International & Reinsurance News

UK Insurance Entrepreneur Banks Accuses Lawmakers of `Witch Hunt’ to Derail Brexit

Arron Banks, one of the self-described “bad boys of Brexit,” said he has no business interests in Russia and there was no evidence of a conspiracy connected to Britain’s vote to leave the European Union. At a contentious Parliament hearing …

ING, AXA Form Digital Bancassurance Partnership, Offering Cover in 6 Countries

ING and AXA announced a long term and exclusive, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform. Under the partnership, ING will provide its leading digital banking experience and AXA its expertise …

UK Electronic Retailer Dixons Carphone Hit by Major Cyber Attack

British mobile phone and electricals retailer Dixons Carphone has become the victim of a major cyber attack for the second time in three years after discovering unauthorized access to its payment card data. Shares in Dixons Carphone, which issued a …

Insurers’ Big Data Plans Could Fail if They Don’t Get Basics Right: Mair of Atticus DQPro

Executive summary: Many major insurers still rely on manual or semi-automated data quality checks, which are time consuming, costly and have a high margin for error. As a result, before they pursue advanced data projects such as artificial intelligence or …

Lloyd’s Uses Insurable Value Data to Predict France Will Win 2018 World Cup

Analyzing the collective insurable value of soccer players, Lloyd’s of London* predicts that France will be the winner of the 2018 World Cup, which will be held in Russia from June 14 to July 15, 2018. The research, which was …

Bank of Chile Hit by $10 Million Cyber Heist Using SWIFT Messaging System

Shares in the Bank of Chile were down on Monday after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country’s second-largest commercial bank said no client accounts had been impacted. The …

Malaysia Likely to Review Rules Requiring Cut in Foreign Insurance Ownership: Sources

Malaysia is likely to review a directive to foreign insurers to reduce ownership of their local units by nearly a third as finding domestic buyers for the equity stakes is proving hard, three people familiar with the matter said. The …

Allianz Eyes M&A Targets Zurich, Hartford, QBE, Argo and More After Missing Out on XL

A $94 billion financial behemoth is keeping the market on tenterhooks about its next move. Europe’s largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as deal-hungry Chief Executive Officer Oliver Baete …

XL Catlin Adds Cyber Solution to UK Casualty Insurance Offering

XL Catlin’s insurance operations in the UK announced the extension of its casualty insurance offering to include a cyber solution. The endorsement – which is designed for mid-sized and large companies that don’t require a stand-alone cyber solution – is …

Navigators Completes Acquisition of Belgian Specialty Insurer for €35M ($41.3M)

The Navigators Group Inc. has completed the acquisition of Bracht, Deckers & Mackelbert NV (BDM), a specialty underwriting agency, and its affiliated insurance company, Assurances Continentales – Continentale Verzekeringen NV (ASCO). Both companies are headquartered in Antwerp, Belgium. Stamford, Conn.-based …

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