Swiss bank Credit Suisse has prepared its first insurance claims on losses stemming from its $10 billion of funds tied to collapsed finance group Greensill Capital, the Financial Times reported on Wednesday. Credit Suisse is attempting to recoup billions of …
Global insurance broker Arthur J. Gallagher & Co. has acquired Markham, Ontario-based Excess Underwriting Co., a property/casualty managing general agency (MGA) and Lloyd’s broker serving insurance brokers and their clients across Canada. Terms of the transaction were not disclosed. Excess …
The COVID-19 crisis reduced overall global macro resilience – or the ability of societies to absorb shocks – by 18% in 2020 from 2019, according to a sigma report published by Swiss Re Institute. At the same time, the report …
Lockton Re, the reinsurance business of the world’s largest privately held independent insurance broker, announced the launch of its Bermuda office Lockton Re (Bermuda) Ltd., which will be led by Jonathan (Jonty) Davies as CEO. Davies joins from Aon Reinsurance …
Accounting firm PwC said on Tuesday it would invest $12 billion over five years to create 100,000 new jobs aimed at helping its clients grapple with climate and diversity reporting and also in artificial intelligence, as part of its new …
Britain’s finance ministry called on the European Union to open talks on financial services, after the London Stock Exchange on Tuesday urged the bloc to avoid protectionism. Britain left the EU in December, largely cutting off the City of London’s …
This wrap-up of international People Moves details recent appointments at reinsurance brokers Guy Carpenter & Co. and Lockton Re and insurer Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Guy Carpenter & Co., the reinsurance …
Verlingue, the Adelaïde Group’s insurance brokerage subsidiary, is consolidating its brand in Switzerland and Portugal. After the successful launch of the brand in the United Kingdom in December 2019, the broker’s Swiss and Portuguese subsidiaries now have officially adopted the …
The French utility that partly owns a nuclear power plant near Hong Kong is seeking more information on a gas buildup in a reactor, even as its Chinese partner insists the facility is operating safely. Electricite de France SA, which …
The world’s biggest developer of offshore wind farms has come up with a unique solution to a potentially expensive problem. Denmark’s Orsted A/S is working on a plan to send divers to the sea floor to place a cover over …
