HDI Global opens Bern office

HDI Global opens Bern office

HDI Global opens Bern office

HDI Global has opened a third branch office in Switzerland. The industrial insurance company said its new Bern office is part of plans for international growth targeting key business regions. Hans Mazenauer, manager of HDI Global SE’s Swiss branch office, said: “Bern is Federal City and also the centre of one of Switzerland’s most important economic regions. In future, this…

Liability cat models could reduce exclusions

Liability cat models could reduce exclusions

Liability cat models could reduce exclusions

The development of forward-looking liability models should result in broader cover with fewer exclusions, according to cat modelling firm Praedicat. Robert Reville, CEO of Praedicat, said disruptive technology is emerging with increasing frequency. Innovative new products, materials or medicine come with inherent risk, and the full consequences of that innovation are not always known during a product’s life cycle, he…

Swiss Re Corporate Solutions opens new UK regional office

Swiss Re Corporate Solutions opens new UK regional office

Swiss Re Corporate Solutions opens new UK regional office

Swiss Re Corporate Solutions has opened an office in Manchester to strengthen its regional presence in the UK commercial insurance market. The office will be a regional hub for the company’s commercial insurance business in northern England and the Midlands. Shelley Wright has joined Swiss Re Corporate Solutions from loss adjuster Lorega to head up the new unit, which will…

Uncertainty to continue for insurers exposed to UK liability business

Uncertainty to continue for insurers exposed to UK liability business

Uncertainty to continue for insurers exposed to UK liability business

Insurers exposed to UK liability business continue to face uncertainties over claims levels, as a result of the change to the personal injury discount rate in the UK, according to AM Best, and a period of instability is set to continue for the sector. Insurers have already reported sizeable one-off reserve charges in recent results, in the wake of the…

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates fall for 16th quarter, but pace of decline slows

Global insurance rates have now fallen every quarter for the past four years, but the rate of decline slowed for the fifth consecutive quarter, finds Marsh’s Global Insurance Market Index. In continental Europe, however, rates fell slightly more in the first quarter of 2017 than Q4 of last year, and in the UK the rate of decline was static. The…

Allied World sets up UK commercial unit

Allied World sets up UK commercial unit

Allied World sets up UK commercial unit

Allied World Assurance Company has launched a new division to house its UK commercial business. The new unit will be headed up by Darren Rowe, who joins Allied World from Arthur J Gallagher where he worked as clients and markets director. Julian James, president of global markets for Allied World, said: “Our clients tell us they need simple, affordable and…

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

Nat cat expert Dr Robert Muir-Wood, chief research officer at RMS, has questioned the metrics behind the Sendai Framework that is used to measure progress on managing natural disasters around the world. With the United Nations (UN) conference on disaster risk reduction starting today, Dr Muir-Wood said important targets set against the Sendai Framework could undermine evidence presented by UN…

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re makes key appointments in Asia

Swiss Re has hired a number of senior executives to head up its new property and casualty reinsurance underwriting hub in Singapore, while its corporate insurance practice – Swiss Re Corporate Solutions (SRCS) – has made two senior appointments. Jonathan Rake will become SRCS chief executive for Asia-Pacific, taking over from Fred Kleiterp who has been appointed chief executive for…

AM Best restores AIG ratings

AM Best restores AIG ratings

AM Best restores AIG ratings

Rating agency AM Best has removed AIG’s ‘under review’ status, which has been in place with negative implications since the group announced further deterioration in its reserves for US long-tail liabilities in January. AM Best said all credit ratings and financial strength ratings have been affirmed as stable and without change following its review of measures put in place by…

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty launches casualty coverages in UK and southern Europe

Berkshire Hathaway Specialty Insurance (BHSI) is introducing public and products liability insurance in the UK, Ireland and southern Europe, and employer’s liability insurance in the UK and Ireland. BHSI added that, along with local casualty coverage in the UK and southern Europe, it will provide multinational programmes and underwrite certain targeted trades via coverholders. BHSI has appointed Martin Leeks as…

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