International & Reinsurance News for February 2024
- People Moves: Fusion Specialty Appoints Harwood for APAC M&A Team; Specialty MGA Nirvana Hires García-Beltrán to Grow European Cyber SME Portfolio
- AXIS Capital Names Becker as Chair-Elect of Board of Directors, Succeeding Smith
- Companies in Ukraine See Problems Pile Up; Insurance Issues Make Matters Worse
- Howden Acquires Ireland’s Intersure Group
- Google Hit With $2.3B Lawsuit by 32 European Media Groups
- Companies Walk ESG Tightrope, Under Fire From All Sides Over Disclosures
- EU Lawmakers ‘Outraged’ After States Block Landmark ESG Law
- US, Philippines Pay Highest Economic Price for Climate-Fueled Weather
- People Moves: AXIS Names Lord as Global CIO, Barriero as Head of Strategic Sourcing, Corporate Real Estate; Xenia Taps Stennett From Allianz Trade as CEO
- Direct Line Rejects ‘Unattractive’ £3.1 Billion Bid From Ageas
- Houthis Say They Could Reassess Red Sea Attacks if Israeli ‘Aggression’ Stops
- Banks, Insurers Targeted as Climate Group Seeks EU Review of Deforestation Rule
- Southern Water Fined for Sewage Spill That Killed 2,000 Fish in England
- UK Has More ‘Fragile Firms’ Than EU Peers: Allianz Report
- Markets/Coverages: Legal & Contingency Launches EV Charging Site Insurance for England and Wales
- People Moves: Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO; Marsh Names Fort From McGill and Partners as Int’l Cyber Product Leader
- EU Lawmakers Approve Tougher Penalties for Environmental Crimes
- Clyde & Co: M&A Activity to ‘Start to Increase Through 2024’
- Europe Automakers Will Not Challenge 2035 Fossil-Fuel Car Ban, Industry Group Says
- Damaged Subsea Cable in Red Sea Highlights Telecom Vulnerability
- Tesla to Fix Software in 8,700 vehicles in China Product Recall, Regulator Says
- Lockbit Cybercrime Gang Says It Is Back Online Following Global Police Bust
- Bank of England Builds ‘Proactive Case’ to Regulate Non-Bank Sector
- Germany Passes Law Legalizing Personal Use of Cannabis
- People Moves: QBE Promotes Shallow to Executive Director for International Markets; DUAL UK Taps Allianz’s Dixon as CUO, AXA’s Corner as Chief Distribution Officer
- Trinidad and Tobago’s Government Confirms Fuel Oil Is Leaking off Tobago’s Coast
- Risk Models Behind Insurance-Linked Securities Are Getting a Lot Harder to Crack
- Houthi Attack on Ship Led to ‘Environmental Disaster,’ US Says
- Fidelis Insurance Holdings Sponsors New ‘Herbie Re’ Catastrophe Bond
- People Moves: Everest Promotes 2 Senior Leaders in Reinsurance Division; CFC Hires 2 for New Specialist Team Focused on M&A Tax Risks
- Specialist Fire Research Consultancy Halliwell Launches London Office
- Houthis to Step Up Red Sea Strikes, Use ‘Submarine Weapons’, Leader Says
- A Decade After MH370, Planes Still at Risk of Vanishing Off the Map
- Allianz Grows Wealth Bet With Stake in $68 Billion Money Manager AlTi
- Allianz Shares Drop on Weak Results in P/C Insurance
- People Moves: Aon Promotes Goosen as Head of Professional Services, London Global Broking Centre; Mason Named Chief Exec of London’s Electronic Trading Platform PPL
- Australian Iron Ore Port Starts Clearing Ships Ahead of Cyclone
- Zurich Insurance Reports Record Profit, Announces $1.25B Share Buyback
- AXA’s 2023 Earnings Miss Forecasts on Higher Costs, Lifts Dividend 16%
- China Cargo Ship Smashes Through Bridge Sending Vehicles Into River: Reports
- Slumping EV Prices Force Carmakers to Repay Leasing Firms
- People Moves: Markel Names Costello as Head of Hull and War; IQUW Strengthens Property Team With 3 Senior Appointments
- Aon-NFP Deal Clears Antitrust Hurdle
- Beazley Creates Cyber Risk Management Company
- P&I Clubs Raise Renewal Prices to Keep Up With Claims Inflation: AM Best
- Lockbit Hackers’ Swagger on Display After Police Leak Identities Online
- What Is Cybercriminal Group Lockbit?
- Greek Ship Attacked in Red Sea by Houthis Arrives in Port of Aden With Cargo
- Turkey Plans Fine for SSR’s Local Unit Over Mine Spill
- Germany to Approve Cannabis Bill This Week in Legalization Drive
- Flying Got Safer Last Year Almost Everywhere Except Russia
- Seafarers Can Refuse to Sail Through Red Sea as Houthis Step Up Attacks: Industry
- Italy’s Fondazione CRT Lifts Stake in Generali to 2%, Its Chairman Says
- FBI, UK Crime Agency Say They Have Disrupted LockBit Cyber Gang
- MCI Syndicate-in-a-Box Gets Lloyd’s Nod to Provide Clinical Trial Funding Insurance
- Ares Leads $3.3 Billion Private Loan for UK Insurance Broker Ardonagh at Low Rate
- Cyber Risk Management Specialist KYND Secures New Funding for Global Growth Plans
- Canada’s Co-operators Enters Home-Services Business With Carson Dunlop Purchase
- South Africa’s President Will Sign Health Insurance Bill Into Law
- Russia’s Aeroflot Finalizes Insurance Settlement for 7 More Planes
- Shaw Appointed CEO of Tokio Marine Kiln, Succeeding Irick
- People Moves: Tokio Marine HCC Taps SCOR’s Hannay to Lead New Power Proposition; Miller Hires Kennedy From Shell International for Energy Team
- Powerful Winds Cause Destruction, Spark Wildfires in Australia’s State of Victoria
- Hamas-Linked Hackers Targeted Israeli Engineers Ahead of Oct. 7 Massacre: Research
- Facebook Faces $3.7B UK Mass Action Over Market Dominance
- Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
- Howden to Acquire Captive Manager ARM Group Holdings
- Banks, Insurers Ordered to Report Sexism and Bullying Cases in Britain
- FWD Mulls Options for $10 Billion Insurer After IPO Delay, Sources Say
- People Moves: Ardonagh Specialty Taps Gallagher Re’s Rance as Head of Specialty at Inver Re London; SiriusPoint Bolsters Energy and Marine Offering With 2 Key Hires
- Sompo International Authorized to Write Primary Insurance in France
- Markets/Coverages: Marsh’s D&O Facility Provides Up to $75M of Capacity
- Former VW Chief Tells Court He Didn’t Deceive Investors Over Dieselgate
- Cyberattack Hits German Battery Maker Varta, Halts Production
- Brexit Red Tape Puts Valentine’s Day Thorn in UK Flower Trade
- EU Lawmakers Ratify Provisional Deal on Artificial Intelligence Rules
- Markets/Coverages: Loadsure Launches Motor Truck Cargo Insurance
- PoloWorks Launches Captive Manager Polo Insurance Managers
- Arthur J. Gallagher & Co. Acquires London-Based Simply-Communicate Ltd.
- Canadian Insurer Fairfax Denies Allegations of Asset Value Manipulation
- SiriusPoint Enters Strategic Partnership With MGU Ryan Specialty Nordics
- Update: Tankers Tied to the Russian Oil Trade Grind to Halt Following US Sanctions
- Iceland Plans to Buy Out Homeowners in Volcano-Struck Town
- HP Claims $4 Billion Losses in London Lawsuit Over Autonomy Deal
- TikTok Faces Fine as EU Prepares Probe Over Risks to Minors
- Markets/Coverages: WTW Launches Primary Cyber, Tech E&O Facility for Int’l Clients
- Migratory Animals in Peril From Overhunting, Habitat Loss: UN Report
- Rio Tinto Faces Pressure From Investors Over Water Contamination Claims
- People Moves: Mitsui Sumitomo EU Appoints Rodden as Interim CEO, Rebrands as MSIG UK; Gallagher Re Promotes Dowlen to Managing Director EMEA
- Some Insurers Suspend Sales of Car Policies After UK Watchdog Again Intervenes
- Another Banner Year Seen by 5 Publicly Traded Insurance Brokers in 2023
- Fosun Said to Revive Sale of Hong Kong’s $1 Billion Peak Re
- Brazil Subsidized Rural Insurance for Deforested Farms: Report
- Britain’s Financial Regulators Need ‘Ambitious Mindset’, Carnegie-Brown Says
- Howden Has $1.4 Billion for Growth, Could Tap New Investor for Extra Firepower
- Muddy Waters Shorts Canada Insurer Fairfax Financial, Alleging Asset Value Manipulation
- January Was World’s Hottest on Record: EU Scientists
- AXA’s CEO Buberl Wants to ‘Scale Up’ Corporate Business
- Money Managers Try to Put a Price on Climate Risk. It’s Not Easy.
- US, UK Ship Investors Hit by Soaring Red Sea Insurance: Sources
- Company Auditors Face More Rigorous Role in Spotting Fraud: Global Body
- German Court Rules Against Intel in Patent Row Over Chips
- Ransomware Hackers Stole More Than $1 Billion in 2023
- Swiss Re, Others, Drop Call for Moscow Aviation Dispute Hearing
- Chinese Ships Get Cheaper Insurance to Navigate Red Sea
- Sweden Scraps Probe Into Nord Stream Gas Pipeline Blasts
- EU Agreement on ESG Ratings Seen as World’s Toughest
- EU Agrees to Path to Compete in Clean Tech Production
- Germany Hit by Strikes as Workers Demand Better Pay and Conditions
- EU Recommends Ambitious 2040 Climate Target, Goes Light on Farming
- EU Cautions Against Trade Measures to Support Solar Sector
- Lex Greensill’s Fraud Means Zurich Can’t Payout $400 Million, Insurer Argues
- Europe Gains Powers to Tackle Supply Chain Emergencies
- People Moves: Howden Appoints Shalders as Group COO; Neighbour Named BMS Energy Director
- Swedish Prosecutor Plans Nord Stream Blast Decision This Week
- Marsh: ‘Stable’ Q4 Commercial Rate Increase of 2%
- Chile’s Second-Largest Refinery Shuttered Due to Power Outage Following Wildfires
- Hedge Funds’ Mega Returns Set Off Demand Spiral for Catastrophe Bonds
- EU Agrees New Push to Repair, Not Replace, Defective Consumer Goods
- Europe’s Toughest ESG Rule Hits Wall of German Objections
- Tobacco Giants’ Patent Settlement Clears Path for Smokeless Products
- Norway’s Most Powerful Storm in Over 30 Years Rips Roofs Off Houses, Cuts Power
- French Farmers Head Home but Anger Spreads Elsewhere in Europe
- France Now Backing EU AI Rules Ahead of Bloc Endorsement
- Jensten Acquires UK Community Broker Melville Burbage
- Markets/Coverages: Descartes Launches 1st Parametric Cyber Shutdown Cover in France
- Farmer Protests Disrupt Belgian Supermarkets’ Supply Chain
- People Moves: Probitas Names Botnick to Launch Canada Service Company; Liberty Promotes Boyle to Head of Energy, London; Hart Joins CFC as Head of Proactive Cyber
- Top European Leaders Test Positive for Cancerous ‘Forever Chemicals’
- Spenner Named Gallagher Re’s CEO, International, as Melia Retires
- What Would UK Labour Party’s Finance Sector Plan Mean for City of London?
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