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…

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…

Loss estimate for storm Zeus rises to €269m

Loss estimate for storm Zeus rises to €269m

Loss estimate for storm Zeus rises to €269m

PERILS AG has increased its insured loss estimate for damage to property from cyclone Zeus, which affected parts of France in March, to €269m from an initial €192m. The Zurich-based company, which maintains a database of natural catastrophes, said it will issue a third update on insured losses from Zeus in September 2017, which will also provide a breakdown of…

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…

Fenchurch Law appoints new associate

Fenchurch Law appoints new associate

Fenchurch Law appoints new associate

UK firm Fenchurch Law, which specialises in complex insurance disputes and works solely for insureds, has appointed Alex Rosenfield as an associate in its professions team. Fenchurch Law said Mr Rosenfield brings experience of property damage, business interruption and professional indemnity claims for professional clients including accountants, solicitors, IFAs and surveyors caught up in claims disputes. Mr Rosenfield joins Fenchurch…

Zurich to take further action on commercial business

Zurich to take further action on commercial business

Zurich to take further action on commercial business

Zurich Insurance plans further actions to improve the performance of its commercial book, after reporting underwriting losses in Europe and the US during the first quarter. Zurich’s CFO, George Quinn, told analysts that the firm will need to take more action in its commercial business in the face of challenging market conditions. He said the Switzerland-based group will continue to…

Zurich’s Q1 income falls on Ogden charges

Zurich’s Q1 income falls on Ogden charges

Zurich’s Q1 income falls on Ogden charges

Zurich Insurance has reported a 31% fall in net income to $607m in the first quarter, reflecting a $289m charge for changes to the Ogden compensation rate in the UK. Announcing its results, Zurich also reported that more work is needed to improve the combined ratio in commercial lines. The commercial insurance combined ratio stood at 106.7% in the first…

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