International News

EU’s Barnier Still Hopes for UK Trade Deal Despite Latest Crisis

The European Union’s Brexit negotiator told the bloc’s 27 national envoys to Brussels that he still thinks a trade deal with Britain is possible despite a new crisis in the tortuous four-year saga, diplomatic sources told Reuters. Britain left the …

Former Bank of England Chief Carney Joins Advisory Board of Allianz’ PIMCO

Former Bank of England Governor Mark Carney will join the advisory board of PIMCO, one of the world’s biggest bond investment companies, adding to his existing roles with the United Nations and a Canadian asset manager. Carney will work alongside …

Londoners Slowly Return to Work After Schools Reopened

Londoners are slowly returning to work in offices, factories and stores after children went back to school at the start of the month. Data compiled by Google show workplace attendance has increased slightly in three of the UK capital’s main …

What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’

Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a broker he knows. “It isn’t a …

Paskin Named CEO of Convex Re, Bermuda; Butt Named CEO of Convex Insurance UK

Convex Group Ltd., the specialty insurer and reinsurer, announce that Matt Paskin has been appointed as CEO of Convex Re Ltd. (Bermuda) and Theo Butt has been appointed as CEO of Convex Insurance UK Ltd. (London). These appointments are subject …

Insurance Development Forum Launches Insurance Program for Peruvian Schools

The Insurance Development Forum (IDF), a public-private partnership led by the insurance industry and supported by international organizations, announced the launch of an insurance program for Peru’s public schools. The program is the result of a grant agreement between Germany’s …

Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals

Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed recently. Amanda Nguyen, U.S. Casualty Solutions Leader for Reinsurance …

Ex-Security Chief Martin Urges UK to Outlaw Cyber Ransoms

Ciaran Martin, who stepped down as head of the UK’s National Cyber Security Centre this month, will call on Boris Johnson’s government to make it illegal for companies to pay cyber hackers a ransom. “If I had one policy card …

Arcadian Risk Starts New Underwriter in Bermuda With Third Point Re Backing

Arcadian Risk Capital is launching as a new underwriting operation based in Bermuda that will initially underwrite excess casualty and professional lines insurance. Arcadian said it has received its licence from the Bermuda Monetary Authority and will operate as a …

Blackstone Joins Brit’s Parent Fairfax in Investing in Lloyd’s Digital Venture Ki

Digital Lloyd’s syndicate KI reported that it has raised US$500 million from funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings, parent of specialty insurer Brit that is behind Ki. Ki said the capital commitment will fund its expansion …

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