International & Reinsurance News

UK’s M&A Watchdog Emerges from EU’s Shadow with Massive New Powers

The UK’s parting of the ways from the European Union means that an obscure 7-year-old watchdog is about to gain massive new powers over corporate mergers. Itself the product of a merger of two failing regulators, the Competition and Markets …

Brexit Ends Britons’ Right to Live and Work in EU – And Travel Insurance Is Essential

LONDON (AP) – So far, the large majority of British and EU citizens have not felt the realities of Brexit. Though the UK left the European Union on Jan. 31, it follows the bloc’s rules until the end of this …

European Freight Forwarders Reject UK Deliveries on Fears of Post-Brexit Border Chaos

European freight forwarders are rejecting contracts to take loads into the UK due to fears the chaos at Dover could be repeated post-Brexit. Transporeon, a German software company that monitors real-time data on freight traffic and rates for more than …

Russia Expedites Work on Nord Stream 2 Gas Pipeline Before U.S. Tightens Sanctions

Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany. Construction of the 1,230-kilometer (764-mile) pipeline reached a milestone on Monday with …

Rescuers Race to Find Survivors After Croatia’s Worst Earthquake in 140 Years

Rescuers raced to search for survivors amid strong aftershocks after Croatia’s worst earthquake in 140 years killed seven people and devastated cities and towns in one of the nation’s poorest regions. The 6.3-magnitude tremor on Tuesday damaged most of the …

UK Insurer Admiral Sells Price Comparison Unit to Zoopla in $685 Million Deal

UK home and car insurer Admiral Group Plc agreed to sell its price-comparison unit to the owner of property portal Zoopla in a transaction valued at 508 million pounds ($685 million). Admiral will get about 450 million pounds in the …

Cross-Border Workers in Gibraltar to Retain Free Movement with Spain After Brexit

MADRID – Cross-border workers who commute between Gibraltar and Spain will be exempt from border controls after Brexit even if no agreement on free movement is reached with Britain, Spanish Foreign Minister Arancha Gonzalez Laya said on Monday. Madrid and …

Papadopoulo Promoted to President, Chief Underwriting Officer of Arch Capital Group

Arch Capital Group Ltd. (ACGL) announced that Nicolas Papadopoulo will be promoted to the position of president and chief underwriting officer, effective Jan. 1, 2021. Papadopoulo joined Arch in 2001 and currently serves as chairman and CEO of Arch Worldwide …

Cyber Attacks Cost Russian Companies and Citizens $49B in 2020: Sberbank

MOSCOW – Cyber attacks have cost Russian companies and citizens up to 3.6 trillion roubles ($49 billion) this year, the country’s largest lender Sberbank said. Russia has encouraged its citizens to switch to bank cards and limit cash use to …

Insurance Journal’s Most Noteworthy Topics of 2020: International

COVID-19 and mergers and acquistions were just two of noteworthy topics of 2020 covered by the International section of Insurance Journal. Other notable topics included business moves — from startups and existing companies — and natural and manmade catastrophes. We …

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