Brazil; Chubb Names 3 Senior Leaders for Financial Lines in UK, Ireland, S. Africa, Global Markets
- Update: Brickell Pulls Plug on Acquisition of Randall & Quilter; R&Q Plans Fundraise
- Howden Gets Regulatory Nod to Raise Stake in Howden India to 100%
- Mexico Prepared to Sue U.S. Mining Firm Vulcan Over ‘Ecological Catastrophe’: President
- Iran Building Collapse Kills at Least 14 People
- Risky Ship-to-Ship Transfers Keep Russian Oil Moving to China
- Volkswagen to Settle UK ‘Dieselgate’ Class Action for $242 Million
- Mining Company Glencore to Pay Up to $1.5B to Settle U.S., UK, Brazil Bribery Probes
- People Moves: AXA XL Names Benet Global CUO, Succeeding Bewlay; Marsh’s Neild Joins Howden’s UK Cyber Retail Practice; MS Amlin Taps Compre’s Margetts for Strategy
- HDI International to Acquire Retail Insurance Business of Sompo Seguros in Brazil
- Cryptocurrencies May Pose Risk to Wider Financial Stability: ECB
- Former Executive of PICC Property & Casualty Expelled From China’s Communist Party
- Insurance (or Lack of It) Is Russian Oil’s Achilles’ Heel
- Fairfax-Backed Digit Insurance Targets $5B in India IPO Valuation: Sources
- People Moves: Arch Hires Chaucer’s Bauckham for Terrorism, Political Violence & War Team; Dale Moves Into Marine Treaty With 2 Hires From MS Amlin
- R&Q’s Accredited Europe Signs 6-Year Program Management Deal with UK Insurtech
- Insurers, Banks Must Take Climate Action or Face Profit Hit, Higher Capital Charges: BOE
- MS Amlin Partners With Insurtech Altelium to Offer Cover for Battery Energy Storage
- Munich Re Issues Green Bond in U.S. Market, in a First for a European Insurer
- Credit Agricole Italy Weighs Investing in Banco BPM’s Insurance Business
- WTW Launches Cyber Coverage for Ports and Terminals
- HSBC Banker Suspended After Playing Down Financial Risks of Climate Change
- Insurer Aspen Completes $3.12B Loss Portfolio Transfer With Run-Off Specialist Enstar
- People Moves: Guy Carpenter Names N. America GC Access Exec Team; Marsh Promotes Perry for Political Risk & Structured Credit; WTW’s Hodgkinson to Join BMS Asia
- Insurer FWD Wins Approval for Hong Kong IPO
- Volkswagen Targeted in Court Case That Seeks to Eliminate Polluting Cars by 2030
- Global Power Grids Face Biggest Test in Decades With Summer Blackouts Expected
- Swiss Re and UBS Among Founding Buyers of Credits From Carbon Removal Scheme
- Memo to Brokers: Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
- British Insurance Brokers’ Assn., Allianz Create Digital Guide to Combat Underinsurance
- People Moves: NFP Names New Exec Team in Canada; Acrisure Re Hires WTW’s Ainsby to Lead New Asia Fac Unit; Howden Sweden Taps WTW’s Gustafsson as CEO
- Japan Approves Plan to Release Wastewater From Fukushima Nuclear Power Plant
- Financial Risks of Climate Change Are Exaggerated: Senior HSBC Banker
- Pollution Kills 9 Million People a Year, Mostly in Poorer Nations
- Charges of Violence, Bullying Follow Mass Employee Exodus at Calgary Oil Firm
- Zurich Insurance to Sell Russian Business to Local Team
- Allianz Buys Majority Stake in Jubilee General Insurance Co. of Tanzania
- Global Broking Network Brokerslink Adds First Tech Firms as Members
- Investment Firm Brookfield to Buy UK Repair Site HomeServe for £4.1B
- Generali Q1 Net Profit Beats Forecasts, Despite Russia Impairments
- Timeline of Key Events in Collapse of Allianz’s Structured Alpha Funds
- Hungary Eyes Raising Domestic Ownership in Sectors Such as Insurance
- Canada Crop Land ‘Deteriorating’ as Heavy Rain Hinders Planting
- Climate Change Boosted Cost of Japan’s Typhoon Hagibis by $4B: Study
- People Moves: AGCS Promotes Major for Claims – London & Nordics; Conduit Re CRO’s Role Expands to Include Climate Initiatives; WTW Names Keville Head of FINEX GB FI
- Central Japan Water Leak Threatens Operations at Auto, Power Companies
- Munich Re Launches Validation Service for Artificial Intelligence Systems
- UK Insurer Aviva May Be Able to Return More Cash to Shareholders: CEO
- SiriusPoint Announces Resignation of Chairman and CEO Sankaran
- Starr Insurance Cos. Acquires Thai Non-Life Insurer
- Probe Into China Eastern Airlines’ Crash Examines Actions of Crew
- Rise of Remote Work to Define Future of City of London
- UK Investigates Source of Monkeypox Cases
- People Moves: Liberty Mutual Re Hires AXA XL’s Sharman for Casualty Re; SiriusPoint Taps AXA XL’s Pascall as Head of London and Int’l Casualty
- Allianz to Pay Over $6B for Structured Alpha Fraud, Former Fund Manager Indicted
- Businesses See Cyber Attacks as Biggest Threat – Ahead of Pandemic, Economy: Survey
- India’s LIC Shares Slump After Record, but Disappointing, IPO
- Climate Change Is Hurting Insurance Industry: Report
- Natural Disasters, Ukraine War Weigh on Q1 Results of Europe’s Major Reinsurers
- People Moves: QBE Hires RSA’s Germain as Group CIO; MS Amlin Taps AXIS’ Ferguson for Open Mkt. Property; Generali Names 3 for Italy, Global Business Lines
- Drugmaker Sanofi Ordered to Compensate French Family for Epilepsy Drug Side Effects
- Climate Change Exacerbated Deadly Floods in South Africa: Study
- EU Agrees to Tougher Cyber-Security Rules for Key Sectors, Including Financial Services
- Russia’s Aeroflot Buys 8 Stranded Airbus A330 Aircraft From Leasing Firms
- India’s LIC Prices IPO at Top of Indicated Range: Source
- People Moves: AGCS Promotes Todorovic for Political Violence Unit; Aon Hires Knight From Navigators & General for Global Yacht Practice
- Africa Specialty Risks Increases Energy Portfolio’s Capacity to $38 Million
- Zurich Reports Strong Growth in Q1, Driven by Rising Commercial Insurance Rates
- Lloyd’s Broker Superscript Offers Insurance for Crypto, Digital Asset Businesses
- AXA to Join €1B Regenerative Agriculture Fund to Help Mitigate Climate Change
- KPMG Faces $18 Million Fine for Misleading British Regulator
- People Moves: Canopius CUO Duffy to Retire Next Year; AXA XL Promotes Baker to Head of Construction, UK & Lloyd’s
- Howden Acquires Singapore-Based AEGIS Insurance Agencies
- BMS Launches Operations in New Zealand
- Russia’s War With Ukraine Must Not Derail Climate Action: Envoys Warn
- Extreme Weather Threatens Global Wheat Crops – With One Notable Exception
- Sexism in Financial Services Has Gotten Worse, Says Aviva CEO Amanda Blanc
- Lloyd’s of London AGM to Go Virtual on Threat of Climate Protests
- Howden Launches End-to-End Digital Trading Platform for Cargo Risks
- Major European Power Cable Suppliers Face UK Class Action Over Alleged Cartel
- Allianz Sets Aside Another $2 Billion for Structured Alpha Fund Debacle
- Zurich Insurance in Talks to Sell $21 Billion Portfolio to Cinven’s Viridium: Sources
- Aircraft Lessors Begin ‘Vigorous’ Pursuit of Insurance Claims for Seized Jets in Russia
- UK’s Terrorism Reinsurer Pool Re to Reduce Reinsurance Pricing for Insurers
- Britain Aims to Bolster Competitiveness in Financial Services With Nimbler Regulation
- Content Moderator in Kenya Sues Facebook Owner Meta Over Working Conditions
- Australia’s AUB Group Agrees to Purchase UK Broker Tysers for US$615.2 Million
- Paris Trial Begins for 2009 Plane Crash That Killed 152 People, Left 1 Survivor
- Multiple Marine Insurance Claims Expected From War in Ukraine: Allianz
- EU to Weaken Russia Oil Sanctions, but Keeps Plan to Prohibit Insurance of Shipments
- Software Company SAP Wrestles With Concerns Over Gender Equality, Senior Exits
- People Moves: Chubb Canada Names Johnstone President as Alfieri Retires; MGA Loadsure Promotes; Canopius Names Atrium’s Wallace for Marine Treaty
- Foreign Institutional Investors Steer Clear of India’s Biggest IPO
- Generali Increases Stake in Indian Non-Life Joint Venture
- Rescuers Search for Survivors After Powerful Explosion at Havana Hotel
- Insurance Price Tag for Australia’s Record-Breaking Floods Estimated at A$3.35B: ICA
- Russia’s Leading Shipping Firm Sovcomflot Plans to Sell Part of Its Fleet: Report
- Dubai Aerospace Files Insurance Claims of $1B for Aircraft Stranded in Russia
- Insurer Aviva Urges UK Government to Detail How It Will Reach Net Zero Emissions
- Europe’s Top Court Rules Against Compensation for Banco Popular Investors
- Paris Resident Seeks $22M for Health Damage Caused by Air Pollution
- EU Regulator Warns of Increased Risk to Airlines as Result of Ukraine War
- Swiss Re Reports Q1 Loss as Ukraine War, Natural Disasters and COVID Take Their Toll
- QBE Re Restructures to Create Connected Business, Consistent Client Experience
- Financial Services Firms Face Losses of $225B From Variety of Water Risks: Report
- Fidelis Insurance Moves to New London Office
- Update: Record $2.7 Billion IPO by India’s Life Insurance Corp. Is Oversubscribed
- QBE Reports 22% Surge in Q1 Premiums, Expects Hit From Ukraine War
- AXIS Insurance International Launches Portfolio Underwriting Unit in London
- People Moves: Lim Promoted to CEO, Howden Singapore; Liberty Specialty Mkts. Hires Lim for Aviation Claims; OdysseyRe Taps Everest’s Finnegan for U.S. General Casualty
- Western Ship Insurers Terminate Cover for Russia’s Sovcomflot as Sanctions Expand
- Africa’s Largest Insurer, Samlam, Partners With Allianz on $2.1 Billion Deal
- EU Seeks to Target Russia’s Global Oil Exports With Insurance, Services Ban
- Lessor Avolon Reports $304M Impairment Over Seized Russian Aircraft
- Pay for UK Financial Services Workers Surges at Double National Rate
- Global Supply Chain Woes Worsen, With Major Ports Facing Long Delays: Report
- UK’s Aston Lark Purchases UKGlobal Broking Group in 50th Acquisition
- Allianz Plans to Take Harder Line on Insuring Fossil Fuel Industry to Meet Climate Goals
- Central Banks, Supervisors Must Focus on Financial Resilience to Climate Change: BoE
- Generali’s Board Reappoints CEO Without Support From Rebel Investors: Sources
- Bird Flu Forces Free-Range Chickens Into Lockdown, From Pennsylvania to France
- Net Zero Business Opportunities Could Double Size of London Insurance Market: LIIBA
- China’s Ping An Profit Drops 24% as Pandemic Deals Blow to Business
- Global Shipping Industry Pushes to Rescue Seafarers Trapped in Ukraine
- Howden, Munich Re and Skyline Develop Parametric Cover for Jamaica Farmers
- Intact Financial Corp. and Tryg Complete Sale of Codan Denmark to Alm. Brand
- Brown & Brown Agrees to Acquire Dublin’s Quinlan Insurance
- Musk-Owned Twitter Will Have to Follow EU’s Rules: Commissioner
- EY Sued in UK for Alleged Negligence in Audits of Troubled Hospital Operator, NMC
- Pro-Russian Hacking Group Attacks Romanian Websites
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