Lloyd’s set to announce Brussels or Luxembourg as new EU subsidiary Wednesday

Lloyd’s set to announce Brussels or Luxembourg as new EU subsidiary Wednesday

Lloyd’s set to announce Brussels or Luxembourg as new EU subsidiary Wednesday

Lloyd’s is set to choose between Brussels and Luxembourg for its new EU subsidiary and will announce its decision tomorrow, according to Reuters. A Lloyd’s spokesperson told Reuters that the market will make its decision public on Wednesday, after its council meets. This is the same day that the UK will trigger Article 50 of the Lisbon Treaty, which will…

Insured global disaster losses rise 42% in 2016

Insured global disaster losses rise 42% in 2016

Insured global disaster losses rise 42% in 2016

Insured losses from global disasters increased by 42% in 2016 to $54bn from $38bn, according to Swiss Re Institute’s sigma report. Although in line with the ten-year average, the bill was the highest annual total since 2012, driven largely by natural catastrophe losses from earthquakes, storms, floods and wildfires. Total economic losses from natural catastrophes and man-made events in 2016…

Decree on Dutch insurance premium tax issued

Decree on Dutch insurance premium tax issued

Decree on Dutch insurance premium tax issued

A new decree on insurance premium tax (IPT) in the Netherlands has been issued, clarifying and changing certain aspects of Dutch IPT, according to FiscalReps. The decree revises and clarifies various definitions with regards to the IPT exemption available for the insurance of commercial seagoing vessels, specifically in relation to insurance of certain inland vessels, contracts for certain mortgage interest…

Business votes digital risks as top three disruption threats

Business votes digital risks as top three disruption threats

Business votes digital risks as top three disruption threats

Digital risks rank as the top three interruption threats in a recent survey of global businesses, undertaken by the Business Continuity Institute (BCI). Cyber attacks emerged as the greatest perceived threat, with 88% of businesses concerned. This was followed by data breach in second place and IT/telecom outages in third. The results are from the BCI’s Horizon Scan Report, published…

Storm Egon losses to top €200m

Storm Egon losses to top €200m

Storm Egon losses to top €200m

Storm Egon, which hit parts of France and Germany last month, is estimated to cost insurers €212m, according to data from Zurich-based PERILS. The insurance industry loss database firm said the windstorm is the first to break the €200m mark for two years. The storm brought high winds, heavy rain and snowfall to northern and central France and central and…

MAXIS Global Benefits Network opens HQ in London

MAXIS Global Benefits Network opens HQ in London

MAXIS Global Benefits Network opens HQ in London

MAXIS Global Benefits Network (MAXIS GBN) has opened its head office in London to offer employee benefits programmes to multinationals. MAXIS GBN is an international joint venture between MetLife and AXA. The company said the new headquarters is part of a major investment programme in staff and technology and will be supported by refreshed branding and marketing. It will expand…

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

The rise of populism in Europe, uncertainties around Brexit and US President Donald Trump’s protectionist policies are some of the main threats to the global economy in 2017, according to credit insurer Coface. However, the firm predicts improved global growth in 2017 and, for the first time since mid-2015, has awarded more country risk upgrades than downgrades. In a global…

Business Interruption tops Allianz’ 2017 risk poll

Business Interruption tops Allianz’ 2017 risk poll

Business Interruption tops Allianz’ 2017 risk poll

Risk managers are “bracing for a year of uncertainty”, according to the Allianz Risk Barometer 2017 that lists the top three risks facing corporates across the world as business interruption, market developments-volatility and cyber. Business interruption retains its position as the number one business risk globally for the fifth consecutive year, finds the annual survey of over 1,200 risk experts.…

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance buyers saw further price reductions at the January 2017 renewal, although the rate of reductions slowed, according to brokers. Willis Re said that many insurers managed to achieve improved terms when buying reinsurance programmes at the January renewal. Sizeable reductions were obtained on international business, although there was more stability in the US. “While there are signs that reinsurers…

Luxembourg looking at cell legislation possibilities

Luxembourg looking at cell legislation possibilities

Luxembourg looking at cell legislation possibilities

Luxembourg is believed to be looking at the potential for cell captive legislation, according to the recent Captive Survey 2016 from International Programme News (‘A New Dawn for Captives’). Currently there is no cell captive legislation in the domicile, but given the interest in the concept and the success of cell captives elsewhere, Luxembourg may not be able to ignore…

1 2 3 10