International & Reinsurance News for August 2023
- Slovenia Estimates €7 Billion Price Tag for Reconstruction After Floods
- Australia Settles Lawsuit Over Climate-Related Systemic Risks to Sovereign Bonds
- Investors Call on Proxy Adviser ISS to Overhaul its Net-Zero Proxy Advice
- NFL-Style Lawsuit and Brain-Injury Concerns Hang Over Rugby World Cup
- India’s Reliance Hunts for CEO of Jio Financial Services’ Newly Created Insurance Biz
- Coal Producers Forced to Self-Insure as They Are Cut Adrift by Insurers
- What Caused Closure of Toyota’s 14 Assembly Plants in Japan?
- Super Typhoon Saola Lashes Taiwan Before Heading to Hong Kong
- People Moves: Starr Names Chen CEO of Starr Singapore; Arch Re Announces 4 Executive Promotions; Fidelis MGU Boosts Underwriting Team With 6 Promotions
- Dutch Insurer NN Says Extreme Weather May Make Further Premium Hikes Unavoidable
- UK’s Direct Line Group Names Aviva’s Winslow as Group Chief Executive Officer
- Car Premiums to Rise Again as British Insurers Feel the Heat
- Lufthansa Weighs Sale of Aviation Insurance Broker, Insurer: Sources
- Reinsurers’ Cyber Rates Expected to Rise as They Seek to Regain Profitability: S&P
- Howden’s Aston Lark Acquires UK Broker Curtis Marine
- Removing Fukushima’s Melted Nuclear Fuel Will Be Harder Than Wastewater Release
- El Niño Likely to Develop Between Sept and Nov, Australian Weather Bureau Says
- Hundreds of P&O Cruise Passengers Flown Home After Tanker Crash
- Toyota’s Japan Production at Standstill as System Failure Hits All 14 Assembly Plants
- TEPCO Says Seawater Radioactivity Below Detectable Limits After Fukushima Release
- People Moves: Sompo Int’l Taps Zurich’s Weiss as Head of Property & Energy, Continental Europe; Inigo Hires Aviation Specialist Harker From Marsh
- Libor Zombies Pit Hedge Funds Against Banks, Insurers in High-Stakes Feud
- More Than 600 Firefighters, Water-Dropping Planes Struggle to Control Greece Wildfires
- Ukraine Says Second Ship to Sail From Odesa Reaches Romania
- P&O Cruise Ship Crashes Into Oil Tanker, Injuring Passengers
- Nova Scotia Floods Cost Insurers More Than C$170 Million
- Swiss Re Ordered to Pay Former Underwriter $1.6M for Sexism, Unfair Dismissal
- Contingency Broker 1783 Group Joins Global Network, Brokerslink
- UK Issues Record Number of Work Visas to Fill Staff Shortages
- China’s Regulator Meets With Foreign Investors to Alleviate Concerns: Sources
- Why Is Japan Releasing Treated Radioactive Water and Is it Safe?
- Two British Teens and Their Audacious Hack of Nvidia, Grand Theft Auto and Uber
- Another Metals Trading House Says It Has Been Hit by a Nickel Fraud
- China Allows Allianz to Launch Onshore Fund Management Company
- People Moves: Dyer Appointed Chief Risk Officer for Aspen UK; Sompo Int’l Taps Walker From Allianz for Distribution Insurance, APAC; BMS Names Hewitt as Head of Japan
- Big Tech Braces for Roll-Out of EU’s Digital Services Act
- Japan Begins Releasing Nuclear Wastewater in Process That Could Last 30 Years
- Athens Wildfires Burn Part of Forest in Mount Parnitha After Destroying Homes
- AstraZeneca Faces 2 London Lawsuits Over COVID-19 Vaccines
- Lapsus$ Hacker Targeted Uber, Revolut, Grand Theft Auto Maker, London Jury Finds
- AXA’s Asset Management Unit to Cut as Many as 90 Roles in Revamp
- China Fines US Firm Mintz $1.5M for ‘Unapproved’ Work, After Raiding its Beijing Office
- Cryptoassets Increase Financial Risks in Developing Economies, Study Says
- Munich Re Again Tops List of 50 Largest Reinsurers With Swiss Re at No. 2: AM Best
- Climate Change Doubled Odds of Eastern Canada’s Extreme Wildfire Weather: Research
- More Than One-Third of Desks Globally Sit Empty All Week Long: Report
- Insurers Raise Premiums for Black Sea Oil Tankers as Tensions Mount: Traders
- Insured Losses From Natural Catastrophes Set to Top $100 Billion for 3rd Year in a Row
- Japan to Release Water Into Sea From Fukushima Nuclear Power Plant on Aug. 24
- People Moves: AXA XL Names Hopkinson Canada Country Mgr; BHSI Promotes Leandri for Risk Control; Coalition Taps MS Amlin’s Wynne Davies as UK Special Projects Lead
- Russia’s Flagship Oil Rises Above G-7 Sanctions Cap, but Does Little to Impede Services
- Conditions Are Challenging, Claims Are Elevated, but Reinsurers’ Profits Return: Reports
- Buesnel to Step Down as CEO of Tysers as 1st Phase of AUB Ownership Is Completed
- Ukraine in Talks With Insurers to Start Program to Cover Ships Hauling Grain Exports
- 3 Tropical Storms Churn Across Atlantic as Most Active Part of Hurricane Season Begins
- People Moves: Allianz Commercial Promotes Warren-Upham to Lead London Mkt Distribution; Chubb Appoints Kopp to Lead Far East Region, Mo for Korea
- Howden’s Aston Lark Ireland Agrees to Acquire Finance Solutions
- How Satellites Are Helping Farmers Adapt to Climate Crisis
- Firefighters Curb Blazes Threatening 2 Canada Cities With More Hot Weather Expected
- Ukraine Weighs Using New Black Sea Export Corridor for Grain Shipments
- US Insurance Giant Marsh Set for $448 Million Honan Deal
- Private Equity Firm Hg Weighs Options for €1.5 Billion Insurance Broker GGW
- Allianz Aims to Raise $1.6 Billion for Global Private Credit Fund
- S&P Revises Outlooks for Munich Re, Swiss Re While Affirming AA- Ratings
- India Braces for More Rain After Floods, Lightning Kill 2,000
- Raging Wildfires Prompt Evacuation of Northern Canadian City, Yellowknife
- How Climate Change Drives Heatwaves and Wildfires in Europe
- China’s Hidden Financial Dangers Erupt With Shadow Bank Crisis
- People Moves: Gallagher Re Taps Howden’s Posada for LatAm, Caribbean Sales; Dale Hires Pettifer for Property Open Mkt; AXA XL Names Hayzelden for Upstream Energy
- Markets/Coverages: Skyrisks, Quotech Link Up to Insure Advanced Air Mobility Sector
- Specialist Risk Group Acquires UK’s Cheshire Insurance Brokers
- Cargo Thieves Target Electronics, Chemicals, Pharmaceuticals: German Insurance Study
- Financial Services Firms ‘Largely Blind’ to Exposures From Nature-Related Risks: Report
- Swiss Tunnel to Partially Reopen for Freight Transport as Supply Chain Backs Up
- Latin Americans Fall Prey to More Online Scams, Cyber Attacks
- Legal & General’s CEO Says UK Must Speed Up Reforms to Lure Investors
- People Moves: MGA Arrow Risk Launches FinPro Practice, Hiring Wood and Cubitt From IGI; Sompo Int’l Names Röskau as CEO of SI Insurance (Europe)
- Demex Raises $5M to Bolster Its Stop-Loss Reinsurance Solutions for Secondary Perils
- German Cabinet Passes Landmark Bill Over Legal Cannabis Use
- Legacy Acquistion Specialist Monument Re Explores Strategic Options: Sources
- UK Insurer Aviva Eyes Lloyd’s of London Entry, Posts Above-Forecast H1 Profit
- Broken Wheel Causes Derailment of Train Blocking Swiss Tunnel
- Markets/Coverages: Chubb Launches Vehicle Tracking System in UK to Stymie Car Theft
- 2023 Summer Heatwaves – Insights on Heat Stress in a Changing Climate: RMS
- What Are China’s ‘Sponge Cities’ and Why Aren’t They Stopping Urban Floods?
- El Niño Expected Between September and November: Australian Weather Bureau
- Typhoon Lan Grounds Flights, Halts Trains as It Crosses Japan
- Ships Remain Backed Up in Black Sea Lanes as Russia Warning Shots Raise Tensions
- Fintech Vesttoo Seeks Chapter 11 Bankruptcy Protection
- Arthur J. Gallagher & Co. Acquires Canadian Consultant Horn
- Japan Faces Another Typhoon With Trains, Hundreds of Flights Canceled
- Shippers Warned to Stay Away From Iranian Waters as US-Iran Tensions Run High
- Australia’s Climate Risks Are Making Home Insurance Unaffordable
- Ukraine Starts Registering Ships for Black Sea Corridor: Agency
- Russian Warship Fires Warning Shots at Cargo Ship in Black Sea
- People Moves: WTW Hires Bryce From Magnes for Personal Lines, Canada; Markel Taps PwC’s Feng as Warranty & Indemnity U/W; RSA Names Godfrey as Transformation Dir.
- Antarctica Risks ‘Cascades of Extreme Events’ as Earth Warms: Study
- Growing ‘Greenlash’ Fuels Fears for Europe’s Environmental Ambitions
- Update: Train Derails in Swiss Gotthard Tunnel, Halting Key Freight Route
- Ukraine Announces ‘Humanitarian Corridor’ for Ships Stuck in Black Sea Ports
- Global Insurance M&A Drops Sharply in First Half 2023
- Hedge Fund Manager Loeb Agrees to Hold Off Attempts to Take SiriusPoint Private
- Allianz Q2 Profit Jumps 7.1% on Higher Results from US Life & Health Insurance
- Zurich Insurance CEO Criticizes Climate Alliances After Exodus
- Lloyd’s Leads Insurers in Raising Rates, Cutting Taiwan Cover as Conflict Risks Rise
- Norwegian River Dam Partly Collapses After Floods
- Fake Job Offer Opened Door to Suspected North Korean Crypto Hack
- Markets/Coverages: Howden Offers Blended Policy for PI, Crime and Cyber Liability
- Catastrophe Bond Funds Ranked Among 2023’s Top-Performing Credit Funds
- People Moves: Xceedance Names Tiwari President, EMEA/APAC; Chubb Climate+ Appoints Prunier for Int’l Operations; Howden Taps Aon’s Green for Property
- Greensill Sues Zurich Insurance for $400 Million to Recoup Losses
- Severe Convective Storms Top Insured Natural Disaster Losses in H1: Swiss Re
- Meta Platforms Seeks to Stop Privacy Breach Fine in Norway
- Black Sea Exporters Struggle to Clear Danube Shipping Backlog
- Severn Trent Faces First UK Class Action Suit Over Sewage Pollution
- UK’s Voter Register Was Hacked. No One Noticed for 15 Months.
- Russia Turns to ‘Shadow Fleet’ to Move Grain, as Its Shipping Challenges Grow
- Bermuda Weighs Corporate Tax as Part of Global Minimum Tax Drive
- People Moves: BHSI Names AIG’s Bidmead for Transactional Liability; TransRe Announces Group of Promotions; CNA Hardy Appoints Sr. Underwriters for UK Marine
- Insured Loss Estimate for Turkey Earthquake Rises to US$3.4 Billion: PERILS
- More ESG Lawsuits on the Horizon as Investors Jump on UK Law
- Vale Loses Bid to Block BHP’s London Lawsuit in Brazil Dam Case
- Japan Cannot Confirm Security Leak After Report Says China Hacked Defense Networks
- Japan Competition Watchdog Probes Insurers Over Price Fixing
- Ukraine’s Drone Attack Hasn’t Yet Jolted Insurance Costs for Black Sea Oil Carriers
- Britain to Create New Regime to Deal With Big Insurance Company Failures
- Howden’s DUAL Acquires Equestrian Specialist MGA David Ashby Underwriting
- SiriusPoint Announces Partnership with P/C MGA Eaton Gate
- Australia Cracks Down on Promoters of Dodgy Tax Schemes After PwC Leak Scandal
- Sweden’s Ericsson Sued by 37 Shareholders for $170M: Media Report
- Slovenia Suffers Its Worst-Ever Floods; Damage Could Top €500M, Prime Minister Says
- Japan to Release Fukushima Water as Soon as August: Reports
- Ukraine Black Sea Attacks Signal Expanding War; Russia Insurance Costs Likely to Rise
- Slovenia Hit by Worst Floods in More Than a Decade, Killing Several People
- Romania Expects to Clear Danube Logjam After Ukraine Attack; Insurers Remain Wary
- Broker Verlingue Expands UK Footprint With Acquisition of Brunsdon Employee Benefits
- Swiss Re H1 Net Income Surges to $1.4B on Lower Natural Catastrophe Losses
- UK Seeks to Boost Defenses for Potential Infrastructure Attacks
- Ukraine Weighs Insuring Ships Going via ‘Grain Corridor’: Interfax-Ukraine
- AXA Agrees to Purchase Laya Healthcare From AIG for €650 Million
- Russia Strikes Ukraine’s Danube Port. Kyiv Says Aim Is to Intimidate Insurers, Shippers.
- Beijing Hit With Heaviest Rainfall in at Least 140 Years
- Cyberattack on Norway Ministries Lasted at Least Four Months
- France’s AFP Sues Musk’s X Social Media, Citing Refusal to Discuss Payment for News
- Ratings Firms Struggle With Climate Risk in $133 Trillion Market
- Europeans Lack Insurance Protection as Wildfires and Drought Batter the Region
- People Moves: Miller Taps Marsh’s Holloway as Head of Europe; HSB Canada Names Walker Chief Distribution Officer; HDI’s UK & Ireland Branch Announces Key Hires
- Europe’s Most Important Trade Route Is at Risk From Climate Change
- Japan Casualty Insurers’ Shares Sink on Concerns Over Suspected Price Fixing
- 2 Investors Take Minority Stake in Mosaic Insurance, Providing Capital for Growth
- Re/insurance Broker Consilium Granted License in Cayman Islands
- Point of No Return? Australians Fight for the Right to Work Permanently From Home
- Fintech Vesttoo to Slash Jobs After Fake Collateral Scandal
- Hard Market Game Refuses to End: Arch Capital CEO
- Swedish Mining Firm Exempted From Paying Compensation for Toxic Spill in Spain in ’98
- People Moves: Marsh Promotes Duca to Global Head of Credit Specialties; Howden Names Agarwal CEO, Howden India, as Vashista Becomes Chairman
- MGA Pen Underwriting Creates Standalone Financial Lines & Specialist Liability Division
- Rain Pelts Beijing, Northern China, Causing Floods and Claiming at Least 11 Lives
- Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards
- Aircraft Lessors Aim for June 2024 Trial Over Contested Russia Insurance Claims
- Diverging Cyber Cat Model Results Challenge Underwriters’ Risk Analysis: Guy Carpenter
International & Reinsurance News Archives
