International & Reinsurance News

Home Working Likely to Remain – Even After Pandemic Ends: UK Survey

Home working is likely to remain after the pandemic finishes, according to a survey of 2,000 companies the UK, most of which are planning to allow employees greater flexibility on where and when they do their jobs. CIPD, the professional …

Egypt Seeks Out-of-Court Settlement with Owners of Huge Ship that Blocked Suez Canal

ISMAILIA, Egypt – The Suez Canal chief said Tuesday that authorities are negotiating a financial settlement with the owners of a massive vessel that blocked the crucial waterway for nearly a week. Lt. Gen. Osama Rabie told The Associated Press …

Abandoned Dutch Cargo Ship Secured by 2 Tugboats off Coast of Norway

OSLO – A Dutch cargo ship that was abandoned at sea during a storm off the coast of Norway this week has been attached to two large tugboats and is no longer at risk of running aground, local officials said …

People Moves: Khera Promoted at AXA XL; Liberty Mutual’s Slaughter Replaces Burkinshaw at Apollo; Sompo Hires Zurich’s Goddard

This wrap-up of International People Moves details recent appointments at AXA XL, Apollo Syndicate Management and Sompo International. A summary of these new hires follows. AXA XL has promoted Sundeep Khera to head of Marine, UK & Lloyd’s market, effective …

Grant Thornton Staff in UK Want to Stay Home After Pandemic, in New Blow to the Office

In a fresh blow to the office, staff at one of the UK’s largest accountancy firms have given strong support to working mostly from home after the pandemic subsides. A survey of Grant Thornton UK LLP employees found that 88% …

Arthur J. Gallagher & Co. Acquires Norway-Based Parisco AS

Arthur J. Gallagher & Co. announced the acquisition of Norway-based Parisco AS. Terms of the transaction were not disclosed. Founded in 2001, Parisco is a marine and energy broker, serving contractors, offshore service vessels, exploration and production, shipping, passenger vessels …

Indian Insurtech Policybazaar Plans Mumbai IPO

Indian online insurance platform Policybazaar is planning to file a draft prospectus as soon as next month for its Mumbai initial public offering that could raise about $500 million, according to people familiar with the matter. The SoftBank Group Corp.-backed …

European Union Institutions Targeted in Major Cyber Attack

A range of European Union institutions including the European Commission were hit by a significant cyber attack last week. A spokesperson for the commission said that a number of EU bodies “experienced an IT security incident in their IT infrastructure.” …

How SpottedRisk and TigerRisk Tamed ‘Live Cat’ COVID Event for Entertainment Insureds

In the early months of the pandemic last year, brokers just couldn’t place insurance for the entertainment industry. In late February 2020, underwriters began excluding communicable disease from all of the underlying production insurance policies. No insurer wanted to touch …

Diversity Courses Are Wasted Without Data to Track Workforce Composition: Opinion

The movement against unconscious bias training, once a key element of employers’ diversity and inclusion strategies, is growing. A controversial UK report into racial inequality has called for organizations to drop the courses entirely. It may actually be too soon …

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