Natural Disasters Cost Insurers $120B in 2021. Munich Re Points to Climate Change Link. January 10, 2022 Natural disasters across the globe caused economic losses of US$280 billion in 2021, of which roughly US$120 billion were insured,...
UK Orders Housebuilders to Pay $5B to Help Remove Dangerous, Flammable Cladding January 10, 2022 Britain has ordered housebuilders to pay around $5.4 billion to help remove dangerous cladding from buildings following a deadly 2017...
China’s Anti-Graft Watchdog Probes Chairman of China Life Insurance January 10, 2022 SHANGHAI – China’s Central Commission for Discipline Inspection (CCDI) has placed Wang Bin, the chairman of China Life Insurance Co....
Arch Re Promotes Moeller to CEO, With Bongiorno, Hackett as CUOs; Brit Hires Hiscox’s Allchorne, Aviva’s Wells for N. America Open Market Property Team January 7, 2022 This edition of International People Moves details appointments at Arch Re and Brit. A summary of these new hires follows...
Global M&A to Remain Strong in 2022 as Valuations Reach Record Highs: WTW January 7, 2022 Global mergers and acquisitions activity attained historic highs in 2021 with 1047 deals valued more than $100 million, a significant...
Qatar Airways Seeks More Than $600M in Dispute Over Airbus A350’s Surface Flaws January 7, 2022 By Tim Hepher and Guy Faulconbridge Qatar Airways is seeking more than $600 million in compensation from Airbus over surface flaws on A350 jetliners, according to...
Fortitude Re Forms Bermuda Multi-Line Reinsurer, Buys U.S. Life Insurer January 7, 2022 Fortitude Re announced the formation of a Bermuda multi-line reinsurer and the acquisition of a U.S. life insurer. In addition,...
Airbus Faces €300 Million Lawsuit From Group of Investors Over Bribery Scandal January 7, 2022 By Ellen Milligan and Charlotte Ryan Airbus SE is facing a 300 million euro ($340 million) lawsuit from a group of investors over allegations it failed...
Canada’s Insurers and Banks Rethink Return-to-Office Plans Amid Omicron Concerns January 7, 2022 Canada’s top health official Theresa Tam has warned that COVID-19 cases in the country could jump in coming days, due...
People Moves: WTW Hires Magilton to Lead Canada Risk & Broking, Powney to Head Surety for Europe/UK; Hiscox Re & ILS Names MS Amlin’s Wilken as CUO January 6, 2022 This edition of International People Moves details appointments at Willis Towers Watson and Hiscox. A summary of these new hires...