Global Insurers Face Hefty Costs of $15B-$20B to Implement IFRS 17: WTW June 8, 2021 The total cost faced by the global insurance industry to implement IFRS 17 is estimated to be in the range...
Bank of England Launches Climate Change Stress Test for Insurers, Banks June 8, 2021 By Huw Jones The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial...
Contaminants from Sri Lanka Ship Wreck Could Cause Wide-Reaching Damage June 8, 2021 By Laura Millan Contaminants released from the wreckage of a container ship off the coast of Sri Lanka could be dragged thousands of...
Failure of Many ‘Zombie’ Companies Likely to Keep Insurance Rates Rising: Swiss Re June 8, 2021 By Alwyn Scott The expectation that hundreds of so-called zombie companies will fail over the next few years and drag on the economy...
Italian Insurer Cattolica Delays €200M Cash Call due to Generali’s Recent Takeover Offer June 8, 2021 MILAN – Italian insurer Cattolica said on Monday it had decided to delay a planned 200 million euro ($244 million)...
Argo Group to Stop Insuring Canada’s Trans Mountain Pipeline, Joining Other Carriers June 7, 2021 By L.S. Howard Lloyd’s insurer Argo Group has decided to stop insuring Canada’s Trans Mountain tar sands pipeline when its current insurance policy...
Busier-Than-Normal Cyclone Season Predicted for East Asian Nations June 7, 2021 By Kanupriya Kapoor SINGAPORE – Half of the roughly 20 tropical cyclones expected to form in the western Pacific Ocean through September this...
People Moves: Aon’s Wakefield to Gallagher Re as CEO, Succeeding Behagg; Arch’s Rippert as Head of Mortgage at Aspen; Desmond Promoted at Marsh UK & Ireland June 7, 2021 This wrap-up of international People Moves details appointments at broker Gallagher Re, Aspen Insurance Holdings’ mortgage team and Marsh’s UK...
German Insurtech ELEMENT Raises $19.5M to Continue Growth June 7, 2021 ELEMENT, the Berlin-based white-label provider of digital insurance solutions, has raised €16 million (US$19.5 million), in additional investment from existing...
New Global Board for Corporate Sustainability Standards Gets Heavyweight Advisers June 7, 2021 By Huw Jones Former European Central Bank President Jean-Claude Trichet will head an advisory group on setting up a global board for sustainability-related...