Articles

Insurance

Norway's Norsk Hydro cyber attack losses estimated at $40m; AIG named as lead insurer

Norwegian aluminium and renewable energy company Norsk Hydro, which suffered a severe ransomware attack last week, has estimated that total losses from the incident have already reached 300-350 Norwegian crowns (nearly $40 million).   27 March 2019

Insurance

Italy's Generali posts increased profits, solid 2018 results beat targets

Profits at Italian insurer Generali soared in 2018 as the company exceeded all its targets for the past three years, attributed to improvements in all group business segments including life, property/casualty and asset management.   14 March 2019

Insurance

Arthur J Gallagher poaching case reveals 'hostile, unguarded' exchanges

A court case brought by Arthur J Gallagher (AJG) against the Ardonagh group, for allegedly poaching a team of employees, has highlighted “hostile, unguarded” internal exchanges at AJG.   14 March 2019

Insurance

Bermuda blacklisted by EU because of human error; David Burt accepts blame

David Burt, the Premier of Bermuda, has said he accepts responsibility for what appears to have been a case of human error when draft regulations were being edited that resulted in the country being blacklisted by the European Union this week in what he also admitted is a “setback” for Bermuda and would mean a “challenging period” for the domicile.   14 March 2019

Insurance

Sompo hires AIG talent to lead US architects and engineers insurance unit

Bermuda-based specialty re/insurer Sompo International is looking to expand its professional liability product and service offerings with the recruitment of Steven Grippo from AIG.   14 March 2019

Insurance

Hamilton acquires Lloyd's Pembroke Managing Agency, Ironshore Europe from Liberty Mutual

Bermuda-based Hamilton Insurance Group has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency platform at Lloyd’s and Ironshore Europe DAC (IEDAC).   14 March 2019

Insurance

Hub International acquires The Insurance Exchange

Hub International, a global insurance brokerage, has acquired Rockville, Maryland-based Insurance Exchange, one of the largest independent insurance agencies in the Mid-Atlantic region.   14 March 2019

Insurance

Willis Towers Watson hires power and utilities expert from Bowring Marsh

Broker Willis Towers Watson has hired Mark Hiles to assume the role of head of power and utilities for the Central and Eastern Europe, Middle East and Africa (CEEMEA) region.   14 March 2019

Insurance

AIG unit Validus Reinsurance plans expansion into Canadian reinsurance market

Bermuda-based Validus Reinsurance, a part of American International Group (AIG), is planning to establish a new reinsurance branch in Canada.   13 March 2019

Insurance

Berkshire Hathaway swoops for marine and property leaders from AXA, Zurich

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Pedro Mairos as head of marine, and Sean Mannion as head of property, for the UK and Ireland.   11 March 2019

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