Guy Carpenter study shows US insurance market at crossroads

Guy Carpenter study shows US insurance market at crossroads

Guy Carpenter study shows US insurance market at crossroads

The US property and casualty (P&C) insurance market is at a crossroads but opportunities still exist, according to a new study from Guy Carpenter & Company. The study describes the sector as a “dynamic insurance industry facing a changing economy and pressure in once-stable lines, but with opportunity for those with management skill and understanding of risk”. In the 2017…

XL Catlin to acquire minority stake in Indian insurance broker

XL Catlin to acquire minority stake in Indian insurance broker

XL Catlin to acquire minority stake in Indian insurance broker

XL Catlin is to acquire a 20% minority stake in Mahindra Insurance Brokers Ltd (MIBL), a leading insurance broker primarily serving rural and semi-urban India, subject to satisfaction of customary closing conditions by all stakeholders. MIBL is a subsidiary of Mahindra & Mahindra Financial Services and a licensed composite broker, currently valued at INR1,300 crores (about $200m). Mahindra Finance is…

New approach needed for growing political risk

New approach needed for growing political risk

New approach needed for growing political risk

Companies need to take a more structured approach to managing growing geopolitical and economic uncertainty, according to a panel debate at the Ferma Forum. Increasing nationalism and protectionism, as well as growing political volatility in Europe, are creating greater uncertainty for European businesses, according to the panellists. Carl Bildt, former prime minister of Sweden and keynote speaker at the forum,…

Liberty Specialty Markets on track with plan to double European business by 2020

Liberty Specialty Markets on track with plan to double European business by 2020

Liberty Specialty Markets on track with plan to double European business by 2020

European risk managers can expect to see more of Liberty Specialty Markets during the next three years. Its European head Kadidja Sinz told Commercial Risk Europe that the firm is forging ahead with ambitious plans to “profitably” double its premium volume in core European markets by 2020, despite the stubbornly competitive commercial and corporate insurance market. Ms Sinz also said…

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Profitable growth possible in tough market as Generali Global Corporate & Commercial

Hard work, careful selection of quality clients and resolutely charging the right price for risk are the three core principles insurers must adhere to in today’s highly competitive insurance market, according to Paolo Ribotta, head of Generali Global Corporate & Commercial (GC&C), the corporate insurance arm of the Italian insurance giant. Overall costs also have to be tightly managed and…

Market working to reduce renewal burden but no silver bullet

Market working to reduce renewal burden but no silver bullet

Market working to reduce renewal burden but no silver bullet

Insurers and brokers are sympathetic to buyers’ frustration over the annual renewal process taking up too much time and resource. They are willing to work on a better solution, but stress simple answers are hard to find. Risk managers are seeking ways to either speed up the renewal process or secure longer-term deals. But there are so many moving parts…

Advertorial: Collaboration is key for complex construction insurance programmes

Advertorial: Collaboration is key for complex construction insurance programmes

Advertorial: Collaboration is key for complex construction insurance programmes

Collaboration between risk managers,brokers and insurers working on large scale and complex construction projects is critical to avoid disputes and failure of coverage when loss events occur, according to Bernadette Hackett, global relationship leader and head of construction community at Zurich Insurance. Ms Hackett gave a co-presentation on the topic of ‘Owner or Contractor Controlled Insurances – How to get…

Willis Towers Watson names Irwin head of CEEMEA region

Willis Towers Watson names Irwin head of CEEMEA region

Willis Towers Watson names Irwin head of CEEMEA region

Willis Towers Watson has named Neil Irwin as its new leader for the central and eastern Europe, Middle East and Africa region (CEEMEA). Mr Irwin will be based in Dubai, and also take on the role of head of corporate risk and broking for the CEEMEA region. Adam Garrard, head of international at Willis Towers Watson, said: “This is an…

Willis Towers Watson appoints new Italy leader

Willis Towers Watson appoints new Italy leader

Willis Towers Watson appoints new Italy leader

Willis Towers Watson has appointed Gianmarco Tosti as its new country leader for Italy. Mr Tosti will also take on the role of head of corporate risk and broking in the country. Mr Tosti has been with Willis Towers Watson for 11 years and most recently worked as head of corporate risk and broking for central and eastern Europe, Middle…

North Koreans after African business

North Koreans after African business

North Koreans after African business

A North Korean startup business is eyeing up opportunities in Africa, with its representatives attending the AIO Reinsurance Forum in Mauritius. President of the newly created Polestar, Kim Kyong Hun, and marketing manager Han Choi Gyu, were attending the event to kickstart African business, they said. The pair were confident they would be able to offer business across a range…

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