‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

‘Balanced Book’ strategy pays dividends for HDI Global in soft market

HDI Global SE, the industrial insurance arm of German group Talanx, has reported a significant improvement in underwriting results, combined ratio and profits for 2016 despite continued soft markets and the low interest rate environment. The insurer has also promised to continue its push into international markets this year. Deputy chairman of the board of management at Talanx and CEO…

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone stability dips in 2016

Eurozone countries have reported the first dip in economic stability for three years, according to a set of 20 indicators measured by Allianz for its Euro Monitor report. The overall rating of eurozone countries, measured on a scale of one to ten, fell slightly from 6.7 points to 6.5 points in 2016. Allianz said that although the stability score is…

AXA opens seismic risk research office in Italy

AXA opens seismic risk research office in Italy

AXA opens seismic risk research office in Italy

AXA Corporate Solutions’ risk management unit, AXA Matrix Risk Consultants, has opened a new natural catastrophe research and development office in Italy. The Center of Excellence for Seismic and Tsunami Risks will be based at the Federico II University in Naples. AXA Matrix Risk Consultants said the unit will develop new products for risk assessment and mitigation of natural disasters…

Berkshire Hathaway Specialty opens new London office

Berkshire Hathaway Specialty opens new London office

Berkshire Hathaway Specialty opens new London office

Berkshire Hathaway Specialty Insurance Company (BHSI) has established a new office in London to serve brokers and customers in the UK and southern European countries, including Ireland, Spain, France and Italy. Richard Nathan has been named head of property lines; Patrick Brown as head of executive & professional liability; and Andrew Walker as head of claims. Richard Nathan was most…

Insurers count weather losses for ‘active’ January

Insurers count weather losses for ‘active’ January

Insurers count weather losses for ‘active’ January

Winter storms in both Europe and the US made January 2017 one of the most active for global natural catastrophes in recent years, according to data from Aon Benfield’s Impact Forecasting unit, on releasing its Global Catastrophe Recap report. In Europe, high winds, snow and flooding brought by Windstorm Egon in mid-January caused an estimated insured loss of more than…

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

The rise of populism in Europe, uncertainties around Brexit and US President Donald Trump’s protectionist policies are some of the main threats to the global economy in 2017, according to credit insurer Coface. However, the firm predicts improved global growth in 2017 and, for the first time since mid-2015, has awarded more country risk upgrades than downgrades. In a global…

Trump and Brexit signal ‘paradigm shift’ in political risk: Maplecroft

Trump and Brexit signal ‘paradigm shift’ in political risk: Maplecroft

Trump and Brexit signal ‘paradigm shift’ in political risk: Maplecroft

The world is entering a new era of political risk under the shadow of a Donald Trump presidency, Brexit and a more assertive China, according to a new report from global risk consultancy Verisk Maplecroft. Ahead of President-elect Donald Trump’s inauguration on Friday, Maplecroft has warned corporates to expect a period of even greater political and economic uncertainty over the…

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance prices fall further at renewal but pace of decline slows

Reinsurance buyers saw further price reductions at the January 2017 renewal, although the rate of reductions slowed, according to brokers. Willis Re said that many insurers managed to achieve improved terms when buying reinsurance programmes at the January renewal. Sizeable reductions were obtained on international business, although there was more stability in the US. “While there are signs that reinsurers…

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