Siemens Energy’s Turbine Troubles Rattle Wind Sector July 7, 2023 By Christoph Steitz and Nina Chestney Siemens Energy’s disclosure of quality issues in its newer wind turbine models has exposed broader challenges in a sector suffering...
Generali Buys U.S. Asset Manager Conning Under Deal With Cathay Life July 7, 2023 Generali has agreed to buy Connecticut-based asset manager Conning Holdings as part of a partnership with Cathay Life, a unit...
Update: China Ends Ant Group’s Regulatory Revamp With Fine of $984M July 7, 2023 By Julie Zhu and Jane Xu Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul...
As Ukraine Grain Deadline Approaches, Pact Is Already Nearly Broken July 7, 2023 By Megan Durisin and Áine Quinn Global leaders are racing to salvage an international deal to allow Ukraine’s grain shipments by sea before it expires in...
Appetite for Cat Exposures Returns; Reinsurers Stay Disciplined in Mid-Year Renewals July 6, 2023 By L.S. Howard Capacity was more readily available during the mid-year renewals, which brokers described as “orderly,” in comparison to the turbulent January...
Specialty MGA UK Approved as Lloyd’s Coverholder July 6, 2023 Specialty MGA UK, a recently formed MGA that is focused on providing additional capacity for specialty lines of business, has...
Spanish Authorities Seek Damages From Swedish Mining Firm for Toxic Spill in 1998 July 6, 2023 By Ciaran Giles Spanish authorities are seeking 90 million euros ($98 million) in damages from a Swedish mining company for a major toxic...
Gallagher’s Pen Underwriting Acquires Norwegian MGA Fender Marine AS July 6, 2023 Arthur J. Gallagher & Co. announced that its UK-based specialist underwriting subsidiary Pen Underwriting has acquired Norwegian managing general agent...
Panama Expects to Be Removed From Financial Crime Watch List in October July 6, 2023 By Valentine Hilaire Panama expects international financial-crime watchdog FATF to remove it this October from a watch list for nations deemed to be...
UK Cybersecurity Officials Investigate Data Breach Affecting London Hospitals July 6, 2023 By Ryan Gallagher British cybersecurity officials are investigating an alleged cyberattack on a group of hospitals in London that has led to the...