EMEA
U.S.-based insurance broker Acrisure LLC has acquired U.K.-based specialist commercial insurance broker CRK Commercial Insurance Services Ltd.
Telecommunication companies in European countries, including France, Sweden and Germany, have raised concerns of mobile network connectivity disruptions this winter should the energy crisis in Europe lead to power cuts for telecom companies.
Data from the Polish Chamber of Insurance said that local insurers aggregate gross written premium dropped by 0.5% year-on-year to almost 7.6 billion ($7.4 billion) in the first half of the year, mostly due to the more than 8% decline in life insurance premiums.
A study by U.S.-based analytics firm LexisNexis Risk Solutions Inc. found that 71% of financial firms in the Europe, Middle East and Africa region consider geopolitical risk as the leading contributor of crime compliance costs borne by them.
The Norwegian Petroleum Safety Authority warned oil companies against unidentified drones that have been recently sighted near various Norwegian offshore oil and gas platforms, including energy company Equinor ASAs installations.
The U.K.'s Information Commissioner's Office is expected to impose a fine of £27 million ($29 million) on TikTok Inc. and TikTok Information Technologies U.K. Ltd. over the alleged violation of children's privacy protection law.
Spanish airports operator Aena SME SA said that more than 640 flights to and from Spains Canary Islands were canceled on Sept. 25 and 26 as Tropical Storm Hermine lashed the islands.
Japanese automaker Toyota Motor Corp. has decided to close its factory in Russias St. Petersburg due to logistical restrictions and resulting component shortage driven by the Ukraine-Russia war.
Spain has fined Spanish on-demand courier service provider Glovo around 79 million ($79 million) for misclassifying some workers as independent contractors.
U.S.-based insurer Berkshire Hathaway Specialty Insurance has introduced several new policies with its proprietary policy wordings in Spain.
French state-owned reinsurer Caisse Centrale de Reassurance SAs intends to sell a majority stake in its reinsurance subsidiary CCR Re to a new shareholder or a group of shareholders for 200 million ($200.3 million) by July 2023.
German insurer Allianz SE has successfully completed its acquisition of 66% stake in Jubilee Insurance Mauritius Ltd.
Charlotte Gerken, executive director for insurance supervision at the Bank of England, said the U.K.s Prudential Regulation Authority is closely examining the potential for an overconcentration of risk due to insurers overreliance on reinsurance.
According to a report by Germanys Federal Criminal Police Office, economic damage caused by organized crime groups more than doubled to $2.2 billion in the country in 2021.
A U.A.E. court has rejected Orient Insurance PJSCs bid to recoup a 1.25 billion United Arab Emirates dirhams ($340.4 million) fire insurance claim payout.
Thierry Leger, group chief underwriting officer at Swiss Reinsurance Co. Ltd., said that cyber reinsurance will become a major business line for the reinsurer at some point in near future; however, it is still taking cautious efforts to expand into this relatively new segment.
Moroccan insurer Wafa Assurance SAs net profits jumped 47% year-on-year to 554 million Moroccan dirham ($52.2 million) in the first half of the year due to improved technical results amid a decline in life insurance claims, and higher profitability of overseas subsidiaries.
U.S.-based PepsiCo Inc. has stopped making concentrates for PepsiCola, Mirinda, 7Up and Mountain Dew in Russia.
Romania-based insurer Allianz Tiriac Asigurari SAs gross written premium increased two-fold to 1.6 billion Romanian lei ($324 million) in the first half of the year.
Shareholders of Saudi Arabia-based insurers Walaa Cooperative Insurance Co. and SABB Takaful Co. have agreed for the merger of the two companies.
U.A.E.-based actuarial consultancy Badri Management Consultancy expects headwinds to continue to dampen the growth of Saudi Arabias insurance industry this year.
French carmaker Renault SA and Dutch automobile firm Stellantis NV will partly suspend production at their Spanish factories in the upcoming days due to the ongoing semiconductor chip shortage.
Jan-Olof Olsson, manager of supply preparedness at the Swedish Civil Contingencies Agency, said that the energy crunch is likely to trigger power cuts in Sweden this winter, putting businesses at risk of shutting down operations.