International & Reinsurance News

Climate Tech Firm to Pilot Fast-Paying Flood Insurance in Africa

Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallholder farmers are …

Taiwan Military Says Hackers Sold Telecom Giant’s Data on Web

Taiwan’s military said hackers sold data stolen from the island’s biggest telecom company on the internet, the latest challenge to the democratically run island’s cybersecurity. The leaked documents that related to the military didn’t contain confidential information, the Defense Ministry …

People Moves: Fusion Specialty Appoints Harwood for APAC M&A Team; Specialty MGA Nirvana Hires García-Beltrán to Grow European Cyber SME Portfolio

This edition of International People Moves details appointments at the managing general agents Fusion Specialty and Nirvana. A summary of these new hires follows here. Fusion Specialty Appoints Harwood for M&A in Asia Pacific Fusion Specialty, a Sydney-based MGA platform …

AXIS Capital Names Becker as Chair-Elect of Board of Directors, Succeeding Smith

AXIS Capital Holdings Ltd., the Bermuda-based specialty re/insurer, announced that W. Marston (Marty) Becker will succeed Henry B. Smith as non-executive chair of its Board of Directors. Smith, who has served as chair since May of 2020, has decided to …

Companies in Ukraine See Problems Pile Up; Insurance Issues Make Matters Worse

German supermarket chain Metro and its 3,400 employees in Ukraine have worked hard to get their business back to where it was before Russia’s full-scale invasion two years ago. After a sales slump of 10.4% in 2022 – when the …

Howden Acquires Ireland’s Intersure Group

Howden, the London-based insurance intermediary group, announced it has acquired Intersure Group Ltd., trading as Intersure Group, further strengthening its ability to service the Irish insurance market, as it expands its geographical footprint across the country. Financial details of the …

Google Hit With $2.3B Lawsuit by 32 European Media Groups

BRUSSELS – Alphabet’s Google was hit with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups including Axel Springer and Schibsted on Wednesday, alleging that they had suffered losses due to the company’s practices in digital advertising. Shares of the …

Companies Walk ESG Tightrope, Under Fire From All Sides Over Disclosures

Since joining Asahi Group in 2020 as sustainability chief, Preeti Srivastav has helped the Japanese brewer make several environmental and social pledges but has not got it to disclose all its progress. Asahi said on Feb. 9 it had brought …

EU Lawmakers ‘Outraged’ After States Block Landmark ESG Law

A European Union law designed to clean up corporate supply chains has been derailed by the bloc’s biggest member states, forcing negotiators back to the drawing board on one of the most consequential pieces of ESG legislation ever attempted. The …

US, Philippines Pay Highest Economic Price for Climate-Fueled Weather

The United States and the Philippines are the countries hit hardest by climate-driven extreme weather, measured as a percentage of their economies, according to a report released Wednesday by global reinsurance giant Swiss Re. The US currently experiences the worst …

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