Risk managers warned to expect disruption in specialty lines

Risk managers warned to expect disruption in specialty lines

Risk managers warned to expect disruption in specialty lines

European risk managers do not need to brace themselves for a dramatic overall market hardening during 1 January renewals as a result of the recent slew of hurricanes, according to Jeff Moghrabi, division president, continental Europe at Chubb. But the insurer warned that Chubb expects rates to firm for catastrophe-exposed risks. The recent natural catastrophes will inevitably put further pressure…

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer opens new hub in Casablanca

Mercer, a consultant in health, wealth and career, is expanding its francophone Africa footprint. It has plans to strengthen service to the francophone region of Africa, through its new Casablanca Financial City hub in Morocco. Mercer, a wholly owned subsidiary of Marsh & McLennan, will bolster its health business and further penetrate the African market with wealth and career solutions.…

Beazley unveils new financial lines products for Asia

Beazley unveils new financial lines products for Asia

Beazley unveils new financial lines products for Asia

Specialist insurer Beazley has launched two financial lines products for the Asia market. The first of these products is aimed at financial institutions and offers a range of policies including directors and officers liability, professional indemnity and cover for financial crime, as well as policies designed specifically for private equity and investment management firms. The second set of products are…

AIG posts $1.7bn Q3 loss on back of catastrophes and reserving

AIG posts $1.7bn Q3 loss on back of catastrophes and reserving

AIG posts $1.7bn Q3 loss on back of catastrophes and reserving

AIG has posted a larger than expected loss in the third quarter of 2017, after heavy catastrophe claims and a surprise reserving charge for commercial insurance. The New York-based insurance group posted a third-quarter net loss of $1.74bn, compared with income of $462m during the same period of 2016. The loss was the result of $3bn in catastrophe losses and…

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley has launched a new set of financial lines insurance products in the Spanish market for its commercial and financial institution clients. Beazley said the new products will be rolled out to other European markets – including Germany, France and Italy – during the next few months as it seeks to grow specialty lines outside the US. The new suite…

Charles Taylor Adjusting appoints new director in France

Charles Taylor Adjusting appoints new director in France

Charles Taylor Adjusting appoints new director in France

Loss adjuster Charles Taylor Adjusting has appointed Glyn Symonds as director of operations in France. Based at the company’s new Marseille office, Mr Symonds will oversee Charles Taylor Adjusting’s French offices. He will identify new business opportunities in France and be responsible for claims in the country and French-speaking territories. Mr Symonds joins Charles Taylor Adjusting after a 40-year career…

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

As UK multinationals report a marked drop in confidence levels in response to political and economic upheaval driven, in part, by Brexit, there are worrying signs they are taking their eyes off other pressings risks, finds a survey by CNA Harvey. The insurer believes this is leading to risk “blindspots” that are only likely to increase as UK multinationals look…

Zurich hires new commercial underwriting chief for Singapore

Zurich hires new commercial underwriting chief for Singapore

Zurich hires new commercial underwriting chief for Singapore

Global insurer Zurich has appointed Anish Jadav as its new chief underwriting officer for its commercial insurance business in Singapore. Mr Jadav will head up several specialty lines in the region including accident and health, financial, marine and surety. He will also work closely with Zurich’s head of the Asia-Pacific commercial insurance team, Chris Waterman, as the insurer looks to…

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley, the Lloyd’s-based international specialty insurance and reinsurance group, has underwritten the first policy through its new Dublin-based insurance company as it forges ahead with European expansion. The company said its new Irish operation was not created solely in reaction to Brexit. The Dublin company is the launch pad for Beazley’s ambitious European expansion plans. Beazley Insurance dac was formed…

Country and sector risk reducing in Europe: Coface

Country and sector risk reducing in Europe: Coface

Country and sector risk reducing in Europe: Coface

Political and other risks are reducing in several European countries, Coface said in its worldwide country and sector risk analysis of the past quarter. Coface said the European region, particularly its emerging countries, is benefiting from a recovery in the global economy that has led to upgrades for the risk ratings of several countries including Hungary, Finland, Cyprus and Belarus.…

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