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.
The International Underwriting Association of London and the U.K.s Department for Levelling Up, Housing and Communities have created a new insurance clause that could accelerate the removal of unsafe cladding from the buildings.
Lebanon-based reinsurer Arab Reinsurance Co. SAL reported an underwriting profit for the first time in eight years in 2021 after years of underwriting losses and marginal operating performance.
Egyptian insurers expect the European reinsurers to increase premium rates in the upcoming January 2023 renewal season, as inflation and increased claims costs bites underwriters.
U.S.-based Fitch Ratings Inc. said that natural catastrophe losses are expected to exceed the French nonlife insurers annual budgets this year despite reinsurance payouts from state-owned reinsurer Caisse Centrale de Reassurance SA.
Bermuda-based insurer Sompo International Holdings Ltd. has sold its run-off business, Endurance at Lloyds to U.K.-based legacy and run-off insurance company RiverStone International.
Ukrainian insurer Cjsc Vuso Insurance Co. has completed its acquisition of local counterpart Aska Ukrainian Insurance Cjsc.
Moldovas National Financial Market Commission said the local insurance market grew 35% year-on-year to 1.2 billion Moldovan lei ($62 million) in the first half of the year, driven by nonlife insurance business.
The Gibraltar government said the hull of the Tuvalu-flagged OS 35 bulk carrier beached off Catalan Bay has suffered damage after a collision with an LNG carrier, threatening to create a major oil spill that could destroy beaches and marine life.
Analysts at Keefe, Bruyette & Woods Inc. said that inflation has continued to erode European reinsurers reserve cushions over the past few years.
South Africa-based insurer Old Mutual Ltd.s operating profit increased 87% year-on-year to approximately 4 billion South African rand ($243 million) in the first half of the year, as the impacts of COVID-19 ebbed and operations improved.
S&P Global Ratings Inc. expects Lloyds of London to report strong underwriting performance between 2022 and 2024, continuing the momentum from 2021 when the insurance marketplace posted its first underwriting profit in five years.
Thousands of pubs across the U.K are on the cusp of shutting down in the wake of surging energy costs.
Swedish telecommunications firm Telefonaktiebolaget LM Ericsson and Finnish mobile company Nokia Corp. are the latest western technology companies to announce plans to exit Russia completely.
Data from the Estonian National Statistics Board said that local insurers aggregate gross written premium increased 11.5% year-on-year to approximately 269 million ($268 million) in the first half of the year.