International & Reinsurance News for July 2024
- Landslides in Southern India Kill at Least 93 With Many More Trapped
- People Moves: Malmström Named Swiss Re’s Group CFO as Dacey Retires; MNK Re Appoints Industry Veteran Ashby as Global Chief Commercial Officer
- Global Accounting Body Wants More Rigor in Showing Climate Impacts
- Extreme Weather Sends Insured Losses 70% Above Historical Norms
- French Farmers Facing ‘Catastrophic’ Harvest Seek State Help
- AXA IM Prime Buys 20% Stake in French Private Credit Firm Rivage
- HDI Global Receives License to Open Office in Dubai
- South Africa Races to Contain Oil Spill From Wrecked Cargo Ship
- Typhoon Remnants Bring Rains, Floods That Kill Four in China
- Reinsurer SCOR’s Recovery Clouded by First Quarterly Loss Since 2022
- Companies ‘Paralyzed’ as Australia Plans Tough Climate Rules
- Private Equity Firm Centerbridge Weighs Exit Options for £3 Billion Canopius at Lloyd’s
- Brown & Brown Agrees to Buy Dutch Insurance Broker, Quintes Holding B.V.
- Legacy Acquisition Specialist Enstar to Be Acquired by Sixth Street for $5.1B
- Aspen Promotes Dunleavy to Group President, Succeeding Coleman
- Update: French Internet Cables Severed in Latest Attack During Olympics
- Wildfire in Jasper National Park Could Burn for Months, Canadian Official Says
- Beirut Flights Canceled, Delayed Amid Fears of Israeli Attack
- ECB’s Cyber Security Test Shows ‘Room for Improvement’ for Banks
- BMS Agrees to Purchase UK Insurance Broker DR&P From Private Equity Firm Inflexion
- Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions
- Paris Trains Hit By Sabotage Hours Before Olympics Kick Off
- Aon Reports 6% Drop in Q2 Net Income, Organic Revenues Grow 6%
- People Moves: Vantage Promotes Bellitti as Chief Pricing & Portfolio Actuary, Names BHSI’s Valzania as CUO; AXA XL Promotes Bailey as Head of Professional, Bermuda
- Typhoon Gaemi Lashes Southeast China After Pounding Taiwan, Flooding Philippines
- Devastating Wildfire Burns Down Almost 50% of Western Canadian Tourist Town
- Russian Commodities Aren’t Safe in Red Sea as Houthis Attack
- AM Best Puts SCOR’s Credit Ratings Under Review After L&H Reserve Announcement
- People Moves: Marsh Promotes McKay as UK Advisory Leader; BHSI Launches Surety in Spain, Led by Barbero; IQUW Promotes MacDonald to Head of Property
- Explosion and Fire Hit Tequila Factory in Mexico, Killing at Least 5 Workers: Officials
- WTW Reports 48% Hike in Q2 Net Income With Organic Growth of 6%
- Philippines Rushes to Contain Oil Spill From Sunken Tanker
- Typhoon Gaemi Aims for China, Leaves Vessels Capsized
- Japanese Population Falls at Fastest Pace in Demographic Crisis
- BHP Must Stop Funding Legal Action to Halt Mariana Dam Claim, London Court Rules
- New London-Based Specialty Reinsurer, Stability Re, Launched
- Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix
- Global Q2 Commercial Insurance Rates Remain Flat, Ending 7 Years of Price Hikes: Marsh
- Canadian Wildfires Threaten Oil Output, Prompt Evacuations
- Deadly Typhoon Gaemi Floods Philippines, Shuts Taiwan
- People Moves: AXA’s Rodriguez Forero Named CEO of Newly Formed DUAL LatAm
- Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions
- MGU Carbon Underwriting Gets Initial Lloyd’s Approval to Launch New Syndicate
- UK Water Companies Lambasted by Environment Agency for Sewage Releases
- World Records Hottest Day While Wildfires Threaten Mediterranean
- British Insurers Propose Green Infrastructure Funding Model
- US Severe Storms Continue to Drive Global Natural Disaster Losses: Gallagher Re
- People Moves: WTW’s Risk & Broking Unit Names Marsh’s Clarke as President, Garrard Appointed Chair; Everest Names McBride, Garcia for Key Claims Roles
- Somali Piracy Revives Sharply After Years of Quiet
- Without Backup Plans, Global IT Outages Will Happen Again
- Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait
- Allianz Sees Damages Worth Tens of Millions for German Vineyards
- Vulnerabilities in Non-Banks Leave Door Open to ‘Shocks’, G20 Watchdog Says
- Update: Oil Tanker That Fled Collision Site Is Detained in Malaysia
- Cargo Ship Sustains Damage After Houthi Attack in Gulf of Aden
- What Disruptions Have Been Reported After the Global Tech Outage?
- Global Tech Outage Disrupts Industries, Highlights Online Risks
- Angola to Sell Stakes in Biggest Insurer, Standard Bank Unit
- Two Oil Tankers on Fire in Waters Near Singapore, Crew Members Rescued
- People Moves: Liberty Mutual Re Taps Aon’s De La Mare to Lead New Australia/New Zealand Unit; H.W. Kaufman London Names AIG’s Greensmith to Lead Int’l Portfolio
- More Reforms Needed to Tackle Shadow Banking’s ‘Hidden Leverage’: BoE Regulator
- Insured Losses for Floods in Southern Germany Estimated at €1.6B: PERILS
- Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re
- UK Lays Out Stronger Cybersecurity Defenses After Attack Crippled NHS Hospitals
- Islamic Insurance Helps Cover Muslim Farmers Battling Climate Change
- World Bank Eyes First ‘Drought’ Bond in Next 12-18 Months
- People Moves: DUAL Swiss Taps Tokio Marine’s Wyss as Managing Director; WTW Appoints 3 Senior Hires to International Casualty Team
- Russian Tactics Make Secret Tanker Oil Switching Harder to Trace
- Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition
- Air Canada Hit by Court Ruling After Ex-Maintenance Workers Sue
- UK’s First Coal Mine in 30 Years Faces Climate Court Test
- Allianz Makes $1.6 Billion Offer for 51% of Singapore’s Income Insurance
- People Moves: Aon Taps Thomas From Lloyd’s as Head of Lloyd’s Capital; McLarens Names 2 Leadership Appointments in Latin America
- Markets/Coverage: Lemonade Expands Home Insurance Offering in UK
- Catastrophe Bondholders Sidestep Large Losses From Weather-Related Calamities
- Crew of Capsized Oil Tanker Off Oman Still Missing, Maritime Center Says
- PwC Weighs Halving of China Financial Services Audit Staff, Sources Say
- Toronto’s Traffic Crisis Is Keeping Workers Out of the Office, Poll Says
- UK, EU States to Target Russia’s Shadow Oil Fleet With More Checks
- Lloyd’s Insurer AEGIS London Launches Data Science and Analytics Team
- Parametric Insurance Helps Farmers and Others Hit Hard by Extreme Weather
- Ping An Insurance Seeks $3.5 Billion in Convertible Bonds
- Natural Disasters Cost China $13 Billion in January-June
- The World’s Power Grids Are Failing as the Planet Warms
- Ships Fleeing the Red Sea Now Face Perilous African Weather
- What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.
- South Africa Storms in Western Cape Cause Damage to 35,000 Homes
- Greece Fights Deadly Fire on Aegean Island as Temperatures Soar
- Wildfires Encircle Canada’s Oil-Sands City Amid Hot Weather
- French Shipping Company CMA CGM Loses 44 Containers in Tough Weather
- Aviva Completes Acquisition of Probitas, Re-entering Lloyd’s After More Than 20 Years
- Damage From Hurricane Beryl May Cost Insurers $2.7B in US, $510M in Caribbean: KCC
- Global Reserve Managers Upbeat on Growth but Worry About Geopolitical Risks
- Hurricane Beryl Triggers Record Payout for Caribbean Insurer
- UK’s Direct Line to List on Price Comparison Websites in Strategy Shift
- PwC Starts Mass China Layoffs After Losing Dozens of Clients
- Caribbean Braces for Economic Punch After Season’s Deadly 1st Hurricane
- UK Hospital Hack Leaves Kidney Patients at Higher Risk of Heart Failure
- Canada Insurers Investing in Fossil Fuels as Climate Risks Grow: Shareholder Group
- Greece Evacuates Hospital as Wildfire Threatens City of Patra
- People Moves: SiriusPoint Int’l Managing Agency Names Castel’s Williams as Chief Risk Officer; Everest Promotes Townsend to Chief Ceded Reinsurance Officer
- Tech Update: WTW Offers Next Generation Investment Management Insurance Solution
- Russian Court Orders Volkswagen to Pay $193M in Damages to Russian Carmaker
- EU Markets Watchdog Signals a Hard Line on New ESG Disclosures
- Earth Continues Streak of Record-Shattering Hot Months
- People Moves: Grant Joins MGA Devonshire as Underwriting Manager; Generali GC&C Makes 3 Key Appointments in Mediterranean and LatAm Region
- Ardonagh Advisory Acquires UK’s Rollinson Smith Insurance Brokers
- Brazil Sues Syngenta for Alleged Environmental Damage
- Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
- Banks Face Record Number of UK Lawsuits as Economy Stumbles
- Catastrophe Bonds Dodge Losses After Beryl Hits Jamaica
- Corporate France Braces for New Era of Political Turmoil
- Investors Put UK Election Winner Labour on Credibility Watch
- Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics
- Labour Win Brings Few Hopes or Fears to London’s Financial District
- Houthi Threat Triggers Surge in Pirate Attacks Off Somalia Coast
- Abandoned Tanker Lavant Has Likely Sunk Off Yemen, Sources Say
- Switzerland, EU Restart Financial Market Talks After Long Hiatus
- Banks to Publish Crypto Asset Exposure From 2026, Global Regulators Say
- Update: Beryl Rakes Mexico’s Yucatan With Hurricane Winds and Heavy Rain
- Zimbabwe Gets $32 Million in Drought Insurance From Agency of African Union
- People Moves: Everest Taps BHSI’s d’Huart as Head of France, Charon Named Head of Client Engmt, Europe; CNA Hardy Promotes Magnus as Active U/W at Lloyd’s
- Houthis Escalate Red Sea Danger With Explosive Drone Attacks
- Specialist Risk Group Acquires Political Violence MGA, Tristar Special Risks
- Howden Enters Japanese Market, Invests in Keystone ILS Capital
- Hurricane Beryl Roars Toward Jamaica on Destructive Path
- What Is China’s Planned Financial Stability Law and How Will It Work?
- London Defers Tallest Tower Decision Amid Neighbors’ Objections, Including Lloyd’s
- Coverys Launches London Market Insurer, Approved to Write US E&S Business
- Japan Insurers Plan to Sell $3.1 Billion Worth of Honda Shares, Reuters Reports
- Right-Wing Political Tilt in Countries Across Globe Will Not Derail Climate Action
- China Refines Financial Stability Law to Strengthen Risk Prevention
- Scientists Concerned That a Bird Flu Pandemic Is ‘Unfolding in Slow Motion’
- Beryl Becomes Earliest Ever Category 5 Hurricane in Atlantic
- AI and APIs: Essential Tools for Zurich Insurance Group’s Digital Leap
- AM Best Ratings Unchanged for Accredited, Onex’s New Program Management Unit
- People Moves: HDI Global Canada Promotes Navarrete to Managing Director; AXA XL Appoints Kuklinski as Regional Mgr. for Northern Europe, Germany’s Country Mgr.
- Fidelis Partnership Syndicate 3123 Begins Underwriting Business at Lloyd’s
- Cyber Insurance Rates Drop as Businesses Improve Security, Report Says
- Markerstudy Completes Purchase of Ardonagh’s Personal Lines Broking Business
- ‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
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