International & Reinsurance News for April 2023
- Specialty Re/Insurer Canopius Has Management Shake-up With 3 Execs Exiting
- People Moves: Howden Appoints Marsh’s Howell for Multinational Client Practice; BMS Re Hires Soria as Head of New Business Solutions, Co-head of Casualty
- Insured Losses for Southeast Australia Floods of October 2022 Rise to A$907M: PERILS
- Markets/Coverages: Swiss Re, Insurtech Benekiva Partner to Offer L&H Claims Solution
- Mental Ill Health Drives Britain’s Crisis of Worker Sickness: Research
- Rising Oil Prices Complicate Russian Price Cap Checks for Insurers
- Cyber Insurance Rate Hikes Moderate, While Property Prices Rise in Most Regions: Marsh
- Ship Insurers Warn of Russian Oil Price Cap Evasion, Risks of Growing ‘Dark Fleet’
- Ermotti Steps Down as Swiss Re Chair on April 30 When de Vaucleroy Takes Interim Role
- Allegations Against Former Barclays CEO Staley ‘Very Serious’: CEO
- Fire Fears After UK’s Grenfell Disaster Set Back Wood Building, With Insurance as Factor
- ESG Backlash Overshadows Power to Drive Better Returns: UK’s Biggest Fund Manager
- Hybrid-Work Environments Are Becoming More Inclusive for Women: Deloitte
- Verisk Acquires German Motor Claims Insurtech SV Krug
- China’s Ping An Insurance Reports 48.9% Rise in Q1 Profit
- People Moves: Hiscox Re & ILS Hires Hamilton Re’s Shah as Dir. of U/W Risk; BHSI Names Claims Execs in Germany; Aon’s Reins. Solutions Taps AXA XL’s Grigg for Cyber
- EU Lawmakers Back Human Rights, Environmental Checks for Big Companies
- North Sea Nations to Develop Critical Infrastructure Security Pact
- Russia’s Lavrov Blames West for Deadlock Over Future of Black Sea Grain Deal
- Private Health Care Booms in Britain as State-Run Health Service Buckles
- Japan’s Sompo to Focus on Integration After Spree of Overseas Acquisitions
- People Moves: Howden Names Holz as CEO for Germany, Creating Howden Deutschland; Chubb Promotes Vaughan for High Net Worth Insurance Business in Europe
- Specialist Risk Group Launches Platform for European Operations
- Ardonagh Advisory to Buy HNW Broker Stanhope Cooper, MGA Renovation Underwriting
- Tokio Marine Weighs Sale of Southeast Asia Life Unit Valued at $1 Billion
- CBI President Says Business Group May Not Survive Sexual Assault Scandal
- Brazilian Reinsurer Resolves U.S. Probe Into Fake Berkshire Hathaway Story
- People Moves: Startup Intangic MGA Names Marsh’s Durkan as Commercial Dir.; Helvetia Taps Rupprecht From NN Group as CEO; BMS Hires Ardonagh’s Leather as UK, Int’l CFO
- Fairfax Financial’s Ratings Unaffected by Move to Buy Gulf Insurance Group: DBRS
- Russia’s Medvedev Says G-7 Export Ban Could Trigger Black Sea Grain Deal Exit
- Howden Builds War Chest for Investments of More Than £1B; Blanc Named Head of M&A
- EU Regulators Set Out Ideas to Help Plug Climate ‘Insurance Gap’
- Generali Seeks Buyers for Tua Assicurazioni Unit
- Markets/Coverages: Marsh Launches Global Facility Backed by QBE for All Major Classes
- Housing Market Downturn Among Top Risks to Canada’s Financial System: Regulator
- Update: Major UK Companies Abandon CBI Following Second Rape Claim
- Argo Group Shareholders Approve Merger With Brookfield Reinsurance
- Record Heat and Drought Force Europe to Accelerate Climate Adaptation
- Tanker Company Shipping Russian Oil Loses Insurance on G-7 Price Cap
- Credit Suisse Lodges $440M Claim Against SoftBank in Greensill Dispute
- Capita Warns Customer Data May Have Been Stolen in Cyber Attack
- Lukoil Buys Into AIG’s Former Russian Subsidiary
- Gallagher Launches Brokerage in Japan, Led by 2 Former Marsh Execs
- Cyber Firm Group-IB Finalizes Exit From Russia to Spur Global Expansion Ambitions
- BMS to Acquire Australian Broker Western United Financial Services
- British Officials Sound Alarm on Spyware, Mercenary Hacking Market
- Hannover Re Latest Company to Leave Net-Zero Insurance Alliance
- EU Announces $1.2B Plan to Counter Growing Cyber-security Threats
- Russian Hackers Target Western Critical Infrastructure, UK Warns
- Hyundai Auto Canada Guilty of Safety Violation, Transport Canada Says
- Japanese Banks (and Insurers) Face Spotlight for ‘Gender Washing’ Women Managers
- Canada’s Desjardins Is Seeking Property/Casualty Insurance Acquisitions
- People Moves: Everest Names Mulray President of North America Insurance; Swiss Re Names Aon’s Quiroga Arias as Head Risk Consulting & Analytics
- Markets/Coverages: Resolute Global Partners Launches New Type of Reinsurance Contract
- China Expected to Cut Fine on Ant Group to About $700M: Sources
- Pro MGA Global Solutions Announces Incubation Partnership With MGA Nirvana
- Climate Activists Sue EU for Labeling Gas and Nuclear Investments as ‘Green’
- Supply Chain Hack in Japan Provides Warning for Businesses Across the Globe
- Japanese Insurer’s Plan to Sell Foreign Debt Flashes Market Warning
- People Moves: Sompo Int’l Promotes Hyland to President of North America Reinsurance, Succeeding Hanke; Kegel Appointed Managing Director, DUAL Benelux
- Global Insured Losses Estimated at $15B in Q1, With Economic Price Tag of $63B: Aon
- French Court Clears Air France, Airbus Over Rio-Paris Plane Crash
- MGA Rokstone Launches Credit and Surety Treaty Division
- Western Australia Assesses Damage From Cyclone Ilsa’s ‘Path of Destruction’
- G-7 Ministers Set Big New Targets for Solar Power and Offshore Wind Capacity
- Scandal at CBI Plunges UK Business Lobby Into Existential Crisis
- UK Law Firm Ince to Seek Sale, Amid Cash Concerns, Delays in Reporting Results
- Thieves Blow Up German ATMs Every Day, With Attacks Rising 40%-Plus Since 2019
- Western Australia’s Iron Ore Export Hub Reopens as Cyclone Moves Inland
- Howden Launches Marine & Energy Business in Norway, Led by Lund From WTW
- Global Watchdog Issues Blueprint for Banks to Report Cyberattacks
- IMF Sees Risk of Supply Chain Security Leading to New Cold War
- Generali Prepares to Sell Pensionskasse Unit to Fosun International’s German Unit
- People Moves: AIG Asia Pacific Appoints BHSI’s Colahan as Regional President; Gallagher Re Hires McMillan From Siemens as Renewable Energy Practice Leader
- Germany Inches Toward Legalizing Personal Use of Cannabis
- UK Broker Clear Group Acquires Irish Broker MBC Insurance
- Markets/Coverages: Apollo Forms ICX Consortium to Drive Insurance Industry Innovation
- Australia’s Iron Ore Export Hub Braces for Powerful Cyclone Ilsa
- Kremlin Warns Outlook for Extending Black Sea Grain Deal Is ‘Not so Great’
- People Moves: Sompo Promotes Cañellas to Iberia Country Mgr.; Oneglobal Reshuffles Leadership Team; Watkins to Lead Excess Casualty, Bermuda Healthcare at Vantage
- Third Point’s Loeb Looks to Take Re/insurer SiriusPoint Private
- Re/insurance MGA Aspect Labs Opens for Business, Backed by Everest Re and AmTrust
- Russia’s Largest Cargo Airline Ordered to Pay Aircraft Lessor BOC Aviation $406.2M
- French Building Collapse Kills at Least 6; Gas Explosion Suspected
- NFP Acquires UK Broker Gravity Risk Services
- German Superyacht Maker Lürssen Hit by Ransomware Cyber Attack
- People Moves: Generali GC&C France Promotes 2 Execs; Gallagher Securities Hires Zanelli as EVP, N. America; Mosaic Names Bakhshi CFO, Haque for Capital Solutions
- Ardonagh Acquires Dutch Insurance Broker Klap from Nedvest
- Western Australia Could Be Hit by Biggest Cyclone in Almost a Decade
- UK’s Confederation of British Industry Fires Director General After Probe of Complaints
- Fox News Settles With Venezuelan Businessman in Election Defamation Lawsuit
- UK’s FCA Hires More Than 150 Staff for Data Unit to Ramp Up Tech Capabilities
- Building Explodes and Collapses in Marseille, France
- Nexus Acquires Majority Stake in Dubai-Based MGA, Spectrum Risk Management
- Brazil Class-Action Lawsuit Seeks $2.5B in Damages From Alleged Orange Juice Cartel
- Russia Threatens to Bypass UN-Brokered Grain Deal, Cites Insurance as Barrier
- Russia’s GAZ Group Files $348M Suit Against Volkswagen
- AM Best Places Ratings of R&Q and Subsidiaries Under Review with Neg. Implications
- Toronto Office Vacancies Hit 28-Year High as Remote Work Persists
- Howden Receives License to Launch Operations in Bahrain
- Munich Re Will Not Extend Nord Stream 1 Coverage When It Expires This Year
- EU Vote on Human Rights ‘Due Diligence’ Looms for Financial Services Firms
- Paris to Ban Electric Scooters in September
- Germany’s Allianz Does Not Plan to Renew Policy for Nord Stream 1 Project
- Western Curbs on Russian Oil Products Redraw Global Energy Shipping Patterns
- Zurich Exits Insurance Climate Alliance, Days After Munich Re
- Beat Capital Launches Specialist Energy Insurance Business With Charlton as CEO
- Companies That Form Global Climate Alliances Need Antitrust Guidance: Experts
- Cowbell Cyber Launches UK Operations, With Hughes From CFC Named General Mgr.
- TikTok’s Chinese Ownership, Security Concerns Spark Bans Across Nations
- New Images From Inside Fukushima Nuclear Reactor Spark Safety Concerns
- Australia Is Inadvertently Inviting Cyber Crimewave, Data Theft Victim Service Warns
- Markets/Coverages: Insurtech Parsyl Launches $20M Lloyd’s Consortium for Perishable Cargo
- UK Water Companies to Face Unlimited Fines for Polluting Rivers, Sea
- Markets/Coverages: Cyber MGA Astaara Expands Capacity Limit to $25 Million
- Ardonagh Advisory Acquires UK Broker Pace Ward
- R&Q Weighs Separation of Program Management and Legacy Insurance Businesses
- Sompo International Gets License to Write Primary Insurance in Switzerland
- BMS Launches Middle East Operations With Acquisition of UAE’s Berns Brett Masaood
- Car Services Groups Warn of Unfair Competition as EU Data Plan Stalls
- Australia Regulator Questions Benefits of ANZ’s $3.3B Suncorp Buyout
- German Insurers Renew Cover for Blast-Damaged Nord Stream 1 Gas Pipeline
- Gallagher’s Pen Enters Specialist Marine Market With Purchase of Tay River Holdings
- Australia Contractor Downer Faces Class Action Lawsuit for Misreporting on Contract
- People Moves: Chubb Names Chasseguet as Country President, France; MGA Pen Taps Gallaghers’ Alsegard as Head of IP; McLarens Appoints 5 for Mideast Team
- Leading Investor Group NZAOA Toughens Stance on New Upstream Oil & Gas Projects
- MS Amlin’s Long-Term Issuer Credit Rating Downgraded by AM Best
- UN Maritime Agency Raises Safety Concerns About Shadow Oil Tanker Fleet
- Munich Re Exits Insurance Climate Group, Citing ‘Material’ Legal Risks
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