International News

German Prosecutors Eye Investigation of Auto Supplier Bosch over Emissions Scandal

German prosecutors may widen an investigation into auto supplier Robert Bosch over its suspected involvement in emissions test cheating to include dealings with Fiat, Ford, General Motors and Hyundai, according to the Stuttgart public prosecutor’s office. German weekly der Spiegel …

AIG Prepares for Brexit with Authorization of UK, Luxembourg Subsidiaries

American International Group Inc. announced the authorization of new insurance companies in the United Kingdom and Luxembourg in preparation for the UK’s exit from the European Union. The formation of the two new units provides clients certainty of uninterrupted UK …

Tokio Marine Kiln Forms Strategic Agreement with Australian Insurtech Firm Evari

Tokio Marine Kiln (TMK), the specialist and corporate insurance business, announced it has formed a strategic agreement with Australian insurtech firm Evari. The agreement will allow TMK to access Evari’s digital insurance platform and on-demand products in the Australian market. …

Miller Hires RKH’s Denee, Marsh’s Moseley for Its Credit and Political Risks Team

Rosie Denee and Oscar Moseley have joined Miller to further enhance its credit and political risks offering. Both will be based in London with a focus on political risk and structured credit insurance, specifically for financial institutions. Rosie joins Miller …

Insurance Australia Group Plans to Sell Troubled SE Asian Businesses: Sources

Insurance Australia Group is set to sell its four Southeast Asian businesses in deals that could be valued at about $500 million, under a review of its Asian operations, three people with knowledge of the matter said. IAG, Australia’s biggest …

Generali to Sell Belgian Operations to Athora Holding for $668.3M in Cash

Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to regulatory approvals. Generali Belgium S.A. …

Envelop Risk Appoints Hannover Re’s Chatterjee as Chief Underwriting Officer

Envelop Risk, a London-based cyber insurance analytics and underwriting firm, announced it has appointed Aritra (Ari) Chatterjee as chief underwriting officer. Chatterjee was formerly the lead cyber underwriter with Hannover Re (Bermuda), a line of business he helped to establish. …

Ensurance UK Launches Combined Construction Liability Product

Ensurance UK Ltd., the niche construction and engineering managing general agent (MGA) and Lloyd’s coverholder, has launched a combined construction liability product, backed by Faraday Syndicate 435 at Lloyd’s. The new liability product extends Ensurance UK’s construction and engineering portfolio, …

Schwarzenegger’s UK Ad Campaign Drives Hike in Claims for Mis-Sold Insurance

Complaints about financial services firms rose by 13 percent in the second half of last year, driven by an increase in grievances about the mis-selling of payment protection insurance after an ad campaign featuring Arnold Schwarzenegger. Complaints to the Financial …

Spanish Mayor Offers Gibraltar’s Insurers a Solution for Post-Brexit Access to EU

A small town mayor from southern Spain is offering Gibraltar-based insurers a way to retain access to the European Union single market after Britain leaves the bloc next year. Juan Franco of La Linea on the southern tip of the …

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