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.
Russias Federal Agency for Fishery is seeking 58.7 billion Russian rubles ($800 million) from mining conglomerate MMC Norilsk Nickel PJSC for the devastating Arctic fuel spill of May 2020 that harmed aquatic bioresources.
Albert Fiatui, executive director of the Centre for International Maritime Affairs, Ghana, said that increasing pirate attacks in the Gulf of Guinea are threatening the growth and survival of West African maritime trade.
South Africas Minister of Finance Tito Mboweni said that the state-owned insurer Sasria SOC Ltd. could face up to 20 billion South African rand ($1.35 billion) in insurance claims for property damages during the recent riots.
A ransomware attack on South African ports on July 22 and the resulting disruptions have forced the state-owned ports and rail freight company Transnet SOC Ltd. to declared force majeure.
Hailstorm with unusually large tennis ball-sized hailstones pummeled northern Italy on July 27, smashing into the vehicles and bringing traffic on a major highway to a complete halt.
U.K.-based insurer Beazley PLC saw higher rates across all insurance lines in the first half of the year, especially cyber insurance driven, which was by an increase in ransomware incidents.
U.K.-based insurance broker The Ardonagh Group Ltd. has launched a European division in Dublin, Ireland, as it looks to expand in Europe.
A ransomware attack on the Greek city of Thessaloniki on July 22 forced the municipality to suspend all its services on July 23.
French insurer Covéa said its CEO James Reader has stepped down and will be replaced by Adrian Furness, who is currently chief operating officer.
South Korean firm LG Electronics Inc. expects tens of millions of dollars worth of damage from the recent looting and arson at its Durban, South Africa-based factory and warehouses.
Spain-based insurer Mapfre SAs total written premiums increased by more than 6% year-on-year in the first half of the year, with its reinsurance business recording more than 11% growth in premiums.
The government of Belgian region Wallonia said that the recent floods caused an estimated 10 billion ($11.8 billion) in damage to the country.
Ryan Woolley, chief executive of Insurance Claims Africa, said that South African insurers have not yet paid $49 billion Namibian ($4 billion) worth of short-term business interruption insurance policy claims from last year despite earning super profits during the COVID-19 pandemic.
Analysts at the Bank of America Corp. expect insured and reinsured losses triggered by the recent severe floods and June storms in Europe, especially in Germany, to drive price hikes at the January 2022 reinsurance renewals.
German reinsurer Munich Reinsurance Co. has partnered with software company Sapiens International Corp. to offer technology-enabled consultancy and services to primary commercial insurers.