Insurance
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Beazley expands financial lines presence in continental Europe
Beazley has appointed Lorena Segovia to the newly created role of financial lines regional manager for continental Europe. Ms Segovia…
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Intact to acquire OneBeacon to expand US specialty business
Canada’s Intact Financial Corporation is to acquire OneBeacon Insurance Group for an aggregate cash consideration of about $1.7bn. The combination…
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Liberty Mutual Insurance consolidates US specialty operations under the Ironshore brand
Liberty Mutual is combining its existing Liberty International Underwriters US business and Ironshore’s US specialty lines business under the Ironshore…
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Quebec compensation tax on insurers extended until 2022
The Quebec Economic Plan includes an extension of the compensation tax on financial institutions for another five years, designed to…
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FM Global policyholders to share $435m from surplus
Member commercial policyholders of mutual insurer FM Global will share an estimated $435m on renewed policies between 30 June 2017…
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QBE plans to move European headquarters from London due to Brexit
QBE Insurance Group has confirmed that it will move its European headquarters from London in preparation for the UK leaving…
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South Korea fines Novartis $49m amid corporate clampdown
Swiss drugmaker Novartis has been hit with a $48.8m fine by South Korean authorities for offering bribes to doctors who…
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Insurtech funding drops 64% in a year: report
Funding for insurtech startups dropped by 64% in the first quarter of 2017 compared to the previous year’s opening quarter,…
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Philippines insurers struggling to balance growth with profitability: AM Best
While the Philippines non-life insurance sector has enjoyed another solid year, with gross and net premiums both outpacing growth in…
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Fidelis to form MGA partnership with Nexus
Bermuda-based Fidelis Insurance is backing Rob Ashton, former head of specialty at Hiscox Re, to establish a partnership with Nexus,…
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Tokio Marine Kiln to offer insurance for drone testing
Japan-based speciality insurer Tokio Marine Kiln (TMK) is to provide insurance for the testing of drone-based services. The policy, which…
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StarStone appoints global head of accident and health
StarStone, the London-based global specialty insurer, has announced the appointment of Jeff Herman as global head of accident and health…
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QBE hires new CRO for Australia and NZ division
QBE Australia and New Zealand has appointed Mark Baxter as new chief risk officer (CRO), replacing Anna Gould, who takes…
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BIBA launches pollution product for environmental contractors
The British Insurance Brokers' Association (BIBA) has launched an insurance package for environmental contractors in the UK. The scheme is…
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Evan Greenberg says ‘facilitisation’ of insurance is not sustainable
Evan Greenberg, Chubb’s chairman and CEO, has further clarified his criticisms of brokers, made in his annual letter to shareholders…
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Delphine Traoré Maïdou named Africa CEO of the Year
Delphine Traoré Maïdou has won CEO of the Year for the significant contribution she made to Africa’s economy as CEO…
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Study proves link between nanoparticles and heart disease
New research into the health impact of nanoparticles finds that inhaled nanoparticles can enter the bloodstream and put healthy people…
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ILS market continues its relentless expansion despite lower returns, says Willis Towers Watson Securities
Non-life insurance-linked securities (ILS) capital has continued to grow and is “firing on all cylinders in early 2017”, according to…
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Aon completes $4.8bn sale of benefits unit to Blackstone
Aon has completed the sale of its benefits administration and HR BPO platform to private equity funds affiliated with Blackstone.…
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Lloyd’s market agrees delegated authority framework
The Lloyd’s Market Association (LMA) and the UK’s Managing General Agents’ Association (MGAA) have formally agreed a framework to support…