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 aggregate gross written premium of insurers in the Commonwealth of Independent States was up by more than 5% year-on-year to approximately 6.4 billion ($7.6 billion) in the first quarter.
U.K.'s Prudential Regulatory Authority plans to assess its policy related to insurance-linked securities and insurance special purpose vehicles for changes as the Brexit transition proceeds, Artemis reports. The extension of the transition, which is set to run until the end of this year, will create uncertainty for ILS and reinsurance players. This could hinder getting […]
Corneille Karekezi, chief executive of Nigeria-based African Reinsurance Corp., expects the COVID-19 pandemic to negatively affect the reinsurer's business until next year, Middle East Insurance Review reported. Insurers in more mature African markets may face greater problems as event cancellation and business interruption covers are not commonly sold there, Mr. Karekezi said.
German insurers have proposed a more than €10 billion ($11.2 billion) public-private fund to help companies deal with business interruptions from future pandemics, Reuters reports citing Der Spiegel. Contributions from insurers, businesses, catastrophe bonds and governments will finance the fund.
The Society of Motor Manufacturers and Traders has said that the COVID-19 pandemic is expected to cost the U.K. car industry up to £12.5 billion ($15.4 billion) in revenues in April, Yahoo reported citing BBC. Only 197 premium and luxury sports vehicles rolled off factory lines during the month, compared with the pre-pandemic level of […]
Turkish steel producer Koc Metalurji AS has extended the suspension of operations at its plant in the city of Osmaniye for another month and will not produce crude steel in June, Steel Orbis reports. The steelmaker halted its crude steel production on April 7 due to the COVID-19 pandemic.
Brazilian securities regulator has launched investigations into reinsurer IRB Brasil Resseguros SA for potential liquidity issues, Reuters reported. One of the probes will focus on an 8% drop in IRB's shares on Feb. 3, and the other will look into the reinsurer's financial statements, taking into consideration potential problems cited by asset manager Squadra Investments, […]