HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

Germany-based international industrial insurance group HDI Global plans to offer its cyber insurance solutions for corporate and mid-market customers in 14 countries by the end of this year, after successfully launching into the German-speaking markets in 2013. Last year, the group launched its cyber activities in France, the Netherlands, Belgium, Australia and the UK. Most recently it pushed into Japan…

Markel chooses Germany for post Brexit subsidiary

Markel chooses Germany for post Brexit subsidiary

Markel chooses Germany for post Brexit subsidiary

Markel Corporation announced this morning that it will establish a new German insurance company in direct response to the UK’s decision to exit the European Union and ensure it can continue to serve European clients post Brexit. The insurer said it has already spoken to the German financial regulator BaFin and will now apply for regulatory approval. Markel International writes…

Strong overseas growth for Talanx in first quarter

Strong overseas growth for Talanx in first quarter

Strong overseas growth for Talanx in first quarter

The Talanx Group has reported a positive performance from all its divisions in the first quarter of 2017, with strong growth in overseas markets, particularly the US and France for industrial lines, and Europe and Latin America for retail business. Group net income increased by 7.2% to €238m, with the biggest contributor to this growth being industrial lines. Gross written…

European political risk subsides as populism hits a ceiling

European political risk subsides as populism hits a ceiling

European political risk subsides as populism hits a ceiling

The defeat of populist parties in recent French and Dutch elections has gone some way to alleviating concerns for the political stability of the EU. But companies in the region will continue to face heightened political risk, according to political risk consultants. Emmanuel Macron’s success in the first round of the French elections, just weeks after Europhile liberal candidate Mark…

Fed fines Deutsche Bank $156.6m for FX and other violations

Fed fines Deutsche Bank $156.6m for FX and other violations

Fed fines Deutsche Bank $156.6m for FX and other violations

The US Federal Reserve has fined Deutsche Bank $156.6m in civil penalties for foreign exchange (FX) misdemeanours and failing to adhere to speculative investment Volcker rules. Deutsche Bank will have to pay $136.6m for “unsafe and unsound” practices in the FX markets and an additional $19.7m for failing to maintain an adequate Volcker rule compliance programme prior to 30 March…

Wordwide Broker Network adds two new European members

Wordwide Broker Network adds two new European members

Wordwide Broker Network adds two new European members

Worldwide Broker Network (WBN) has added two new European members from Germany and Croatia to its broking and employee benefit network. Germany-based human resources management consulting company Lurse AG joins WBN with more than 25 years’ experience in human resource systems and processes across various sectors. The firm has in excess of 60 employees that provide consulting services in areas…

HDI Global maintaining a smooth line

HDI Global maintaining a smooth line

HDI Global maintaining a smooth line

Recent results from the international insurance and reinsurance market, not least AIG, have shown once again how difficult it can be to maintain a steady and consistent growth path in this tough operating environment. HDI Global, however, appears to achieve exactly what serious long-term customers and investors seek from their risk carriers. HDI’s Dr Christian Hinsch told Commercial Risk Europe…

Generali in for the long run

Generali in for the long run

Generali in for the long run

The international corporate insurance market is becoming increasingly difficult as carriers struggle to balance stubbornly competitive underwriting conditions and low investment returns. There are few signs of this changing, so the recent process of consolidation should continue. This will leave risk managers with a smaller number of carriers willing and able to lead their primary programmes and deliver service on…

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Recent European terror attacks don’t signal increased risk, say analysts

Despite recent attacks in the UK, Sweden and Germany, terrorism risk is not increasing in Europe, according to political risk analysts. However, preventing attacks in crowded public places, especially those that use everyday items like vehicles and kitchen knives, will be a challenge for governments and business alike, they say. On Tuesday, a suspected terrorist bomb attack against the Borussia…

Storm Thomas losses to top €200m: PERILS

Storm Thomas losses to top €200m: PERILS

Storm Thomas losses to top €200m: PERILS

PERILS estimates losses of €213m from the extra-tropical cyclone Thomas, also known as storm Doris, which affected parts of the UK, the Netherlands, Belgium and Germany during two days in February. The initial estimate covers property damage caused by the storms, mainly from claims in the UK and Germany, and is based on loss data reported by primary insurance firms.…

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