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INTERNATIONAL & REINSURANCE NEWS


GLOBAL COMMERCIAL INSURANCE RATES RISE 4% IN Q4, CONTINUING MODERATING TREND:
MARSH

February 3, 2023

Global commercial insurance prices increased 4% in the fourth quarter of 2022,
down from a 6% increase in Q3 and a 9% increase in Q2, which is a continuation
of a trend of moderating increases that began in Q1 2021, …


WESTFIELD COMPLETES ACQUISITION OF LLOYD’S OF LONDON SYNDICATE 1200

February 3, 2023

Westfield has completed the acquisition of Lloyd’s of London Syndicate 1200 from
Argo Group International Holdings Ltd. for about $125 million. The deal was
first announced in September 2022. Westfield said this strategic acquisition
establishes the company as a global …


AMWINS GLOBAL RISKS ACQUIRES UK BROKER ROBERTS ARMYTAGE & PARTNERS

February 3, 2023

Amwins Global Risks, the London-based international arm of global specialty
insurance broker Amwins, announced the acquisition of Roberts Armytage &
Partners (RAP), the specialist, energy and marine-focused London broker.
Financial details of the transaction were not disclosed. As the energy …


AIRBUS AND QATAR AIRWAYS SETTLE BITTER DISPUTE OVER GROUNDED A350 JETS

February 3, 2023

Airbus and Qatar Airways have settled a dispute over grounded A350 jets, the
companies said on Wednesday, averting a potentially damaging UK court trial
after a blistering 18-month feud that tore the lid off the global jet market.
The “amicable …


HACKERS OF ION TRADING ALSO HIT UK POSTAL SERVICE, CANADA HOSPITAL, U.S. LOCAL
AGENCIES

February 3, 2023

The hacking group behind a cyberattack against the software firm ION Trading UK
has recently conducted a series of breaches throughout the world, with its
victims including the UK’s postal service and local government agencies in the
US. The gang, …


CRYPTO THEFTS HIT RECORD $3.8B IN 2022 ON SURGE IN NORTH KOREA HACKING: REPORT

February 3, 2023

Thieves stole a record $3.8 billion worth of cryptocurrency in 2022 as sanctions
on North Korea drove a surge in suspected hacking by the Asian nation. Overall
crypto losses increased from $3.3 billion stolen in 2021, blockchain analysis
firm Chainalysis …


NEW ZEALAND PROVIDES NZ$700,000 IN ADDITIONAL FUNDING FOR POST-FLOOD REBUILDING

February 2, 2023

New Zealand’s government on Thursday announced NZ$700,000 ($450,000) in
additional funding to help rebuild flood-ravaged Auckland and other areas in the
upper north island as residents of the country’s second-largest city start
cleaning up. Auckland and much of New Zealand’s …


PEOPLE MOVES: AGCS TAPS CHAUCER’S GRAHAM FOR MARINE TEAM; BHSI NAMES DE WILDE
HEAD OF PROPERTY, SWITZERLAND; HDI GLOBAL SPECIALTY PROMOTES SPAFFORD IN CANADA
BRANCH

February 2, 2023

This edition of International People Moves details appointments at Allianz
Global Corporate & Specialty (AGCS); Berkshire Hathaway Specialty Insurance
(BHSI), and HDI Global Specialty. A summary of these new hires follows here.
AGCS Taps Chaucer’s Graham for Marine Team in …


SWISS RE REVAMPS STRUCTURE BY SPLITTING REINSURANCE BIZ, CREATING CLIENT
BUSINESS UNIT

February 2, 2023

Swiss Re announced plans to streamline its organizational structure by splitting
its current Reinsurance Business Unit into P&C Re and L&H Re, while creating a
new business unit called Global Clients and Solutions. Swiss Re Corporate
Solutions will continue as …


THOUSANDS OF NIGERIANS JOIN LANDMARK LAWSUIT AGAINST SHELL IN UK

February 2, 2023

More than 13,500 Nigerians joined their communities in a lawsuit against Shell
Plc before a landmark UK trial that could have far-reaching implications for
parent-company responsibility over the actions of foreign subsidiaries. The
residents of the crude-rich Niger Delta are …

 
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