‘Steady as she goes’ for Mapfre as group plans continued expansion outside Spain

‘Steady as she goes’ for Mapfre as group plans continued expansion outside Spain

‘Steady as she goes’ for Mapfre as group plans continued expansion outside Spain

Mapfre global risks has ‘enjoyed’ as challenging a year as any other commercial and corporate insurance group in 2017, as the stubbornly soft underwriting conditions were exacerbated in the final quarter by a string of huge catastrophes in the Caribbean and southern United States. But Chris Smith, chief regions and markets officer – international at Mapfre Global Risks, says the…

Mapfre Global Risks targets UK retail market for growth

Mapfre Global Risks targets UK retail market for growth

Mapfre Global Risks targets UK retail market for growth

One area of growth for Mapfre Global Risks in 2018 will be the UK retail commercial insurance market, defined by Chris Smith, chief regions and markets officer – international, as the upper middle-market of companies with turnover of £150m or above. Mr Smith tells Commercial Risk Europe that there is a gap between the big global corporates and the SME…

Navigators opens office in Madrid

Navigators opens office in Madrid

Navigators opens office in Madrid

Navigators International, the international underwriting arm of The Navigators Group, has opened a local office in Madrid and appointed Carlos Peña Kaiser as country manager. The opening of a local office in Spain is part of the company’s growth strategy to expand its speciality insurance business to new geographic markets, Navigators said. The business will focus on serving companies domiciled…

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley starts financial lines rollout in Spain

Beazley has launched a new set of financial lines insurance products in the Spanish market for its commercial and financial institution clients. Beazley said the new products will be rolled out to other European markets – including Germany, France and Italy – during the next few months as it seeks to grow specialty lines outside the US. The new suite…

Mapfre’s profits down 22% as cat losses total €176m

Mapfre’s profits down 22% as cat losses total €176m

Mapfre’s profits down 22% as cat losses total €176m

Mapfre has reported losses of €176m from third-quarter hurricanes in the US and Caribbean, with recent catastrophes costing its global risks unit €73m. Mapfre Global Risks recorded a loss of €87m in the first nine months of this year, from profits of €30.5m during the same period of 2016. Total Mapfre group profits were down 22% for the nine-month period,…

Beazley launches Spanish operation

Beazley launches Spanish operation

Beazley launches Spanish operation

London-based international specialty insurer Beazley formally launches its Spanish operation at a reception in Madrid this evening, where brokers and customers can learn about its expanding offering for the Spanish market. Beazley’s Spanish operation is based in Barcelona and is led by Lorena Segovia, who was hired in May from HCC Global to the newly-created role of financial lines regional…

Latest risk managers sit Ferma’s rimap exam

Latest risk managers sit Ferma’s rimap exam

Latest risk managers sit Ferma’s rimap exam

Ferma held its latest rimap exams during the opening day of its forum yesterday, as it forges ahead with the scheme that has seen 32 risk managers certified to date. The exams, held in Monte Carlo yesterday, build on those previously run in Denmark and Italy. These online exams, which must be supervised by a Ferma-accredited authority, follow the launch…

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley steps up European expansion plan through new Dublin base

Beazley, the Lloyd’s-based international specialty insurance and reinsurance group, has underwritten the first policy through its new Dublin-based insurance company as it forges ahead with European expansion. The company said its new Irish operation was not created solely in reaction to Brexit. The Dublin company is the launch pad for Beazley’s ambitious European expansion plans. Beazley Insurance dac was formed…

The case for covering D&O in a global programme

The case for covering D&O in a global programme

The case for covering D&O in a global programme

For many Spanish companies, expanding into new markets outside Spain has proved to be a productive path to profitable growth. When Spain’s and much of the world’s economy took a nosedive in 2008, Spanish companies started to expand into other markets to compensate for the challenges in their home country. And international expansion was not limited to just a handful…

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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