International News

Von Bomhard Likely to Return to Munich Re – This Time as Board Chairman

Nikolaus von Bomhard, who retired as CEO of Munich Re in April 2017, is likely to return to the German reinsurer as chairman of the supervisory board. This week, Munich Re’s nomination committee recommended to the full supervisory board that …

Everest Re and Argo Report Net Catastrophe Loss Estimates for Q3 2018

Everest Re Group Ltd. and Argo Group International Holdings Ltd. announced their preliminary pre-tax catastrophe loss estimates for the third quarter, ended Sept. 30, 2018. Bermuda-based Everest Re’s estimated catastrophe loss was $240 million, net of reinsurance. The estimate includes …

Chubb Bermuda Names Gonsalves Division President, Succeeding Clabby

Chubb has appointed Judy Gonsalves vice president of Chubb Group and division president of Bermuda. In this capacity, she has executive operating responsibility for the Bermuda-based commercial property and casualty (P/C) insurance business that writes high-limit excess liability, property, directors …

Danish Insurer Qudos Ceases Underwriting, Pending Restructuring

Copenhagen-based Qudos Insurance will cease underwriting new business with immediate effect, pending a restructuring of the business, announced parent company New Nordic Advisors. New Nordic said it aims to re-launch the underwriting platform following a comprehensive audit. The restructuring project …

Can Go-Slow Brexit Breathe New Life into Flagging Divorce Talks?

The U.K. and the European Union are inching towards a plan that could help unblock Brexit negotiations and clear the path to a deal, raising hopes of progress after months of stalemate. While the EU summit in Brussels fell far …

Mad Cow Disease Confirmed on UK Farm – First Case Since 2015

Mad cow disease has been found on a U.K. farm for the first time since 2015, raising concern that some countries may move to limit imports of British beef. The disease, also known as bovine spongiform encephalopathy or BSE, was …

Aon Forms New Ventures Group, Led by Chief Innovation Officer Goland

Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an …

The Changing Risk and Liability Landscape: New Tech, New Loss Scenarios

Advancements in technology are changing the risk landscape irrevocably and driving potential big changes in liability, and other insurance, claims activity. The opportunities for business from new technologies such as autonomous machines, artificial intelligenceI, smart factories and digitalized supply chains …

Update: Liberty Mutual Conducts Strategic Review of Pembroke Managing Agency

Liberty Mutual Insurance announced it is undertaking a strategic review of its London-based Pembroke Managing Agency Ltd., acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser during the process. A …

UK’s May Eyes Extension of Brexit Transition Period to Unlock Impasse with EU

British Prime Minister Theresa May signaled on Thursday she would consider extending a so-called transition period “for a matter of months” after Britain leaves the European Union, a move her critics say is a betrayal of Brexit. Less than six …

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