International & Reinsurance News for December 2023
- Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
- Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV
- Hapag-Lloyd, Japanese Shipping Firms Continue to Re-route From Suez Canal
- Storm Gerrit Batters Northern UK, Damaging Houses, Knocking Out Power
- China Sets Tougher Capital Rules for Registering New Firms
- JD.com Wins Anti-Monopoly Lawsuit Against Alibaba
- When Children Take Toxic Cough Syrup, and Live…
- Top International Insurance Journal Stories of 2023
- Brokerslink Adds Peruvian Broker to Global Network
- Colombia to Pay $215 Million in Liabilities to Health Insurers
- Bulk Carrier Hits Mine in Black Sea, 2 People Injured, Ukraine Says
- Tokyo Court Rules Only Fukushima Operator Must Pay Compensation, Cuts Damages
- Self-Driving Cars Could Be on UK Roads by 2026: Transport Minister
- Half of Red Sea Container-Ship Fleet Avoids Route on Threat of Attacks
- China Metals Giant Faces Protest in Indonesia After Fatal Blast
- Canada’s Fairfax Completes $860M Acquisition of Gulf Insurance Group from KIPCO
- Gas Tanker’s Detour of 8,000 Kilometers Highlights Shipping’s Current Chokepoints
- French Climate Damage Measures Came Late but Were Sufficient, Court Rules
- Severe Storms Lash Australia’s East Coast, Killing 9 People
- Japan Orders 4 Non-Life Insurers to End Anti-Competitive Business Practices
- Air Lease Gets Insurance Settlement for 4 Jets Stranded in Russia
- People Moves: Everest Promotes Browne to Global Head of Accident & Health; Miller Appoints Board From Conduit Re for Reinsurance Team
- Aon-NFP Merger a Win-Win for Middle Market Segment, Aon Says
- Global Regulators to Tackle Hidden Leverage Across ‘Shadow Banking’ Sector
- Ryan Specialty Signs Agreement to Buy Castel Underwriting Agencies From Arch
- UK Signs Swiss Financial Services Deal, Easing Post-Brexit Access for Insurers, Brokers
- People Moves: QBE Re Appoints Guarnori and Ahluwalia to Senior Roles; Fortin Promoted to President of Intact; Hamilton Names Riihiluoma as Head of Specialty Re
- Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
- Tesla Faces Inquiry by Norway’s Safety Regulator Over Suspension Failures
- China Earthquake Update: 137 People Killed, 12 Still Missing, 207,000 Homes Wrecked
- Shipping Costs Soar as War and Climate Risks Choke Key Waterways
- Yemen’s Houthis Vow More Attacks on Ships in Red Sea Despite US Naval Force
- Iceland’s Volcanic Eruption Is Dramatic. But It Won’t Cool the Planet.
- Apollo-Owned Aspen Insurance Files for IPO in US
- Howden Acquires Dutch Broker VLC & Partners
- Allianz Sponsors Catastrophe Bond for European Windstorm Risks
- UK to Sign Deal Boosting City of London’s Post-Brexit Ties to Switzerland
- Death Toll Climbs in China’s Worst Earthquake in Nearly a Decade
- Aon to Buy Middle-Market Broker NFP for $13.4 Billion
- Toyota’s Daihatsu Unit to Halt All Vehicle Shipments, in Widening Safety Scandal
- Artificial Intelligence Can’t Be Named as Inventor for Patents: UK Top Court
- Shipping Insurance for Red Sea Transit Soars After Mounting Houthi Attacks
- Banks, Insurers Temporarily Dodge Full Impact of EU’s Harshest ESG Law to Date
- Magnitude 6.2 Quake Kills More Than 100 in China’s Northwest
- Climate Activists, Greenpeace and Uplift, Sue UK Over Rosebank Oil Field
- Shadow-Fleet Oil Tanker Insurer Gets Shut Down by Marshall Islands
- Red Sea Merchant Shipping Starts to Grind to a Halt as Houthis Step Up Attacks
- Lloyd’s Adds Guyana to Risky Shipping List Amid Escalating Dispute With Venezuela
- CVC Completes Deal to Take Majority Investment in Dale Underwriting Partners
- Initial Insured Losses for Windstorm Ciarán (aka Emir) Estimated at €1.9B: PERILS
- Britain’s National Grid Drops China-Based Supplier Over Cyber Security Fears: FT
- Update: London Marine Insurers Widen High Risk Zone in Red Sea as Attacks Surge
- Shipping Firms Avoid Red Sea as Attacks From Iran-Backed Houthi Militants Rise
- Australian Tourist Hotspot Inundated With Life-Threatening Floods After Cyclone Jaspar
- Lloyd’s Extends Lease on Iconic London Headquarters Until 2035
- S&P Upgrades Lloyd’s Financial Strength Rating to AA-
- Here’s What’s Next for the EU’s Landmark Artificial Intelligence Act
- UK at High Risk of ‘Catastrophic’ Cyberattack Affecting Critical Infrastructure: Report
- Some UK Financial Services Firms Keep Flexible Working to Boost Women in Workforce
- Maersk Tankers’ Fleet of Fuel Carriers Could Opt to Avoid Red Sea as Attacks Escalate
- Parent of Key SiriusPoint Shareholder Goes Into Receivership; Ratings Impact Neutral
- Markel International Launches Specialty Division, Led by 2 Hires From Brit
- Howden Acquires Denmark’s NORTH Risk
- Range Rovers Become Thief-Magnets, Causing Insurance Premiums to Skyrocket
- AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s
- Armed Guards on Tanker Exchange Fire With Boat Near Yemen
- Harassment of Women in Financial Services Eclipses Other Industries: Aviva CEO Blanc
- People Moves: Marsh Announces Group of Promotions in UK, Global Placement Team; Klingspor Succeeds Papanikolaou as CEO, Allianz Central Europe
- Ryan Specialty Forms International Financial Lines MGU Ryan Financial Lines
- Crypto, Insurance-Linked and Trend Hedge Funds Most Popular With Investors: Report
- Jensten Purchases UK’s Scrutton Bland Insurance Brokers
- Red Sea Shipping Costs Rise After Houthis Target More Commercial Vessels
- Nations Strike Deal at COP28 to Transition Away From Fossil Fuels
- Infrastructure Faces $600B Hit in Worst-Case Climate Shift: Study
- People Moves: DUAL Europe Taps Hiscox’s Hervé to Launch and Lead French Unit; Chubb’s Overseas General Insurance Names Spagnoli as Head of Consumer Lines
- UK to Probe Unilever’s Environmental Claims as Part of Greenwashing Crackdown
- Ukraine’s Top Mobile Network Operator Hit by Biggest Cyber Attack of War to Date
- Markets/Coverages: MGA Optio and Insurer Partner AmFirst to Offer Political Violence & Terrorism Cover
- Houthi Militants Hit Fuel Tanker With Missile in Vital Red Sea Trade Artery
- Tech Update: Hiscox London Mkt, Google Collaborate to Boost Underwriting With AI
- Typhoon That Hit China’s Ports Provides Wakeup Call for Climate Risk to Markets
- People Moves: Papanikolaou to Succeed Mueller as AGCS CEO and Will Lead Allianz Commercial; May Promoted to CEO of Lloyd’s Europe as Breitburd Steps Down
- China Offers Insurance to Rubber Producers to Encourage Higher Output
- Africa Specialty Risks Gets ‘In Principle’ Approval to Launch Syndicate in 2024
- Korea Sees Risks to Financial Services Firms From Overseas Property Bets
- European Union Agrees Landmark Deal Governing Use of Artificial Intelligence
- GIC Reaches Agreement to Buy Cinven’s Shares in UK Broker Miller
- Tropical Cyclone Jasper Barrels Towards Australian Tourism Hotspot
- Crypto Exchange HTX Hit by $258M Outflow After Major Hack
- Markets/Coverages: Howden Launches European Cyber & Tech E&O Facility
- Specialist Risk Group Acquires Lloyd’s Broker CBC Partnership
- Shadow-Fleet Oil Tanker Runs Aground Near Singapore
- Climate Change, El Niño Bring T-Shirt Weather in December for Northern Hemisphere
- Vale-BHP Talks With Brazil on Mine Disaster Compensation Delayed
- Britain’s Financial Conduct Authority Must Act Faster: National Auditor Report
- US, UK Say Russia Targeted Officials in Political Cyber Campaign
- People Moves: Ardonagh Group Announces Senior Management and Structural Shakeup; QBE Promotes Purkis in Continental Europe Distribution Team
- Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re
- UK Data Protection Watchdog Warns Companies Over AI Use and Privacy
- Airline Industry to Meet to Discuss Safety Concerns Around Spike in GPS Spoofing
- AXA Weighs $1.1B Disposal of European Protection Insurance Businesses: Sources
- Maersk Introduces Risk Surcharge on Shipments to Israel to Cover Insurance Costs
- UK Insurance Broker Ardonagh Weighs Refinancing $3.9 Billion Debt Pile
- Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots
- Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
- Humanity on Verge of 5 Climate Tipping Points, Report Warns
- Here Are Details of Trafigura’s Suit Against Businessman Gupta in Alleged Nickel Fraud
- Trafigura Staff Tried to Hide Nickel ‘Red Flags,’ Gupta Says in Court Document
- Insurers Heavily Exposed to Impact of Climate Change: Global Watchdog
- Attacks on Red Sea Shipping Menace 12% of Global Trade as War Risk Premiums Rise
- People Moves: Aon Promotes Clarke as Head of Renewables, Global Broking Centre & UK; Markel Hires AIG’s Meek to Lead Cyber Portfolio in Middle East, North Africa
- Clear Group Buys General Insurance Book of PW White & Partners in UK
- US DOJ Slaps Criminal Fines on UK Brokers Tysers and H.W. Wood for Bribery
- German Companies Seeking to Cut Risk of Doing Business in China: Survey
- Howden Acquires Swiss Reinsurance Broker Haakon AG
- Societe Generale Issues €10M Digital Green Bond on a Public Blockchain
- Global Carbon Emissions From Fossil Fuels to Hit Record Peak in 2023: Report
- War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks
- Severe Cyclone May Bring Floods to Parts of Southeast India
- Australia Faces Increased Risk From Bushfires Ahead of El Niño Summer
- Global Regulators Propose Tougher Scrutiny of Voluntary Carbon Markets
- Spanish Media Association Files $598M Lawsuit Against Facebook Owner Meta
- Multiple Commercial Vessels Attacked in Red Sea
- Hillary Clinton Calls for Reform of Insurance Sector at COP28 Climate Talks
- Climate Finance Takes Center Stage at COP28 Climate Talks
- Insurance, Cat Bonds Can Help Boost Poorer Countries’ Resilience to Climate Risks
- Nigeria’s Worst Flood in Decade Caused Billions in Economic Damage
- People Moves: MS Amlin Promotes Forsyth to Head of Marine, Succeeding Humberstone; Generali GC&C Names Mediterranean, LatAm Managers as Part of Business Reorg
- Brexit Backer and Inventor James Dyson Loses Libel Lawsuit Against UK Newspaper
- UN Report Warns of ‘Silent’ Threat of Drought as Planet Warms
- How Panama Fishing Boats Brought Mining Company First Quantum to its Knees
- Maersk Reaches Settlement Over Ship That Blocked Suez Canal
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