International & Reinsurance News for November 2023
- World to Hit 2.5F of Warming During 2023 as Hottest Year on Record
- Markets/Coverages: MGA Rokstone Launches Contingency Portfolio
- Shadow Banks, Such as Insurers, Hedge Funds, Could Be Sitting on Elevated Risk: ECB
- London Metal Exchange Triumphs in Lawsuit Over Canceled Nickel Trades
- Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
- Red Sea Attacks on Ships Spark Safety Concerns for Sailors
- India’s GIFT-City Financial Hub Plans to Grow in Re/Insurance, Direct Listings
- People Moves: Markel Appoints Howden’s Woodhouse for War and Terrorism Team; Costero Brokers Taps Marsh’s Olley as Cyber Divisional Director
- CFC Executives Walsh and Newman to Step Down After Lloyd’s Misconduct Probe
- Markel’s State National to Enter UK Market, Offering Program Services for MGAs
- London’s Insurance, Finance Workers to See Biggest AI Impact: UK Report
- AXIS Capital Sponsors First Cyber-Catastrophe Bond Issued in Public Debt Markets
- P/C Insurers Face Challenging Claims Dynamics as Frequency, Severity Rise: Swiss Re
- Probitas Ready to Launch Lloyd’s Special Purpose Arrangement for 2024 Year of Account
- Product Recall Specialist MGA BluNiche Launches UK Unit for SME Businesses
- Marsh & McLennan Finalizes Delisting From London Stock Exchange
- Allianz and Dutch Development Bank Back $1.1 Billion Sustainable Loans Fund
- US Warns of Growing Threats to Ships Sailing Through Red Sea
- Markets/Coverages: Apollo to Launch Specialty Treaty Class of Business
- Indonesian Court Papers Reveal Chain of Events That Led to Cough Syrup Deaths
- Tesla China Offers Insurance Subsidy on Some Models Bought Before Year-End
- People Moves: Liberty Mutual Re Names Swiss Re’s Chisolm as Senior Underwriting Exec; Everest Insurance Int’l Appoints 2 Senior Leaders in Asia
- Aviva to Acquire Canadian Vehicle Replacement MGA Optiom for Circa £100m
- Many Australians Abandon Insurance as Premiums Surge on Climate Costs: ICA Head
- Shell to Face UK Trial Over Devastating Nigerian Oil Spills
- Fewer Than 10% of CEOs in Britain’s Largest Companies Are Women
- EU Weighs Wider Scope for Cybersecurity Certification Scheme: Proposal
- Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
- Governments Increasingly Will Foot Bill for Climate Risks as Insurers Exit: Report
- Climate Activists, Companies Lawyer Up for Courtroom Battles
- Australia Revamps Cybersecurity Protections After Port Cyberattack
- France, US Plan to Seek Ban on Private Finance to Coal-Fired Plants at COP28: Sources
- Storms Delay Search for Crew Missing After Turkish Cargo Ship Sinks in Black Sea
- Reinsurers’ Earnings Rise on Lower Disaster Losses, Improved Investment Results: Fitch
- DP World Attack ‘Stark Reminder’ About Prioritizing Cyber Spend: Australia Watchdog
- Climate on Track to Warm by Nearly 5.2F Without Aggressive Actions: UN Report
- Labour Meets With Banks, Insurers to Discuss Ways to Boost Infrastructure Investment
- Markets/Coverages: McGill and Partners Launches Coverage for Corporate Insolvency as D&O Policy Extension
- River Rhine in South Germany Closed to Shipping Due to High Water Levels
- Capture of Israeli-Owned Ship Reignites Fears Over Mideast Shipping
- Grain Ship, Damaged off Coast of Ukraine, Likely Hit Sea Mine: Sources
- Injuries to European Footballers Rise to $767 Million During World Cup Year: Howden
- India Tunnel Collapse Shows Risk of Construction in Fragile Himalayas
- Australian Telco Optus’ CEO Quits After Massive Network Outage and Cyber Attack
- People Moves: Howden Taps Marsh’s Bayon de La Tour as International Head of Cyber; Argenta Promotes Davidson to Lead New Energy Transition Offering
- Fairfax Offers to Take Agritech Firm Farmers Edge Private at 99% Below IPO Price
- Markets/Coverages: Arch Insurance Int’l Launches Intangible Assets Team for IP Risks
- EU Proposes to Ban Sale of Tankers to Russia to Curb Growth of Shadow Fleet
- NBJ London Markets Rebranded as ‘Verlingue London Markets’, Senior Execs Hired
- Tankers, Newly Sanctioned by US, Supplied Russian Oil to India
- Generali Keeps 2024 Goal as Profits Rise 30% Despite Disaster Claims
- US Sanctions Maritime Companies, Vessels for Shipping Oil Above Russian Price Cap
- Brookfield Reinsurance Completes Buy of Argo Group; Snyder Named Argo CEO
- Zurich’s Farmers Group Seeks More Fee Income Via Acquisition of 3 Brokers for $760M
- Poor Countries Are Missing Out on Pre-Arranged Climate Disaster Finance: Study
- Markets/Coverages: Strategic Risk Solutions Launches ART Unit in Zurich
- Financial Services Firms Acknowledge ‘Awful’ Culture in UK Sexism Inquiry
- Hurricane Otis’ Insured Losses Estimated at $2.5B-$6B: Moody’s RMS, Verisk
- UK Will Fail to Meet Flood-Defense Goals for Homes as Climate Threat Grows
- People Moves: SiriusPoint Taps RSA’s Hardy as Director of Sales & Distribution, Int’l; Pro MGA Global Solutions Names Martin Døhlen as MD of European Platform
- Markets/Coverages: Chubb Launches New Media Insurance Product for UK
- Yemen’s Houthis Leader Says Group Will Target Israeli Ships in Red Sea
- Update: Ukraine Launches Grain Insurance Program With Marsh McLennan, Lloyd’s
- People Moves: Canopius Names Newman UK CEO; Gibson Named Sedgwick’s UK CEO
- Update – Economic Threats Top List of G20 Business Leaders’ Concerns: WEF Survey
- Clear Group Buys UK’s Peter Hoare & Co. (Insurance Brokers) Ltd.
- Arthur J. Gallagher & Co. Acquires Australia’s Edgar Insurance Brokers
- Markets/Coverages: WTW Launches Global D&O Excess Facility Called ‘A-Star’
- Port Operator DP World Chips Away at Freight Backlog After Crippling Cyber Attack
- Banks, Insurers May Escape EU’s Toughest ESG Regulation So Far
- Piercing Through Rain, Smoke and Fog: How Radar Satellites See Catastrophes
- Markets/Coverage: QBE Launches Marine Offering for European Customers
- EU Watchdog Cautions Against One-Size-Fits-All Rules for Non-Bank Financial Sector
- World’s Biggest Bank Had to Trade Via USB Stick After Cyber Attack
- Cyber Attack Against Australia Port Operator Causes Massive Container Backlog
- EU Court Sides With Car Service Firms in Data Fight With Sweden Truck Maker Scania
- Russia Flagship Carrier Aeroflot Says It Reached Settlement With Aircraft Leasing Firm
- Freight Costs for Ships in Ukraine’s Export Corridor Ease Back to Former Levels
- Bank of England to Deepen System-Wide Stress Test for Banks, Insurers
- Cyber ‘Catastrophe Bonds’ Move Step Closer to Hitting Public Debt Markets
- Russian Missile Strike on Merchant Ship Threatens Ukraine’s Exports
- Shell Sues Greenpeace for $2.1 Million After Activists Boarded Oil Production Vessel
- People Moves: Ardonagh Specialty Taps Gallagher Re’s Marsh as Deputy CEO of Bermuda, Inver Re’s Head of Retro; Aon Merges UK and EMEA, Naming Page as CEO
- Insured Losses from Winter Storm Ciarán Range From €800M to €1.3B: Verisk
- UN Chief Says It Will Be Difficult to Revive Black Sea Grain Deal
- Insurers Are Still Backing Oil and Gas Industry Despite Rising Climate Threat: Report
- Ping An Loses $3.1 Billion in Value on Country Garden Buy Report
- People Moves: AXA XL Names Gerbaud as CUO for APAC & Europe; Trium Cyber Names Aspen’s Signorelli as MD of Int’l Operations
- Update: James River to Exit Reinsurance, Agreeing to Sell JRG Re to Fleming for $277M
- Insurers Review Middle East Events Policies After War Leads to Cancellations
- China’s Ping An Sold Stake in Country Garden, Has No Plans to Buy the Troubled Firm
- Greenlight Re Names TransRe’s Richardson as CEO to Succeed Burton
- Lloyd’s to Invest $65M in Regions Affected by Transatlantic Slave Trade
- UK Weighs Criminal Liability for Self-Driving Car Companies
- People Moves: Howden Tiger Taps Zurich’s Bertagna to Lead MGA Reins. Unit in Europe; Miller Names Bisbas as Chair of Marine Mutual Reins., Head of Mutual War
- TikTok Must ‘Spare No Effort’ to Counter Spread of Disinformation
- Alibaba’s Ant Receives Chinese Government Nod to Roll Out AI Services
- WTW Launches Asia Pacific Climate Risk Centre in Singapore
- Siemens, Ericsson Warn Proposed EU Cybersecurity Rules May Disrupt Supply Chains
- Palo Alto Acquires Israeli Cyber Startup Talon in M&A Push
- Howden Acquires Peruvian Insurance Broker Contacto
- People Moves: Marsh Promotes Donnelly to Global Head of Placement; Markel Names AIG’s Conyard as Digital & Portfolio Exec in Distribution Team
- As Acapulco Rebuilds After Hurricane Otis, Other Mexico Resorts Urged to Heed Lessons
- Arthur J. Gallagher & Co. Acquires Ireland’s Keaney Insurance Brokers
- Markets/Coverages: Coalition Offers Active Cyber Insurance in Australia
- World’s Most Toxic Air Prompts Indian Executives to Criticize Government’s Handling
- HDI Global Opens Branch in Portugal
- People Moves: Aspen Taps SiriusPoint’s Mardon as Global Head of Property Catastrophe; CNA Hardy Appoints Marsh’s Berman as Head of Specialty
- Jensten Completes Acquisition of UK-Based One Broker Group
- New Swiss Capital Rules Set to Spur $20 Billion Bond Overhaul for Re/Insurers
- Howden Scotland Buys Commercial Insurance Broker Neilson Laurence & Neil
- Climate’s ‘Catch-22’: Cutting Pollution Will Accelerate Global Warming
- Israel’s Ship Industry Urges Government to Help With Soaring War Risk Premiums
- People Moves: FM Global Names Tadmoury to Lead EMEA, APAC, Canada Operations; Rosa Promoted to CEO of MAPFRE RE, Pérez de Lema Named CEO of New Insurance Unit
- Storm Ciarán Batters UK and Europe With Punishing Winds and Heavy Rainfall
- Australian Companies Face New Liability for Nature-Based Risks
- Mass London Lawsuit Against Apple Over iPhone Batteries Can Proceed, Tribunal Rules
- Hurricane Otis’ Impact on Mexico Insurance Industry Expected to Be ‘Controlled’: Fitch
- Zurich Insurance to Buy 51% in India’s Kotak General for $487 Million
- UK’s Ardonagh Acquires Commercial Broker for SMEs in Switzerland
- RenRe Completes $3.3 Billion Acquisition of Validus Re From AIG
- Global Insurance Prices Continue to Stabilize in Q3 as US Cyber Premiums Drop: Marsh
- Update: Bayer Investor Calls for Rethink After Latest Glyphosate Defeat
- China Eases Investment Rules for Insurers in Bid to Boost Flows Into Stocks
- Insurance Premiums Are Big Driver of Australian Inflation
- NFP Acquires Ireland-Based Health and Safety Consultancy, SeaChange Ltd.
- Tesla Cleared of Fault in Fatal Chinese Crash: Local Media Reports
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