Update: Floods Strand Cows, Damage Crops as Wild Weather Hits Australia January 9, 2024 By Keira Wright and Amy Bainbridge Heavy rains and flooding across Australia’s southern state of Victoria has damaged crops and stranded cattle as a months-long run...
Insured Price Tag for Natural Disasters Was $95B in 2023 With Economic Cost of $250B January 9, 2024 By L.S. Howard Natural catastrophes in 2023 caused global economic losses of US$250 billion, with insurers and reinsurers paying US$95 billion of that...
Oil Tankers Continue Red Sea Movements Despite Houthi Attacks January 9, 2024 By Georgina McCartney and Arathy Somasekhar Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted...
People Moves: Everest Re Promotes Wallace as Head of UK Branch and CUO; Swiss Re Corporate Solutions Names Rüsch as Head of DACH Region January 8, 2024 This edition of International People Moves details appointments at Everest Reinsurance and Swiss Re Corporate Solutions A summary of these...
China Broker TIAN RUIXIANG Agrees to Buy Hong Kong’s Peak Consulting Services January 8, 2024 TIAN RUIXIANG Holdings Ltd., the Beijing, China-based insurance broker, announced its subsidiary TRX HongKong Investment Ltd., has entered into a...
Markets/Coverages: Lloyd’s Announces 1st 144A Cat Bond on Its London Bridge Platform January 8, 2024 Lloyd’s, the re/insurance marketplace, announced that the first 144A catastrophe bond has been issued on its risk transformation platform London...
Russia Oil Tankers Are Doing Strange Things Since Ramp Up of US Sanctions January 8, 2024 By Sherry Su and Julian Lee There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in...
Gallagher Acquires German Specialty Broker Köberich Financial Lines January 8, 2024 Gallagher announced it has acquired Köberich Financial Lines. Terms of the transaction were not disclosed. Köberich specializes in D&O insurance,...
Hong Kong Employees Demand 6% Raise to Work in Office Full Time January 8, 2024 By Shawna Kwan Hong Kong workers say they would need a 6% raise to give up hybrid work arrangements, a dilemma that’s expected...
Inigo Issues 3rd Catastrophe Bond for $100 Million January 5, 2024 Inigo Ltd. announced it has issued its third catastrophe bond for $100 million via Montoya Re Ltd. The cat bond...