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…

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Global business leaders have named economic risks – specifically unemployment in first place, followed by fiscal crises – as the top threats facing their organisation for the next ten years, according to a new survey by the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks…

Holiday illness claims – the Spanish viewpoint

Holiday illness claims – the Spanish viewpoint

Holiday illness claims – the Spanish viewpoint

As recently reported in Commercial Risk Europe, the epidemic of holiday illness claims, predominantly being brought by British tourists against UK-based tour operators while holidaying in all-inclusive accommodation in Spain, has caused considerable problems for the Spanish tourist industry. The origins of this new risk appear to be in the activities of enterprising claims management companies. They are targeting tourists,…

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks (MGR) is moving into London’s aviation insurance market by appointing former Willis Towers Watson man Oscar Becerra as aviation underwriter in the market. This will be the first time MGR will write aviation business directly from London and continues its strategy of driving international growth from the UK’s capital. Mr Becerra, who joins from Willis Towers Watson,…

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