International & Reinsurance News

Business Moves: NFP, Clear Group, and Strategic Risk Group Complete 4 Acquisitions

Three brokers – NFP, Clear Group, and Strategic Risk Group – each announced acquisitions during July. In reverse chronological order, the acquisitions are listed as follows: NFP, the New York-based insurance broker and Aon subsidiary, announced on July 24 that …

Paris Trains Hit By Sabotage Hours Before Olympics Kick Off

Trains to and from Paris, including the international Eurostar service, were hit by what authorities called a “massive attack aimed at paralyzing the network” of France’s super-fast trains just hours ahead of the inauguration ceremony of the 2024 Olympic Games. …

Aon Reports 6% Drop in Q2 Net Income, Organic Revenues Grow 6%

Aon reported net income attributable to shareholders of $524 million during the second quarter, a 6% decrease from $560 million reported in Q2 2023. Adjusted net income attributable to Aon shareholders increased 9% during Q2 2024 to $624 million, compared …

People Moves: Vantage Promotes Bellitti as Chief Pricing & Portfolio Actuary, Names BHSI’s Valzania as CUO; AXA XL Promotes Bailey as Head of Professional, Bermuda

This edition of International People Moves details appointments at Vantage Group Holdings and AXA XL. A summary of these new hires follows here. Vantage Promotes Bellitti as Chief Pricing & Portfolio Actuary, BHSI’s Valzania Named CUO Vantage Group Holdings Ltd. …

Typhoon Gaemi Lashes Southeast China After Pounding Taiwan, Flooding Philippines

Typhoon Gaemi lashed towns on China’s coastal Fujian province on Friday with heavy rains and strong winds as the most powerful storm to hit the country this year began its widely watched trek into the populous interior. The storm, which …

Devastating Wildfire Burns Down Almost 50% of Western Canadian Tourist Town

A raging wildfire has devastated the western Canadian tourist town of Jasper, potentially destroying up to 50% of structures, and firefighters were trying Thursday to save as many buildings as possible, authorities said. Jasper is in the middle of mountainous …

Russian Commodities Aren’t Safe in Red Sea as Houthis Attack

Yemen’s Houthi militants have attacked more merchant ships hauling Russian commodities than products from anywhere else in the world, highlighting the limits of safe-passage assurances that the rebels gave Moscow earlier this year. Back in January and March, the Houthis …

AM Best Puts SCOR’s Credit Ratings Under Review After L&H Reserve Announcement

AM Best has placed the credit ratings of SCOR, the Paris-based reinsurer, under review with developing implications. The ratings were placed under review as a result of SCOR’s July 15 publication of an update on its second-quarter 2024 and full-year …

People Moves: Marsh Promotes McKay as UK Advisory Leader; BHSI Launches Surety in Spain, Led by Barbero; IQUW Promotes MacDonald to Head of Property

This edition of International People Moves details appointments at Marsh, Berkshire Hathaway Specialty Insurance (BHSI) and the re/insurer IQUW. A summary of these new hires follows here. Marsh Promotes McKay as UK Advisory Leader Marsh, the insurance brokerage business of …

Explosion and Fire Hit Tequila Factory in Mexico, Killing at Least 5 Workers: Officials

An explosion and fire erupted inside a tequila factory Tuesday, killing at least five workers and injuring two others at the site in the liquor’s namesake town in Jalisco state, Mexican authorities said. The state Civil Protection agency announced late …

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