International & Reinsurance News for July 2023
- Wildfire Risk Climbs for Spain as Heat Wave Moves to Iberia
- People Moves: Lockton Taps Swiss Re’s Wright to Lead UK Commercial Wholesale, Succeeding Lee; MS Amlin Names Ross From Sedgwick as Product Recall Senior U/W
- EU Companies Get New ESG Rules Aimed at Addressing Climate Risks
- Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
- Update: Burning Car Carrier Off Dutch Coast Towed Away From Shipping Lanes
- Extreme Weather Risks May Make Parts of the World ‘Uninsurable’
- People Moves: Everest Insurance Int’l Taps Brionne and Benson From Chubb, Promotes Mah; SiriusPoint Hires TMK’s Kattan as Global Head of Ceded Reinsurance
- Clear Group Acquires UK Specialist MGA, Profile Risk Solutions
- Global Natural Disasters Cost Insurers $43B in H1, Surpassing 10-Yr Average: Munich Re
- Update: Typhoon Doksuri Roars Into China, Destroying Power Lines, Closing Factories
- Ship Carrying BMWs and Mercedes Ablaze Off Dutch Coast Could Burn for Days
- Barclays Banker Fired Over Sexual Harassment Loses $770,000 Employment Suit
- Inside EU, No Clear Financial Options Exist to Reduce Ukraine Grain Transport Costs
- Update: Greece Fights Almost 200 Wildfires as Wind Raises Risk in Mediterranean
- Typhoon-Prone Philippines Seeks New Insurance After Lapse of Catastrophe Bond
- Climate Change Lawsuits More Than Double in 5 Years as Impacts Hit Home
- Update: China Girds for Typoon Doksuri as Death Toll Rises in Philippines
- Operation Begins to Remove Oil From Rusting Yemen Tanker to ‘Avoid Catastrophe’: UN
- As Russian Oil Crosses G-7’s Price Cap, US Eyes Soft Enforcement
- Canada Financial Regulator Proposes Capital Guidelines for Cryptoassets
- Airlines Face Doubling in War Insurance Premiums After Sudan Losses: Sources
- Markets/Coverages: New Lloyd’s Syndicate Provides E&S Cover for Calif. Wildfire Risks
- Human-Induced Climate Change Plays ‘Overwhelming’ Role in July Heatwaves: Scientists
- Update: Ship Carrying 3,000 Cars Ablaze off Dutch Coast, One Crewmember Dead
- Scientists Alarmed About Antarctica’s Unprecedented Lack of Sea Ice Growth
- Australia Fines Facebook Owner Meta $14M for Failure to Disclose Data Collection
- Russia’s Danube Attacks Threaten Ukraine Grain Exports; Ports’ Insurance Rates Rise
- Japanese Used-Car Exec to Step Down After Revelations of Fraudulent Insurance Claims
- Super Typhoon Doksuri Hits Philippines, Heads to China, Taiwan
- People Moves: Arch Re Appoints Former PartnerRe CUO Schriber as President; WTW Taps Marsh’s Clarke as President, Risk & Broking, Garrard Named Unit’s Chairman
- Chubb Seeks 49% of India’s Kotak General Insurance, Has Edge Over Zurich: Sources
- Greece Wildfires Raise Questions for Tourists About Their Travel Insurance Cover
- Insurtech Accelerant Weighs IPO or Private Share Sale, CEO Says
- UK Court Dismisses Climate Case Against Shell in Blow for Activists
- Apple Faces $1 Billion UK Lawsuit by Apps Developers Over App Store Fees
- Nearly 30 Ships Drop Anchor Near Ukraine’s Crucial Izmail Port After Russian Air Strikes
- AGCS and Local Allianz P/C Entities Now Trading as ‘Allianz Commercial’
- People Moves: Arch Promotes Blois to Underwriting Mgr, Hires 3 PI U/Ws; Canopius Names CFC’s Gayle as Cyber U/W; WTW Taps Sales From Aon for Large Client GB Team
- Howden Switzerland Acquires Specialist Aviation Broker Hudson Sky
- Wildfires Rage Across Greece With Record Heat Forecast for Italy
- Reinsurance Execs From Convex, Swiss Re Set Pacific Record in World’s Toughest Row
- Typhoon Doksuri Gains Power as It Threatens Philippines, Taiwan
- Black Sea Shipping Traffic Drops 35% After Russia, Ukraine Warnings
- Microsoft Hit With EU Antitrust Complaint by German Rival Over Bundling of Teams App
- Markets/Coverages: Insurtech Loadsure Launches Ocean Cargo, Stock Throughput Cover
- UK Support to Rejoin EU Passes 50% for 1st Time Since Brexit
- Black Sea Threats Escalate as Ukraine Warns on Russian Ships
- Ukraine Grain Now Relies on a River That’s Drying in the Drought
- People Moves: RenRe Promotes Lang to Group Chief Risk Officer, Succeeding Branagan; AXIS Taps Former Corvus Exec as Head of Global Cyber & Technology
- Markets/Coverages: AXA XL Launches Carbon Emissions Product for Marine Clients
- AIG, AXA Weighing Sales of UK Businesses: Sources
- UN Could Start Removing Oil This Week From Decaying Yemen Tanker
- Ukraine Setting Up Temporary Shipping Route After Russia Grain Deal Exit: Official Letter
- Russia Issues Warning to Any Ships Traveling to Ukraine’s Black Sea Ports
- European Heat Wave Sees Temperatures Reaching 115F in Sardinia as Greece Burns
- Bain Capital Raises $1.15B for Its First Fund Dedicated to Insurance Investments
- Digital Asset Insurer Evertas Acquires Bitsure, Crypto Mining Insurance Specialist
- Ukraine Plea to Keep Grain Moving Clashes With Reality Facing Insurers, Shippers
- Australia’s Fortescue Hit by Cyber Attack That Disclosed Some Network Data
- UK’s Post-Brexit Access to EU Financial Markets Still Unclear, EU Official Says
- Ideas Are ‘Being Floated’ on How to Get Ukraine, Russia Grain to World: UN
- Ukraine Cargo Insurance Policy Suspended After Russia Quits Grain Deal: Marsh
- Claims Insurtech Tractable AI Raises $65M in Funding Led by SoftBank
- People Moves: Munich Re Names Parhelion’s Richardson as CUO of Green Solutions Portfolio; BHSI Names Walker to Lead UK National Business
- AXA Fund to Invest $49 Million in Brazil Reforestation Projects
- UK Watchdog Proposes Toughening Safeguards Against Illegal Marketing on Social Media
- Travel Essentials: Passport, Money, Bluetooth Luggage Trackers?
- New Saharan Heat Blast Spells More Extreme Temperatures in Europe
- Reinsurance Broker, Augment, Launches With Access to $100M in Funding
- Insurers Reviewing Black Sea Ship Cover After Russia Quits Grain Deal: Sources
- Swiss Investor Group Lawsuit to Seek Compensation Over UBS-Credit Suisse Deal
- South Korea Flood Death Toll Rises to 40; Yoon Blames Botched Disaster Responses
- Canada’s Wildfires Burn Record 25 Million Acres With No End in Sight
- Global Rules Leave Crypto Firms With No Place to Hide: G20 Watchdog
- Update: Typhoon Talim Makes Landfall in Southern China; Flights and Trains Canceled
- Update: WHO Deems Aspartame Possible Carcinogen; Consumption Limits Unchanged
- The Meds They Bought Were Toxic. Now Gambian Parents Seek Justice.
- Clear Group Acquires UK-Based MGA, One Commercial Specialty Ltd.
- Remote Work to Wipe Out $800 Billion From Office Values, McKinsey Says
- Russia Oil Hitting $60 Cap Adds to Crude-Oil Buyers’ Banking, Shipping Woes
- Will S&P Change ‘Negative’ Reinsurance Outlook to ‘Stable’ in 2023?
- People Moves: Canopius Taps Former AXA XL Exec Cooper as Head of Reinsurance & Bermuda CEO; AXIS Re International Appoints Chubb’s Kent as President
- Mining Giants BHP, Vale Face Off in London Court Over Brazil Dam Damages
- Barclays Wins UK Supreme Court Appeal Over Push Payment Fraud
- Japan’s Top Court Rules Government Restrictions on Transgender Employee’s Use of Restrooms Illegal
- Russia’s Flagship Crude Oil Surpasses G-7 Price Cap in Blow to Western Sanctions
- Repricing Is Not Reunderwriting
- EU Widens Probe of Suicide Risks Linked to Weight-Loss Drugs
- Allianz US Unit Ordered to Pay $6 Billion in Securities Fraud Case
- Verlingue Acquires Majority Stake in Italian Broker INSER, Advancing European Strategy
- People Moves: Aon Names UK Leaders for Reinsurance Solutions; Zurich Announces Key Leadership Roles for APAC Commercial Insurance
- UK Polluters to Face Unlimited Fines to Protect Environment
- Canada Regulator Proposes Banks, Insurers Hold More Capital to Tackle Mortgage Risks
- Deutsche Bank, Commerzbank, ING Data Breached in MOVEit Hack
- Russian Hackers Lured Embassy Workers in Ukraine With Fake Used-Car Advert
- Swiss Re Nominates New Permanent Chairman to Succeed Ermotti
- AXA Weighs Offloading $2B Reinsurance Arm to Cut Exposure to Disasters: Sources
- People Moves: Allianz Commercial Taps AIG’s Sandric as Leader Asia Region; Banyan Risk Appoints Munro as CUO; Miller Strengthens Entertainment Team With Senior Hire
- Indonesia Seizes Iranian-Flagged Tanker Suspected of Illegal Oil Transfer
- Markets/Coverages: Coalition Launches Active Cyber Insurance in Quebec
- Former VW Executives Ordered to Testify in Investor Lawsuit
- What’s Next for Ant Group After its Nearly $1B Fine?
- UK Pension Funds Back Next Phase of Post-Brexit Shakeup in City of London
- Insurance Claims From French Riots Rise to $716 Million
- Russia-Linked Oil Tanker Fleet Vanishes Even Faster Than It Grew
- Allianz Replaces UnipolSAI in UniCredit’s Insurance Venture Incontra
- EU Probes Novo Nordisk Drugs After Reports of Suicidal Thoughts
- Suncor Reports Data Breach Affected Petro-Points Members’ Basic Contact Data
- ECB Cyber Stress Test Won’t Deliver Direct Capital Hit to Banks
- Aviation Lessors Fight to Stop Insurance Dispute Hearings in Russia
- London Is Falling Down — Because of Climate Change
- Siemens Energy Investigates Wind Unit With Twin Taskforces
- People Moves: Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions; BMS Re Hires 3 for Fac Team; QBE Canada Hires Liberty Mutual’s Mason as U/W Mgr, Property
- Canada’s Record Wildfire Season Set to Worsen as Heat Builds
- World Sees Hottest June on Record as North Atlantic Temperatures Rise
- Ukraine Finance Chief Sees Urgent Need for War-Risk Insurance
- Siemens Energy’s Turbine Troubles Rattle Wind Sector
- Generali Buys U.S. Asset Manager Conning Under Deal With Cathay Life
- Update: China Ends Ant Group’s Regulatory Revamp With Fine of $984M
- As Ukraine Grain Deadline Approaches, Pact Is Already Nearly Broken
- Appetite for Cat Exposures Returns; Reinsurers Stay Disciplined in Mid-Year Renewals
- Specialty MGA UK Approved as Lloyd’s Coverholder
- Spanish Authorities Seek Damages From Swedish Mining Firm for Toxic Spill in 1998
- Gallagher’s Pen Underwriting Acquires Norwegian MGA Fender Marine AS
- Panama Expects to Be Removed From Financial Crime Watch List in October
- UK Cybersecurity Officials Investigate Data Breach Affecting London Hospitals
- UN Climate Alliance Scraps Emissions Rules for Insurers After Exodus
- Association of British Insurers Pushes Members to Act on Biodiversity Loss
- People Moves: Hearn to Step Down as Inver Re’s CEO; TMK Taps Munich Re’s Partridge as Cargo U/W in London; Chubb Names Mostert South Africa Country President
- Ransomware Attack Hits Japan’s Biggest Port, Disrupting Cargo Shipments
- Earth Keeps Breaking Temperature Records, Underscoring Dangers of Global Warming
- BMS Group Acquires Australia’s Bluebook Insurance Brokers
- Insurers Look to Loosen UN Climate Alliance Rules After Member Exodus: Sources
- Economic Cost of French Riots Could Top €1 Billion as Unrest Continues to Drop
- French Insurers Say Cost of Riots Totals $305 Million, So Far
- Why Did It Take a Pandemic to Drive Electronic Placement in the London Market?
- Guy Carpenter Completes Acquisition of Re Solutions in Israel
- SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre
- Russia’s Aging, Dark Fleet of Oil Tankers Gets Infusion of Newer Ships
- Fusion Specialty Europe Launches Branch in Madrid, Led by DUAL’s Cibin
- Wind Turbines That Shake and Break Cost Their Maker Billions
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