International & Reinsurance News

Jensten Group Buys UK-Based Broker J. Bennett & Son

The Jensten Group, the London-based independent insurance broking group, has acquired J. Bennett & Son Insurance Brokers, based in High Wycombe, England, and its Oxford-based subsidiary, Mathews Comfort & Co., for an undisclosed sum. The deal is subject to regulatory …

Financial Services Companies Urged to Hire More Working-Class Managers

Financial services companies should set “stretching targets” for appointing people from working class backgrounds to senior positions, a UK government-sponsored report said on Thursday [Aug. 11]. The finance industry is already making efforts to appoint more women, Black and ethnic …

IRB Brasil Re Weighs New Share Offering After Warnings About Capital Adequacy

IRB Brasil Resseguros SA on Monday said it is considering a new capital increase to reinforce its financial structure, after market participants raised multiple alerts on the Brazilian reinsurer‘s capital sufficiency. The move would most likely be a fresh follow-on …

Rhine River Water Level Hits New Low, Forcing Some Barges to Halt Transport

The Rhine River’s water level at a key waypoint hit a new low, risking the transit of fuel and other goods as Europe’s climate crisis exacerbates its energy-supply crunch. The marker at Kaub, a particularly shallow point west of Frankfurt, …

Brazil Fines Vale $16.9M for Lack of Reliable Details About Collapsed Tailings Dam

Vale SA was fined 86.3 million real ($16.9 million) for not giving Brazil’s mining regulator accurate information on the conditions at a tailings dam that collapsed three years ago, killing 270 people in the deadliest mining disaster in the country’s …

Scope of EU Ban on Russian Coal and Fertilizers Jolts Insurers

The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal and some fertilizers applies to shipments anywhere in the world. An EU ban on imports of Russian coal and other …

People Moves: Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO

This edition of International People Moves details appointments at Peak Re and CNA Hardy. A summary of these new hires follows here. Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO Peak Re, a Hong Kong-based global reinsurer, announced the …

Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires

Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance Group Ltd. expired, according to people familiar with the matter. Hang Seng Bank …

Security Firm Finds Cyber Vulnerabilities at Indian Online Insurance Aggregator

NEW DELHI (AP) – Last month, a cyber-security startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers …

Credit Suisse Steps Up $440M Legal Dispute With SoftBank Over Greensill Funds

Credit Suisse has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp. in a $440 million dispute over Greensill-linked funds, two sources familiar with the matter said on Thursday. Switzerland’s second-largest bank is …

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