International & Reinsurance News

UK Struggles to Adapt to Impact of Climate Change

The UK is struggling to put in place adequate measures to deal with rising sea levels and warmer temperatures caused by pollution, the government’s independent adviser on climate matters has warned. Average land temperatures in the UK have risen by …

Paris-Based Insurtech Akur8 Raises $30 Million for International Expansion

Akur8, the Paris-based insurtech firm that automates insurance pricing, has closed a Series B funding round of $30 million, bringing its total funding to $42 million. This latest funding round will accelerate Akur8’s international expansion, with a particular emphasis on …

French Chef Seeks $1.9M from Allianz for Biz Income Losses During COVID Lockdowns

A French Michelin three-star chef is asking Allianz SE for 1.6 million euros ($1.9 million) in insurance claims for losses suffered by his restaurants during the country’s lockdowns, a person familiar with the matter said. Chef Michel Troisgros has asked …

Goldman Sachs-Backed Broker Aston Lark Buys Premier Insurance Consultants

Premier Insurance Consultants Ltd. is the latest brokerage to be snapped up by Aston Lark, the insurance broking consolidator backed by Goldman Sachs. This takes Aston Lark’s total number of acquisitions up to 15 so far in 2021. Established in …

People Moves: Howden Hires Sturani and Nanni from Aon; WTW’s Young to Head M&A at Hamilton; Ballantyne Brokers Adds 2 More Senior Roles

Howden, the London-based international insurance broker, announced that Luigi Sturani has been appointed chief executive officer, Europe, along with Enrico Nanni who joins his team as chief commercial officer, Europe, in two newly created roles for the company. The appointments …

Major Reinsurers Look to Exclude Coal from Treaty Policies, as Climate Pressure Grows

Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from bulk-buy contracts, known as …

U.S. Pet Insurer Trupanion Plans Overseas Growth, Hiring Agria’s Wheeler to Lead Expansion

Trupanion, the Seattle-based medical insurer for cats and dogs, announced it has hired Simon Wheeler as its executive vice president of International Business. A 30-year veteran of the animal health industry, Wheeler will join Trupanion in October from Swedish-based Agria …

Court Orders IKEA to Pay $1.2M Fine for Spying on French Employees

PARIS – A French court on Tuesday ordered IKEA to pay a 1 million euro ($1.2 million) fine for spying on its French staff, after the world’s biggest furniture retailer was found guilty of improperly gathering and storing data on …

Investigation into Collapse of Mexico City Metro Rail Line Blames Structural Fault

MEXICO CITY – Preliminary findings of an independent investigation into the deadly collapse of a Mexico City metro rail line last month showed the accident was caused by a structural fault, a senior city official said on Wednesday. Jesus Esteva, …

U.S. Justice Department Files Suit to Block Aon’s Purchase of Willis Towers Watson

Aon’s proposed $30 billion acquisition of Willis Towers Watson has hit a major roadblock, with the U.S. Department of Justice suing to block the deal. The DOJ’s civil antitrust lawsuit argues that the merger, which would bring together two of …

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