International & Reinsurance News

Earth Continues Streak of Record-Shattering Hot Months

Earth’s more than year-long streak of record-shattering hot months kept on simmering through June, according to the European climate service Copernicus. There’s hope that the planet will soon see an end to the record-setting part of the heat streak, but …

People Moves: Grant Joins MGA Devonshire as Underwriting Manager; Generali GC&C Makes 3 Key Appointments in Mediterranean and LatAm Region

This edition of International People Moves details appointments at the MGA Devonshire Underwriting and Generali Global Corporate & Commercial (GC&C), . A summary of these new hires follows here. Grant Joins MGA Devonshire Underwriting as Underwriting Manager Devonshire Underwriting, the …

Ardonagh Advisory Acquires UK’s Rollinson Smith Insurance Brokers

Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers (RSIB), a UK community broker that operates in the Shropshire, Staffordshire, West Midlands and North Wales regions with significant reach in London as well as other areas of the country. Financial details …

Brazil Sues Syngenta for Alleged Environmental Damage

Brazil’s environmental agency IBAMA has sued Syngenta alleging the chemicals company caused “environmental damage” by producing and selling pesticides using much higher concentrations of a carcinogen than allowed under law, according to court documents seen by Reuters. In the suit …

Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers

Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …

Banks Face Record Number of UK Lawsuits as Economy Stumbles

Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down. Almost three new cases involving financial services firms were filed every day on average at …

Catastrophe Bonds Dodge Losses After Beryl Hits Jamaica

Investors in bonds intended to help Jamaica cover the costs of a natural catastrophe won’t be affected by the havoc wrought by Hurricane Beryl, even as the prime minister declares the entire Caribbean island a disaster area. As the earliest …

Corporate France Braces for New Era of Political Turmoil

France’s business elite is anxious about volatile politics, inexperienced policymakers, street protests and a possible wave of bankruptcies in the coming months, executives meeting in Provence said ahead of Sunday’s parliamentary election. Corporate leaders gathered on Friday and Saturday in …

Investors Put UK Election Winner Labour on Credibility Watch

Big investors are warming to Britain after a landslide election win for its new Labour government but remain wary of placing long term bets until Prime Minister Keir Starmer can convince them his economic growth plans are credible. Sterling GBP=D3, …

Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics

Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the …

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