International & Reinsurance News

Flood-Stricken British Columbia Weighs Cost of Climate-Proofing Infrastructure

CALGARY, Alberta – Flood-stricken British Columbia is considering major upgrades to its highway network to make it more resilient to climate change risks, as the province starts reconstruction work after last week’s devastating floods. Upgrades would include building longer bridges …

Insurtech Startup Kettle Raises $25M to Expand Wildfire Reinsurance Protection

Kettle, the San Francisco-based reinsurance startup that uses artificial intelligence to better protect people from the growing wildfire risks of climate change, announced it has been reinsuring homes during the 2021 wildfire season and that it raised a Series A …

Thai Activists’ iPhones Targeted by ‘State-Sponsored Attackers,’ Warns Apple

BANGKOK – Apple Inc. issued on Wednesday alert messages to at least six Thai activists and researchers who have been critical of the government, warning it believed their iPhones had been targeted by “state-sponsored attackers,” according to activists and the …

IncubEx, Led by Industry Veteran Eckert, Buys UK Insurtech Platform Insurwave

IncubEx Inc., a Chicago-based company that is chaired by industry veteran Neil Eckert and designs and develops new financial products in global environmental, climate risk and related commodity markets, announced the acquisition of Insurwave Ltd. Insurwave is an insurtech platform …

Claims Services Provider McLarens Forms Strategic Alliance With Polish Firm Saltex

McLarens, the Atlanta-based insurance services provider, has entered into a strategic alliance with Saltex, a Polish claims management and loss adjusting firm with offices in Warsaw and Wroclaw. Operating as McLarens’ exclusive affiliate in Poland, the partnership with Saltex will …

Investor Warburg Cuts Valuation of Ant Group by 15% to Below $200B: Source

HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …

People Moves: Mosaic Launches London M&A Team, Hiring From Liberty Mutual, AIG; BHSI Promotes 2 in UK; Marsh’s Dubreuil to MGA Alta Signa in Brussels

This edition of International People Moves details appointments at Mosaic Insurance, Berkshire Hathaway Specialty Insurance and MGA Alta Signa Europe. A summary of these new hires follows here. Mosaic Launches London M&A Team With Hires from Liberty Mutual, AIG Mosaic …

Guy Carpenter and Marsh to Combine South Africa Facultative Reinsurance Businesses

Reinsurance broker Guy Carpenter and insurance broker Marsh, both businesses of Marsh McLennan, said they are combining their South Africa facultative reinsurance operations into a single business, effective Jan. 1, 2022. The new unit will operate under the Guy Carpenter …

Guyana Weighs Raising Requirements for Insurance Cover for Oil Spills: Official

Guyana is getting ready to raise requirements on oil operators to protect the nation against spills and future removal costs of production platforms, the head of its environmental agency told Reuters. Guyana currently requires financial assurance, a type of insurance, …

Uber UK Accused of Undermining Court Ruling on Worker Rights

Nine months after the UK Supreme Court made a crucial decision that effectively forced Uber Technologies Inc. to provide worker rights for its riders, the firm is back in court accused of trying to undermine the judgment. Uber has challenged …

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