Cat-hit lines to see up to 25% rate increases: Talanx

Cat-hit lines to see up to 25% rate increases: Talanx

Cat-hit lines to see up to 25% rate increases: Talanx

Natural catastrophes cost Talanx Group €1bn in the first nine months of this year, mainly affecting its industrial lines business written through HDI Global and P&C reinsurance under Hannover Re, as it reported net income of €444m for the period, from a €636m nine-month figure in 2016. Talanx said it expects to close the year with a revised net income…

Political risk: Insights for your firm

Political risk: Insights for your firm

Political risk: Insights for your firm

Today, as many businesses wonder how to thrive amid political uncertainty, companies with experience in emerging markets can offer insights to help with the changing business environment. One common solution chosen by companies operating in emerging markets is political risk insurance. Political risk insurance both helps protect businesses against the risk of losing investments and helps companies secure funds for…

ATI launches services in Zimbabwe

ATI launches services in Zimbabwe

ATI launches services in Zimbabwe

Credit insurer African Trade Insurance Agency (ATI) has launched its services in Zimbabwe, after signing an agreement with the central government. ATI’s chief executive officer, George Otieno, said ATI is committed to providing solutions that could help unlock much-needed investments into the country. Zimbabwe became a member of ATI in late 2016 and has since benefited from more than $300m…

Burundian constitutional plans increasing civil war risk

Burundian constitutional plans increasing civil war risk

Burundian constitutional plans increasing civil war risk

Constitutional changes proposed in Burundi would signal the effective end of cross-party and ethnic power-sharing in Burundi, established by the Arusha Agreement and the 2005 constitution. This is likely to drive a new wave of defections from the political opposition and Burundian military to the armed opposition, warned Jordan Anderson, analyst, country risk, IHS Markit. Challenges to these revisions, he…

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Specialty insurer Ironshore has expanded its political risk business lines in Asia-Pacific, by increasing capacity for its Singapore-based political risk and trade credit unit from $15m to $50m and hiring a new underwriter. Sam Lim joins from AIG and will report to Boo Hui Yun, managing director of Ironshore Asia-Pacific. The extra capacity is a result of greater concern about…

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

Confidence down at UK multinationals as risk ‘blindspots’ surface

As UK multinationals report a marked drop in confidence levels in response to political and economic upheaval driven, in part, by Brexit, there are worrying signs they are taking their eyes off other pressings risks, finds a survey by CNA Harvey. The insurer believes this is leading to risk “blindspots” that are only likely to increase as UK multinationals look…

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,…

Everest Re launches Dublin-based non-life insurer

Everest Re launches Dublin-based non-life insurer

Everest Re launches Dublin-based non-life insurer

Everest Re Group has established a non-life insurer in Ireland, based in Dublin, to write a range of specialty commercial insurance products. The new non-life insurance subsidiary, Everest Insurance Ireland, has been granted authorisation in principle by the Central Bank of Ireland to operate as an authorised non-life insurer in Ireland. Everest Re said the new subsidiary continues the expansion…

Political change in US and Europe has ‘blindsided’ risk managers: survey

Political change in US and Europe has ‘blindsided’ risk managers: survey

Political change in US and Europe has ‘blindsided’ risk managers: survey

Unexpected political movements in Europe and the US during 2017 have “blindsided” global companies, with nine out of ten executives reporting an increase in geopolitical risks in the past five years, according to a survey from Willis Towers Watson and Oxford Analytica. The survey found that unpredictable political change in the US and Europe has rocked the business world and…

XL Catlin Iberia expands into political risk

XL Catlin Iberia expands into political risk

XL Catlin Iberia expands into political risk

XL Catlin’s Iberia operation will begin underwriting political risk insurance after appointing Santiago Herrero as head of political risk, credit and bond for the region. Mr Herrero will be based in Madrid and will report to Dan Riordan, XL Catlin’s global head of political risk. José Ramón Morales, XL Catlin’s country manager for Iberia, said: “Emerging economies are going through…

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