International & Reinsurance News for May 2024
- Banks, Asset Managers Warned of ‘Huge’ Fallout From UK’s New Greenwashing Law
- People Moves: Howden Re Names Hearn as Chair, Global Clients Strategy; Ex-Lloyd’s CEO Beale Named Chair of Climate Consultancy South Pole
- Investors With Trillions Aren’t Handling Australia Climate Risks: Study
- Israel Aims to Boost Red Sea Oil Deliveries Despite Environmental Risks
- Cleaner Shipping Fuel Is Contributing to Ocean Warming: Report
- Miller to Acquire Spanish Specialty Re/Insurance Broker Bruzon
- Everest Launches Mexico Operations, Expanding Its Global Insurance Network
- Irish Court Case on Russia Jet Insurance Claims to Begin on June 11
- Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
- Robot to Remove Melted Nuclear Fuel From Japan’s Damaged Fukushima Reactor
- Climate Lawsuits Build as Latin American Court Hears Largest Case Ever
- China Weighs Record Fine for PwC Over Evergrande Audit Work
- EU Weighs Proposal to Sanction Russian Oil Tanker Insurer Ingosstrakh
- Samsung Faces Probe After Two Chip Workers Exposed to Radiation
- People Moves: Specialist Aviation MGA Itasca Names John as CEO, Succeeding Zolotusky; DUAL Group Appoints Allianz’s Sayce as Group Head of Emerging Products
- Specialist Risk Group to Launch Global Motorsport Underwriting Offering
- Markets/Coverages: Ariel Green Expands Tech Performance Ins. Consortium at Lloyd’s
- Update: Greek-Owned Ship Takes on Water After Being Hit by Missiles in Red Sea
- PwC Lost Five China Clients After Evergrande-Linked Probe
- Top Insurer to Leave Colombia’s Public Health System Amid Petro Squeeze
- Growing Shadow Fleet of Tankers, Shipping Sanctioned Oil, Are Burning Dirty Fuel
- People Moves: Blenheim Syndicate 5886 Taps Barber From Fortegra as Sr. Liability Treaty U/W; Pen’s Vessel Protect Names Lockton’s Kent as Biz Development U/W
- Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
- Cyclone Lashes India, Bangladesh, Killing at Least 16, Cutting Power to Millions
- Fewer Top Women Earners in British Financial Services Since Pandemic: Report
- Highlighting Exxon Suit, Investors Urge Firms to Keep Shareholder Spats Out of Court
- ABN Amro Is Latest Bank to Suffer Breach After Hack at Supplier
- Contamination Fears Stoked by Water Leak at German Nuclear Site
- People Moves: BHSI Promotes Riley to Lead Casualty Biz in Canada as DeSouza Retires; Broker Insights Names Scott CEO, Succeeding Edmond Who Becomes President
- Remote Work, Aging Tech Targeted by Canada Cybersecurity Plan
- Airbus Tests Electric Truck With Airliner Cockpit to Study Safer Taxiing
- Singapore’s Income Insurance Weighs Partnerships or Stake Sale for APAC Expansion
- Allianz Is Lead Insurer for Singapore Airlines Incident: Sources
- City of London Is Relaxed About the Prospect of a Labour Election Win
- UK’s Aviva Posts 16% Rise in Q1 General Insurance Premiums
- People Moves: Canopius Names Haste Group Chairman as Watson Steps Down
- Axis Insurance Managers Acquires Canadian Broker Magnes Group
- These Flight Routes Suffer the World’s Worst Turbulence
- Markets/Coverages: Lockton Caribbean & Central America Launches Food, Agriculture & Beverage Broking Practice
- Travel Insurance ‘Will Likely’ Cover Injuries Sustained in Singapore Airlines Incident: ABI
- Climate Court Cases That Could Set New Precedents Around the World
- NormanMax Launches 1st Nat Cat Parametric Lloyd’s Syndicate, Managed by Apollo
- ‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence Terror
- Compensation for Injured Passengers on Singapore Airlines Could Vary Dramatically
- Climate Change Made Recent UK and Ireland Storms Much Worse
- Viewpoint: How Liberty Specialty Markets Uses Tech for Claims Risk Management
- China Boosts Farmer Protection With Nationwide Insurance for Major Grains
- Oil Shipments at Risk From Rising Sea Levels, Think Tank Warns
- Canada Plans Harsher Laws, Equipment Bans to Fight Car Theft
- People Moves: CFC Canada Taps Marsh’s Della Mora as CEO, Opens 1st Canada Office
- Aon’s NFP Acquires UK-Based Consultant HELPGB
- Warburg, Temasek Buy Insurance Services Firm, Specialist Risk Group, in £1B Deal
- Markets/Coverages: Rokstone, Allianz Commercial Partner for $10M Marine Cargo Facility
- AI-Intensive Sectors Are Seeing Productivity Surge: PwC
- Japan’s Insurers Surge on Buybacks, Unwind of Cross-Holdings
- Howden Buys Microinsurance Specialist That Offers Cover for LatAm Underinsured
- English Fishing Village Told to Boil Water After Parasite Outbreak Sickens Over 45 People
- Zimbabwe to Get Over Half of $60 Million Payout for El Niño-Hit African Nations
- China-Bound Oil Tanker Hit by Houthi Missile in Red Sea, US Says
- Nearly All Sanctioned Russian Oil Tankers Remain Idle and Empty Months After Sanctions
- People Moves: AXA XL Promotes Riha as Chief Client & Distribution Officer, APAC/Europe
- Markets/Coverages: Aon Offers Carbon Capture, Storage Insurance for Energy Transition
- Ardonagh Group’s MDS Brazil to Acquire Brazilian Broker D’Or Consultoria
- Volkswagen Reaches $54 Million ‘Dieselgate’ Settlement With Italian Owners
- Wildfires Could Affect Over Half of Canada’s Oil Sands Output: Report
- Firefighters Gain Control of One Blaze Threatening Oil Sands in Alberta
- Swiss Re Names Gonzalez CEO of Corporate Solutions, Ojeisekhoba to Step Down
- Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Strong Q1 Net Income of $1.1B
- UK Tightens Scrutiny of All Indian Spice Imports Amid Contamination Allegations
- ECB Warns of Financial Stability Risks From Global Elections, Geopolitics
- Zurich’s First-Quarter P/C Revenue Rises on Higher Premiums
- Oil-Sands Capital of Canada Now Grappling With Second Wildfire
- Ardonagh Specialty Rebrands Reinsurance Business as ‘Price Forbes Re’
- Before Global Scrutiny, Indian Spice Maker MDH Faced Many US Rejections
- EU Finalizes Investment Fund Labels to Combat Greenwashing
- Markets/Coverages: Coalition Enters Excess Cyber Insurance Market in Australia
- Update: Wildfire Threat to Oil-Sands Capital Expected to Ease as Winds Shift
- South Africa’s President Approves Major Health Reform Law; Legal Challenges Expected
- Brazil States Ask Court to Double Amount Vale, BHP Should Pay for Mining Disaster
- Britain Rejects Call to Ban Gagging Orders in Financial Services Sector
- Santander Flags Data Breach Hitting Some Clients, All Staff
- People Moves: AXA XL Reinsurance Names Sawyer to Expanded Role of Head of London Casualty, Reinsurance; Fusion Specialty Hires 2 for M&A Team in London
- UK Broking and Underwriting Group, Jensten, Announces Strategic Restructuring
- VC Firm Accel Raises $650M to Invest in AI, Cybersecurity Startups in Europe, Israel
- EU Countries Approve Law to Slash Trucks’ CO2 Emissions
- Everest Insurance Launches in Australia, Expanding Its Asia-Pacific Business
- Markets/Coverages: WTW Launches Facility for Cargo and War-on-Land Risks in Ukraine
- Canadian Crews Battle Wildfire Threatening Remote Western Town
- Russian Certifier Steps in After India Drops Safety Cover for Sanctioned Oil Tankers
- People Moves: Tokio Marine HCC Expands Product Recall Offering With 2 Hires From AXA XL; London P&I Club’s CEO Gooch to Step Down, Succeeded by Bean
- Russia Court Suspends Corporate Rights of Alfa Bank Entities, Including Insurance Arm
- PoloWorks Launches Managing General Agent Incubator
- Brazil Braces for More Rain as Historic Flood Damages Mount
- Suspected Pirate Attack in Gulf of Aden Raises Concerns About Growing Somali Piracy
- Western Canada Wildfires Prompt Evacuations, Air Quality Warnings
- UKMTO Reports Hijacking Attempt of Vessel East of Yemen’s Aden
- People Moves: Aon Names Allen as Executive Managing Director of Capital Advisory; BMS Re Hires 6 for MGA Business ProLink Solutions
- Markets/Coverages: Mosaic Launches Suite of Professional Liability Products for Specialist Engineers
- Google Fights $17 Billion UK Lawsuit Over Ad-Tech Practices
- Tech Update: Aon Updates Its Pricing Platform to Enhance Underwriting Decisions
- Mexico Is Battling 159 Active Wildfires
- EU Firms’ Appetite for China Investment Sinks to Record Low
- China Construction Bank Sued in US Over Reinsurance Fraud Losses
- Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure
- Hub International Acquires Certain Assets of Canada’s 2197747 Alberta Ltd.
- EU Commission Eyeing Exemptions for ‘Forever Chemicals’ Ban, Letter Shows
- Range Rover Buyers Offered Insurance Cash After String of Thefts
- Brazilian Floods Are Inflicting Billions in Economic Devastation
- The World’s Biggest Carbon Removal Plant Comes Online in Iceland
- Ardonagh to Acquire Australia’s PSC Insurance Group for A$2.3 Billion
- International General Insurance Holdings Begins Trading at Lloyd’s on May 9
- Markets/Coverages: Marsh Launches Insurance for EU Crypto-Asset Service Providers
- Worsening Weather Igniting $25 Billion Weather Derivatives Market
- Saudi Arabian Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO
- Typhoon Season in Northwest Pacific Seen Less Active Than Normal
- World Extends Run of Heat Records for 11th Month in a Row
- Full Repairs to Damaged Red Sea Internet Cables Delayed by Yemen Political Splits
- El Niño Sees African Union Insurance Agency Pay Out $60 Million
- Specialist Casualty MGA Casper Secures New Capacity Partners, Chaucer and TMK
- Acrisure Expands UK Footprint With Two Deals in Southern England
- Australia’s Qantas to Pay $79M to Settle Flight Cancellation Case
- EU Aims to Target 11 Russian Ships Involved in Sanctions-Busting
- HSB Opens Office in the Kingdom of Saudi Arabia
- Oil Majors Offered Faster Nigerian Exit if They Pay for Cleanup, Compensation
- Red Sea Disruption to Shipping Could Cut Asia-Europe Capacity by 20%: Maersk
- Arthur J. Gallagher & Co. Buys Health Insurance Consultants Australia
- People Moves: AXA XL Promotes O’Malley as Chief Client & Distribution Officer, Americas; GC&C Taps Puerta From QBE as Head of Mediterranean & Latin America
- Brazil Rejects Vale, BHP Settlement Offer for Deadly 2015 Mining Disaster
- Southern Brazil Hit by Worst Floods in Over 80 Years, Killing at Least 39 People
- Yemen’s Houthis Threaten Ships in Mediterranean Sea That Are Sailing to Israeli Ports
- Tech Update: Marsh McLennan Launches AI Solution to Manage Supply Chain Risks
- Israeli Cyber Security Startup Apex Gets Initial Investment From OpenAI’s Altman
- AXA’s Q1 Revenues Rise 6%, Led by P/C Business Growth
- Uber Hit With £250 Million Suit From London’s Black Cab Drivers
- AXA, Apollo’s Athora Scrap Life-Insurance Deal in Germany
- Lloyd’s Insurers Don’t Expect Large Claims From Baltimore Bridge Collapse
- People Moves: Canopius Hires CUO and CFO in Bermuda From Validus and AXA XL; MS Amlin Taps HDI’s Healy as Head of Property & Crisis Management Claims
- MS Reinsurance Gets Ratings Upgrades From AM Best and S&P
- Acrisure Acquires Scottish Broker WH&R McCartney
- Yemen’s Houthis Rebels Attack Portuguese-Flagged Ship in First Deep-Sea Assault
- Geopolitical Risks: Why Underwriters Are Watching Aggregations
- Yemen’s Houthis Attack Four Ships in Indian Ocean, Red Sea
- Ryan Specialty Completes Acquisition of Castel Underwriting Agencies From Arch
- Markets/Coverages: Relm Launches Employment Practices Cover for Capacity Demands
- People Moves: BMS Launches Global Healthcare Liability Unit, Led by Wendin From Carpenter; Gallagher Re Taps Hiscox’s Marling as UK COO
- Agile Syndicate 2427 Gets Lloyd’s Approval to Begin Underwriting
- AM Best Upgrades Rating of Hamilton Re, Hamilton Insurance DAC to “A” (Excellent)
- What Is GPS Jamming and Why Is It an Aviation Problem?
- Hungary’s Orban Comes Under Fire From German Investors Decrying Cronyism
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