Beazley targets European growth as it creates Dublin-based insurer

Beazley targets European growth as it creates Dublin-based insurer

Beazley targets European growth as it creates Dublin-based insurer

Beazley is converting its existing Dublin-based reinsurance company into an insurance operation after receiving regulatory approval from Irish regulator, the Central Bank of Ireland. Beazley said under the renamed Beazley Insurance dac it will underwrite non-life insurance throughout the EU in addition to its Lloyd’s operations, which will continue to write EU business through Lloyd’s’ proposed insurance company in Brussels,…

June’s catastrophe losses reach $5bn with hefty insurance bill in US

June’s catastrophe losses reach $5bn with hefty insurance bill in US

June’s catastrophe losses reach $5bn with hefty insurance bill in US

Natural catastrophes recorded global economic losses of more than $5bn in June, according to Aon Benfield’s Impact Forecasting in its latest Global Catastrophe Recap Report. Global economic losses were driven by weather events in the US where hail, tornadoes, winds and flash flooding caused a total economic bill of more than $3bn in the country and estimated insured losses of…

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Another “exceptional performance” in China, together with solid expansion among the emerging countries, saw global non-life premiums grow 3.7% in 2016, down from 4.2% in 2015 but more than the ten-year average growth rate of 2.0%, according to Swiss Re. The reinsurer’s latest sigma report, World insurance in 2016: the China growth engine steams ahead, reveals that premium growth in…

Insurance lawyers form global network

Insurance lawyers form global network

Insurance lawyers form global network

Seven law firms across four continents have launched a network to focus on insurance law. The founders of Global Insurance Law Connect said the network will provide clients with access to global legal expertise on the ground. Global Insurance Law Connect was founded by four companies – Italy’s Batini Traverso Grasso & Associati, BLM in the UK, Byrd & Associates…

Companies must not freeze in face of bewildering array of risks: San Millán

Companies must not freeze in face of bewildering array of risks: San Millán

Companies must not freeze in face of bewildering array of risks: San Millán

Companies cannot allow the sheer range and scale of threats currently facing European businesses to deter them from taking risks in pursuit of profit and expansion, according to a leading Spanish risk manager. This year’s European Risk Frontiers survey, carried out by Commercial Risk Europe with risk managers from across the continent, has found that recent events such as global…

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

Germany-based international industrial insurance group HDI Global plans to offer its cyber insurance solutions for corporate and mid-market customers in 14 countries by the end of this year, after successfully launching into the German-speaking markets in 2013. Last year, the group launched its cyber activities in France, the Netherlands, Belgium, Australia and the UK. Most recently it pushed into Japan…

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…

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

French and Spanish firms face new D&O risks

While D&O exposures are particularly acute in the UK and Germany, they are also up in Spain and France, according to XL Catlin. A trend towards greater accountability, increased shareholder activism and regulatory investigations are likely to increase D&O liability in both countries over time, according to one of the insurer’s underwriters. For example, reform of the Spanish Companies Act…

Building a global programme for construction

Building a global programme for construction

Building a global programme for construction

Globalisation is never far from the headlines. Against a shifting geopolitical backdrop and a slowdown in global trade, construction companies are looking to new areas and emerging economies to achieve growth. Meanwhile, laws and regulations around the world are constantly changing. In times of uncertainty, a coordinated approach to risk management and risk transfer is key.

Revenues up but profits down at Mapfre Global Risks

Revenues up but profits down at Mapfre Global Risks

Revenues up but profits down at Mapfre Global Risks

Mapfre Global Risks, the Spanish insurance group’s operation dedicated to the large corporate market, reported healthy premium growth in 2016 of 3.2%, up to a total of €1.21bn, as the group reported healthy overall year-end results. The Global Risks unit, however, reported net profits down by 18.1% to €47m and a return on equity (ROE) of 11.9%, compared with group…

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