US storms drive nat cat losses in active June

US storms drive nat cat losses in active June

US storms drive nat cat losses in active June

Global catastrophes made June the most active month for natural disasters this year, with insurance claims led by more than $3bn of losses from eight recorded convective storms and flash floods in the US, according to Aon’s Impact Forecasting. Large hailstones, some the size of baseballs, and winds affected parts of the Rockies, Plains, midwest, southeast and northeast in the…

Ironshore’s European business moves to sister company Liberty Specialty Markets

Ironshore’s European business moves to sister company Liberty Specialty Markets

Ironshore’s European business moves to sister company Liberty Specialty Markets

Liberty Specialty Markets (LSM) will acquire the European insurance business of Ironshore Europe following a renewal rights agreement between the two companies, which are both part of Liberty Mutual. Ironshore’s European business – which includes contingency, construction, fine art and specie, liability, marine and personal accident lines – is currently written in Cologne, Zurich and Rotterdam. These offices will no…

Audi boss arrested in Germany over diesel emission scandal

Audi boss arrested in Germany over diesel emission scandal

Audi boss arrested in Germany over diesel emission scandal

Head of car manufacturer Audi, part of the Volkswagen group, has been arrested in Germany as part of investigations into diesel emissions testing. Rupert Stadler, chief executive of Audi, is the highest-ranking VW executive to be held for questioning in Europe since it was first revealed that the car manufacturer cheated diesel emissions checks in test vehicles three years ago.…

Security risk alliance opens Paris and Frankfurt desks

Security risk alliance opens Paris and Frankfurt desks

Security risk alliance opens Paris and Frankfurt desks

Medical and security specialists International SOS and Control Risks have strengthened their collaboration with the launch of two new desks in European cities Paris and Frankfurt. The new units will be serviced in local languages and add to existing security desks in Tokyo, Seoul and Beijing established in 2012. Mick Sharp, COO of travel security at International SOS and Control…

German insurtech effort picks up pace as market gathers in Cologne and Coya raises further $30m

German insurtech effort picks up pace as market gathers in Cologne and Coya raises further $30m

German insurtech effort picks up pace as market gathers in Cologne and Coya raises further $30m

The drive by Germany to lead the insurtech revolution gained further momentum this week as more than 500 representatives of the German and international insurance industry, investors, IT specialists, startups and students gathered in Cologne for its second insurtech week. The week is organised by startup incubator and accelerator Startplatz along with InsurLab, the thinktank created to lead Germany’s insurtech…

Cologne mayor hails Newline’s decision to use city as EU base

Cologne mayor hails Newline’s decision to use city as EU base

Cologne mayor hails Newline’s decision to use city as EU base

Cologne’s Lord Mayor Henriette Reker has welcomed the decision by international specialty insurance group Newline to set up its new European Union base in the city, and believes it is further proof that Cologne will become a leading insurance hub for international insurers keen to secure access to the EU post-Brexit. Newline, the international specialty insurance and reinsurance company that…

Allianz to buy 8% stake in Africa Re

Allianz to buy 8% stake in Africa Re

Allianz to buy 8% stake in Africa Re

Allianz Group is to buy an 8% stake in Africa Re for $81m. Under the terms of the agreement, the total cash consideration for the 8% slice of Africa’s largest reinsurer would amount to $81m (or €69m). Niran Peiris, member of the board of management of Allianz SE, responsible for global insurance lines and Anglo markets, reinsurance, Middle East and…

Enterprise-wide risks demand an enterprise-wide network of friends

Enterprise-wide risks demand an enterprise-wide network of friends

Enterprise-wide risks demand an enterprise-wide network of friends

The CFO should be the best friend of a pure insurance manager, but if that individual holds a wider risk management brief they need to be close to all key functions within the organisation such as IT, legal, health and safety and HR, according to leading members of the German risk management association GVNW. In Germany, as elsewhere in Europe,…

GVNW to deliver blueprint on risk and insurance management for mid-market

GVNW to deliver blueprint on risk and insurance management for mid-market

GVNW to deliver blueprint on risk and insurance management for mid-market

German risk management association GVNW hopes to present findings of research on how mid-sized companies currently view and carry out risk and insurance management at its annual symposium in Munich this September, simultaneously delivering a best practice guide for such firms. The association revealed during last year’s annual conference in Munich that it had commissioned the University of Leipzig to…

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