Beazley targets European growth as it creates Dublin-based insurer

Beazley targets European growth as it creates Dublin-based insurer

Beazley targets European growth as it creates Dublin-based insurer

Beazley is converting its existing Dublin-based reinsurance company into an insurance operation after receiving regulatory approval from Irish regulator, the Central Bank of Ireland. Beazley said under the renamed Beazley Insurance dac it will underwrite non-life insurance throughout the EU in addition to its Lloyd’s operations, which will continue to write EU business through Lloyd’s’ proposed insurance company in Brussels,…

June’s catastrophe losses reach $5bn with hefty insurance bill in US

June’s catastrophe losses reach $5bn with hefty insurance bill in US

June’s catastrophe losses reach $5bn with hefty insurance bill in US

Natural catastrophes recorded global economic losses of more than $5bn in June, according to Aon Benfield’s Impact Forecasting in its latest Global Catastrophe Recap Report. Global economic losses were driven by weather events in the US where hail, tornadoes, winds and flash flooding caused a total economic bill of more than $3bn in the country and estimated insured losses of…

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Another “exceptional performance” in China, together with solid expansion among the emerging countries, saw global non-life premiums grow 3.7% in 2016, down from 4.2% in 2015 but more than the ten-year average growth rate of 2.0%, according to Swiss Re. The reinsurer’s latest sigma report, World insurance in 2016: the China growth engine steams ahead, reveals that premium growth in…

Diesel emissions take political centre stage in Germany

Diesel emissions take political centre stage in Germany

Diesel emissions take political centre stage in Germany

Germany’s government has called on car manufacturers to install new software in diesel engines to cut emissions in 12 million vehicles, which will likely spark a huge product recall, according to reports. Reuters said sources had confirmed that the government has held talks with the country’s motor associations to cut nitrogen oxide pollution from diesel emissions by 25%. Diesel car…

Generali opens German desk for mid-sized corporates

Generali opens German desk for mid-sized corporates

Generali opens German desk for mid-sized corporates

Generali Global Corporate & Commercial’s (GC&C) German operation has opened a German desk to specifically address the insurance risk needs of mid-sized companies. Opened in March last year, GC&C Germany said it wants to offer mid-sized companies the same opportunities to access insurance solutions as large international corporations. Hans-Peter Klebe, head of GC&C Germany, said: “In addition to international insurance…

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Hannover Re focuses on ‘careful growth’ and sensible reserving as soft market continues

Commercial Risk Europe’s Adrian Ladbury interviews Ulrich Wallin, CEO of Hannover Re, to discuss the broad range of issues currently affecting the international reinsurance market and broader risk transfer sector. He finds Mr Wallin in cautiously optimistic mood, despite the pressure being applied to the whole sector by the stubborn soft market and dwindling reserves. Mr Wallin is, however, concerned…

Unison and Steadfast unveil new broker network partnership

Unison and Steadfast unveil new broker network partnership

Unison and Steadfast unveil new broker network partnership

Australian Steadfast Group has taken a stake in German-based broker unisonBrokers AG as part of a strategic partnership agreement between the two general insurance broking networks. Under the terms of the deal, Unison said it will rebrand as unisonSteadfast. The stake was not declared, although it was said to be non-controlling. Steadfast CEO Robert Kelly and chief operating officer Samantha…

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…

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