International & Reinsurance News for August 2024
- Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker
- Climate Change Intensified Typhoon Shanshan, Study Says
- Australia’s Agile Launches New Zealand Unit to Support Its New Lloyd’s Syndicate
- Salvage of Stricken Oil Tanker in Red Sea Expected in Coming Days, Sources Say
- Munich Re and Swiss Re Both Top List of 2023’s Largest Reinsurers
- Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say
- UK’s Aviva Conspired to Dodge India Compensation and Tax Rules, Agency Says
- South Africa Insurer Santam Plans Asia Expansion, Following Success of Parent Sanlam
- Telegram Lawyer Says Investigation Into CEO Durov Is ‘Absurd’
- Captain of Sunken Superyacht Declines to Answer Prosecutors’ Questions, Lawyer Says
- Hedge Fund Fermat Says Returns Took a Hit Amid Catastrophe Bond Selloff
- Romanian Government Plans Drought Insurance Scheme for Farmers
- EU Mission in Red Sea Says no Oil Spill From Tanker Damaged in Houthi Attack
- Houthis Say Tugs Can Tow Away Stricken Oil Tanker Attacked in Red Sea
- Millions Evacuated as Typhoon Slams Southwest Japan, Halting Flights and Factories
- Red Sea Insurance Nearly Doubles After Attacked Oil Tanker Appears to Be Leaking Oil
- Cybercrime and Sabotage Cost German Firms $300 Billion in Past Year
- Insured Losses From Canada’s Jasper Wildfire Surpass C$880 Million
- UK Tones Down Worker ‘Right to Switch Off’ Demands on Firms
- Update: Japan Issues Emergency Warning as Powerful Typhoon Shanshan Approaches
- Update: US Warns Leaking Oil Tanker Poses Growing Red Sea Pollution Risk
- Update: EU Faces 2 Lawsuits Over Emissions Rules, ‘Green’ Label for Planes
- UK Broker Clear Group Acquires R T Waters Ltd.
- Storm Warnings Issued Across Southern Europe – From Italy to Serbia
- South Korea to Advance EV Battery Certification Scheme After Series of Fires
- Aviation Regulators Press for Global Action to Reduce Injuries From Turbulence
- Telegram CEO Held Over Alleged Failure to Stop Crime on App
- Uber Hit by Record $324 Million Fine for Data Transfers to US
- What Policies Have Worked to Fight Climate Change? Answer: When the Polluter Pays.
- Fires Burn on Houthi-Hit Oil Tanker but No Spill Yet, EU Says
- Australians Can Now Legally Ignore Work Calls, Emails After Hours
- Captain of Sunken Superyacht Placed Under Investigation
- Australian Homeowners Struggling to Afford Insurance as Climate Risks Grow: Report
- Stora Suspends Forest Harvesting After Thousands of Mussels Die
- Typhoon Shanshan Headed for Japan Threatens Transport Links
- Fires Spotted on Red Sea Tanker Drifting With Oil on Board
- Complex Salvage Operations Begin as Last Body Is Recovered From Wrecked Superyacht
- Tornado-Like Waterspouts Are ‘More Likely’ as the Mediterranean Warms
- London-Based Ship Registry Helps Russia Oil Tankers Keep Running
- Markets/Coverages: Ascot Launches Capital Mgmt Platform for 3rd-Party Capital Biz
- Update: Greece Battles Wildfires While Storm Lilian Crosses UK
- Ping An Profit Rises Nearly 7% as Market Recovery Bolsters Returns
- Hiscox Confirms Chairman Bloomer Died During Yacht Accident Off Coast of Sicily
- Crew Evacuated From Houthi-Stricken Oil Tanker in Red Sea
- Why the Canadian Freight Rail Halt Will Roil North American Supply Chains
- Remnants of Hurricane Ernesto Trigger Wind and Rain Warnings in Scotland
- Unseasonal Winter Heat Across Australia Raises Wildfire Risks
- Swiss Re First-Half Profit Beats Estimates on Lower Catastrophe Claims
- Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say
- Malawi Gets Insurance Payout of $11.2 Million for El Niño-Linked Drought Disaster
- Storm Warnings in Place Across Europe, From Northern Greece to Poland
- Markets/Coverages: Rokstone and Accredited Announce Multi-Year Capacity Agreement
- Update: Divers Retrieve 5th Body From Mike Lynch Yacht Sunk Off Sicily
- US Firms Warn Against ‘Unprecedented’ Hong Kong Cyber Rules
- Australian Insurer IAG Says Rise in Claims, Third-Party Costs to Push Up Premiums
- Specialist Risk Group Acquires UK-Based Anthony James Insurance Brokers
- Markets/Coverages: Marsh Launches $50 Million Port Blockage Insurance Facility
- Beryl-Battered Grenada Becomes 1st Country to Use Government Bond Hurricane Clause
- Update: Taiwan’s CTBC Financial Plans to Buy Rival Shin Kong
- Storms Threaten Mediterranean From Sicily to Ionian Sea Islands
- Morgan Stanley’s and Hiscox’s Bloomer Among Those Missing After Yacht Sinks
- The Era of Runaway Heat Records Is Here
- SME Broker Ardonagh Advisory to Acquire UK-Based R.K. Henshall
- Net Zero’s Carbon Removal Conundrum
- UK Insurers Call for Rule Change to Establish Captive Insurance Regime
- Europe’s $42 Billion Effort to Fight Wildfires Is an Uphill Battle
- The Huge Profits Investors Have Made on Catastrophe Bonds Are Raising Eyebrows
- Wildfire Near Athens Burns Area Nearly Twice the Size of Manhattan
- The Shaky Ground Below Istanbul Is Getting People Worried
- Toxic Waste Bound for Thailand on Maersk, MSC Cargo Vessels to Return to Europe
- Ernesto Becomes Category 2 Hurricane as It Heads to Bermuda
- Why Is Mpox an Emergency Again, and How Worried Should I Be?
- Mutating Mpox Virus Poses Challenges to Containment Efforts
- People Moves: Markel Taps QBE’s Smith to Lead Marine & Energy Liability Team, Int’l Specialty; QBE Promotes Lascelles as Dir. of Underwriting, Marine and British Marine
- Hard Reinsurance Prices Likely to Last Longer Than in Previous Market Cycles: Report
- Update: Severe Typhoon Skims Japan, Disrupting Flight, Train Services
- Hurricane Ernesto Threatens Bermuda, Leaves Puerto Rico in Dark
- EY, KPMG Benefit Most From PwC China’s Regulatory Woes
- Catastrophe Bond Issuance Is Set to Blast Through 2023 Record
- Russian Court Orders $1.2B of Linde UK Assets Be Frozen
- People Moves: Accredited Taps SCOR’s McMurdo to Lead UK, European Operations; Aon Promotes Barcock to Lead Aviation Reins., Admiral Stavridis Appointed to Board
- Floods Threaten Europe as Searing Heat Gives Way to Storms
- South Korean Alarm Over EV Battery Fires Puts Spotlight on Safety Concerns
- UK Insurer Aviva Beats Earnings Forecasts on Home, Motor Insurance Price Hikes
- Was July 2023 or July 2024 the Hottest Month on Record? Yes.
- Markets/Coverages: Liberty Mutual Re, Insurtech Sprout Offer Parametric Cover for Kenyan Coffee Farmers Facing Climate Risk
- Insurance Broker NFP Acquires Orca Financial Group in Ireland
- People Moves: Miller Names Thevenot for Strategic Sports and Entertainment Team; Tokio Marine HCC International Promotes 2 in UK Trade Credit Division
- Athens Braces for Wildfire Flare-Ups as High Winds Return
- Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report
- Thailand Races to Stop Toxic Waste Cargo on MSC, Maersk Ships
- Tech Update: Hiscox Launches GenAI-Powered Lead Underwriting Platform
- UK Cyber Spies Plan AI ‘Lab’ to Counter Hostile State Threats
- Swiss-Based Engineering Firm Schlatter Says IT Network Affected by Cyberattack
- People Moves: Everest Launches Global Broker Management Team Led by Izzo; Evolin Broking Launches Casualty Division With 3 Senior Hires
- UK Revisits Social Media Regulation After Far-Right Riots
- Four Suspected Houthi Attacks Target Ship Off Yemen, Authorities Say
- Ukraine Boosts Grain Exports Despite Intensified Russian Attacks
- Generali Profit Falls as Europe Flooding Hurts Non-Life Results
- Germany Is Europe’s Prime Target for Audacious ATM Bombings
- Flight, Voice Data From Brazil Plane Crash Extracted in Probe
- Australian Pensions Industry Boosts Investments in Natural Catastrophe Reinsurance
- Japan Issued Its First ‘Megaquake’ Warning After Powerful Tremor
- Taylor Swift Cancellations Deal Blow to Insurers: Sources
- Update: Australia’s QBE More Than Doubles First-Half Profit, but Misses Estimates
- Hong Kong’s Insurance Boom Lures Job-Seeking Mainlanders
- Legacy Acquirer DARAG to Sell North America, Bermuda Units to Fairfax’s RiverStone
- European Insurers Enjoy Big Profits After Premium Hikes
- UK Insurers Pull Back From Offering Cover as Flood Threats Rise
- UK Insurer Beazley Upgrades 2024 Forecast After H1 Profit Nearly Doubles
- Taylor Swift Shows in Vienna Canceled After Terrorism Threat
- Update: Zurich Insurance Tops Profit Forecast, on Track to Beat 2025 Targets
- Western Insurers Provide Cover for Russian Oil Despite Price Cap Concerns
- Severe Storms (Mostly in US) Account for 70% of Global Insured Natural Disaster Losses
- People Moves: Markel Announces 2 Key Hires for International Casualty Team; Howden Re Taps Gruen From AXIS as Head of Cyber Threat Intelligence
- Fidelis Partnership Launches Renewables MGA Called ‘Novagen’
- China Evergrande Group’s Liquidators Start Legal Action Against PwC
- Norway Salmon Farming Industry Grapples With Harsh Climate Effects
- Time to Retire ‘Hard to Abate’ as Climate Solutions Become More Affordable
- Fosun’s Fidelidade Explores Sale of New Lisbon Headquarters
- People Moves: Arch Insurance International Promotes Penberthy to CFO; Price Forbes Singapore Names Coates as Chief Broking Officer
- UK Faces High Wildfire Risk After Spell of Warmer Weather
- Two More Wirecard Executives Charged in Germany Over Accounting Scandal
- Nearly a Third of Carbon Credits Fail New Benchmark Test
- UK’s Thames Water Seeks Deal to Escape £104 Million Sewage Fine
- Singapore Monetary Authority Defends Allianz’s $1.7B Plan to Buy Income Insurance
- A Gas Carrier Faking Its Location Helps Russia Avoid Sanctions
- People Moves: QBE Promotes Desch as German General Mgr; Trium Syndicate Taps TMK’s Metsanvirta as Active U/W; Markel Announces Key Hires for Singapore, HK
- How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore
- China Asks Large State Financial Institutions to Drop Auditor PwC, Sources Say
- Ambac Completes Buy of Majority Stake in London’s Beat Capital Partners
- Guy Carpenter: ‘Kitty Cat’ CrowdStrike Outage to Cause $300M-$1B in Insured Losses
- Hong Kong Hits AIA With Record Fine for Anti-Money Laundering Lapses
- Tesla Registers Insurance Brokerage in China, National Corporate Database Shows
- Suspected Chinese Hackers Hit Taiwanese Research Center
- BNP Paribas in Talks to Buy AXA Investment Managers for €5.1 Billion
- Howden to Acquire Allianz UK’s Musical Insurance Book
- Markets/Coverages: Coalition Introduces Active Cyber Insurance in Germany
- UK Financial Firms Spur IPO Optimism as Europe Rebound Stutters
- Ardonagh’s Geo Underwriting to Buy Navigators & General From Zurich UK
- Insurance Broker Miller Acquires Swiss Reinsurance Capital Advisory Business
- North Macedonia Seeks EU Assistance as Wildfires Burn Across the Balkans
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