International News

Hub International Buys Canada Employee Benefit Consultant, W.R. Carey Corp.

Hub International Ltd., a Chicago-based insurance broker, announced it has acquired the assets of W.R. Carey Corp. Terms of the transaction were not disclosed. Located in Winnipeg, Manitoba, Canada, Carey Corp. is an independent employee benefits consulting firm providing a …

Typhoon Hagibis to Cost Japan’s Economy $10B, with Insured Losses in Billions: Aon

Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe report. The storm made landfall in Japan’s Iza Peninsula …

Investors React Positively to Argo CEO’s Exit, Despite Q3 Net Loss

The day after Argo Group International Holdings announced CEO Mark Watson III was retiring “immediately,” investors seemed ecstatic, driving the company’s stock price up 5.6 percent on Nov. 6. Watson’s departure as CEO is a good thing for the bigger …

AM Best Reviews Argo Group’s Ratings in Reaction to SEC Probe, Watson Exit

AM Best has placed the credit ratings of Argo Group International Holdings Ltd. and its subsidiaries under review with negative implications. These actions are a reaction to the sudden departure of Mark E. Watson III, Argo’s chief executive officer, but …

VIBE Syndicate 5768 to Be Placed into Solvent Run-off

The board of VIBE Syndicate Management announced, effective Dec. 31, 2019, its Syndicate 5678 at Lloyd’s will be placed into a planned run-off. “It was with considerable regret that our board reached the conclusion that the business does not have …

Lloyd’s to Create Single Governing Body, Merging Council and Franchise Board

Re/insurance market Lloyd’s announced its decision to merge the Council of Lloyd’s and the Franchise Board, effective from June 1, 2020, after receiving widespread support from across the market. The news follows five months of consultation across the Lloyd’s market, …

Aon’s Turner Appointed Chairman of Ed Bermuda

Ed, the reinsurance, wholesale and specialty broker, announced it has appointed John Turner as chairman of Ed Bermuda. In this newly created role, Turner will “provide hands-on support to realize the potential of the recently formed operation” in Bermuda. He …

Aviva U.K. Unit Dismisses Fears that ESG Investing Hampers Financial Returns

A major U.K. institutional investor has dismissed a commonly-held fear of ESG investing — that it hampers financial returns. Aviva UK Life, part of Aviva Plc, sees environmental, social and governance considerations as a central pillar of its risk and …

Legacy Specialist Compre Buys 2nd Portfolio from Belgium’s AG Insurance

Compre, the London-based independent re/insurance legacy specialist, announced it has signed agreements to transfer an inwards reinsurance portfolio from AG Insurance SA for an undisclosed sum. The Belgian insurer’s portfolio comprises business in run-off across a range of lines and …

French Search Teams Find Fragments of Airbus Engine that Exploded in Flight

French volunteer search teams have found fragments from an engine that exploded in mid-air over eastern France in July, officials said on Wednesday. The discovery came in an unprecedented search operation involving 150 members of the public after French air …

International News Archives by Month