-
ESG
Beazley offers more capacity to risk managers that meet Marsh’s ESG Risk Rating
Beazley is going to grant more capacity through its Lloyd’s of London Syndicate 4321 to companies that perform well on Marsh’s ESG Risk Rating tool. Syndicate 4231 was launched in…
-
ESG
Norsk Hydro sued in the Netherlands over contamination in Brazil
Norwegian energy company Norsk Hydro is being sued in the Netherlands over allegations that its aluminium plant in Brazil polluted rivers and caused health problems for locals during a 20…
-
Legal & Regulation
UK regulator fines Ghana International Bank £5.8m for poor AML controls
The UK’s Financial Conduct Authority (FCA) has fined Ghana International Bank (GIB) £5.8m for failing financial crime controls. The FCA said the bank’s anti-money laundering and counter-terrorist financing controls were…
-
Pandemic
US casino Covid BI ruling turns against insured in favour of Zurich, AIG and Allianz
A New Jersey appeals court overturned a lower court and ruled against an Atlantic City casino and in favour of units of Zurich Insurance, AIG and Allianz in Covid-19-related business…
-
M&A
A J Gallagher buys Ireland retail broker
Arthur J Gallagher has acquired Irish firm INNOVU for an undisclosed fee. As first reported in our sister publication Business Insurance, INNOVU is a retail broker offering commercial and personal…
-
DACH
Zurich report finds risk management shortfalls exacerbated storm Bernd
Simply blaming the catastrophic impact of severe weather event Bernd that caused devastating flooding and damage of up to €50bn across western Germany and other parts of Europe on climate…
-
People Moves
GC&C and GEB merged into new French unit under Generali reshuffle
Generali has announced a significant reorganisation of its management structure that sees all its global business lines – Generali Corporate and Commercial, Generali Employee Benefits and Arte Generali – aggregated…
-
France
French insurers report €1.26bn in claims from recent storms
French insurers have incurred some €1.26bn in claims from bad weather at the start of June and in late May, according to the French federation of insurers. Bad weather, in…
-
Asia
Australian insurers to see 6% premium growth on higher rates
Higher risk pricing and claims inflation are expected to lead to a 6% growth in non-life premiums in Australia, according to S&P Global Ratings. As first reported in our sister…
-
Legal & Regulation
Glencore Energy convicted in UK for oil bribery payments
Mining firm Glencore Energy UK has been convicted on seven counts of bribery at a London court, for paying $28m in bribes to secure access to oil in several African…
-
Captives
New leadership at Lufthansa captive
Cologne-based Delvag Versicherungs-AG, the insurance arm of German airline Luftahansa, has appointed two experienced underwriters – Dennis Heinen and Markus Schepke – to succeed Guido Lenssen, who left at the…
-
ESG
EthiXbase launches supply chain compliance checks to help firms meet Germany’s new human rights law
With six months left to comply with Germany’s new human rights legislation, UK businesses with operations in the country can now check any potential breaches across their supply chain with…
-
Asia
Everest Insurance expands into Asia with Singapore office
Everest Insurance has entered the Asian market with the opening of an office in Singapore. Everest, the insurance division of Everest Re Group, has received regulatory approval from the Monetary…
-
People Moves
Argo names Bradley CEO as Rehnberg departs
Argo has appointed Thomas C Bradley as its permanent CEO to replace Kevin Rehnberg, who is leaving the firm. Bradley has been serving as Argo’s interim CEO since March as…
-
Brokers
Miller appoints head of media, TV and film
Miller has appointed Susana Bramwell to lead Miller’s expansion into media, TV and film. She will join Miller later this year and become part of the sports and entertainment business,…
-
Property
More data vital for better renewal outcome on US property risks, says Gallagher
US property underwriters are requiring more data to work on submissions and, in particular, insureds need to focus on replacement cost valuations if they are to get better renewal results,…
-
M&A
Insurance M&A down in H1
Insurance sector deal activity slowed by almost a third in the first part of 2022 but is expected to rise again in the second half of the year, according to…
-
Terrorism
Pool Re to invest in terrorism risk management solutions
Pool Re is embarking on a new chapter that will see the UK’s state-backed terrorism reinsurer modernise its reinsurance offering, invest in risk management solutions and explore options for systemic…
-
Legal & Regulation
European insurers call on EU to develop rules on third-party litigation funding
A group of leading European business associations – including Insurance Europe – have issued a joint statement that calls for the EU to develop “appropriate” rules on third-party litigation funding…
-
M&A
BELFOR cements Scandinavian position through SSG acquisition
BELFOR, a leading provider of disaster recovery services, and SSG, the Scandinavian market leader in damage restoration services, have joined forces to strengthen their customer service in Denmark, Sweden and…
