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Asia
EU Data privacy claims filed against six Chinese firms
Austria-based data privacy campaign group noyb has filed GDPR complaints against Chinese firms TikTok, AliExpress, SHEIN, Temu, WeChat and Xiaomi for unlawful data transfers to China. The group says that…
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Asia
Singapore general insurance market set to ‘thrive’
Singapore’s general insurance industry is projected to grow at a compound annual growth rate (CAGR) of 6.2% from SGD6bn ($4.4bn) in 2024 to SGD8.1bn ($5.9bn) in 2029, in terms of…
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CRE Insurance
German insurers demand clarity on DORA
The German insurance association (GDV) has called for more clarity over the EU’s Digital Operational Resilience Act (DORA), which must be applied from 17 January despite some of the final…
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Risk Management
Munich Re predicts slower growth and higher inflation over the next decade
Global economic growth will slow in the next ten years, averaging 2.5% for industrialised countries from 2025 through to 2034 compared with 3.1% for 2010-2019, according to forecasts from Munich…
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North America
Litigation expected to be even bigger US risk in 2025
Nearly half of US corporate counsel expect the number of lawsuits and regulatory investigations impacting their organisations to increase in the year ahead, according to Norton Rose Fulbright’s Annual Litigation…
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SRR Analysis
Environmental risks now a shorter-term concern, says WEF
Environmental risks have moved from a long-term concern to a much shorter-term issue according to the World Economic Forum’s (WEF) latest Global Risks Report. This year’s Global Risks Perception Survey…
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SRR Analysis
Policy action needed on climate change amid flawed economic impact assessments
Immediate policy action on risks posed by the climate crisis is needed or the global economy could face a 50% loss in GDP between 2070 and 2090, according to a…
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Market
LA wildfires now projected to cause up to $45bn of insured losses
The Eaton and Pacific Palisades fires in Los Angeles will likely cause between $35bn and $45bn in insured losses, according to a preliminary estimate from catastrophe modelling company CoreLogic. Estimated…
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North America
Zurich North America launches specialties unit
Zurich North America, which provides commercial insurance for small to large companies, has launched a specialties business unit led by former construction head Kelly Kinzer. The business will cover construction,…
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Reinsurance
CCR Re completes rebrand to Arundo Re
French reinsurer CCR Re has rebranded as Arundo Re, in a move that it says “marks a new chapter” following its split from state-backed nat cat reinsurer CCR in 2023.…
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Asia
Asian leaders urged to focus on supply chain resilience and cyber defences
David Jacob, chief executive officer of Asia at Marsh McLennan, has advised business and political leaders to take urgent collective action, proactively enhance supply chain resilience and invest in stronger…
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Asia
Horra takes charge of Gallagher India
Global broker Gallagher has appointed Ajit Horra as CEO and principal officer of India, subject to regulatory approval. In his new role, he will lead the team headquartered in Mumbai,…
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CRE Legal Regulation
Parent company risk could see captives miss out on proportionality under DORA
European captives hoping to benefit from proportionality measures under the EU’s Digital Operational Resilience Act (DORA), which goes live today, may be thwarted by exposure to risks posed by parent…
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Asia
Markel appoints casualty claims manager in Australia
US-based insurance group Markel has announced the appointment of Scott Jordan as claims manager, casualty – Australia. Jordan joins Markel after more than 12 years at Chubb, where he was most…
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CRE Legal Regulation
Europe plans cyber threat alert for health sector by 2026
Europe has unveiled plans for an EU-wide cybersecurity centre specifically for hospitals and the healthcare sector, one of the most targeted critical sectors for cyberattacks. Launching an action plan, the…
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GRM People Moves
Senior promotions in Arch Insurance International’s casualty division
Arch Insurance International has announced senior promotions within its casualty division, covering energy liability, marine liability, London Market wholesale, general liability and retail. Robin Hamilton has been promoted t... Want…
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SRR Other News
Carbon neutral repairs initiative launched by Sedgwick in UK
Sedgwick has launched a carbon neutral repairs initiative in the UK, which it said sets a new benchmark for sustainability in insurance repairs. Sedgwick’s repair solutions division will offset the…
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Liability
US casualty rates continue to climb
Commercial insurance buyers in the US saw primary general liability rates rise in the low- to mid-single-digit range during 2024 year-end renewals, while umbrella and excess rates rose more sharply…
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Risk Management
Europe has weakest growth outlook for third consecutive year: WEF
More than half (56%) of the world’s leading chief economists expect the global economy to weaken in 2025, while just 17% anticipate an improvement, according to a study by the…
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Market
Reinsurance rates fall for loss-free accounts as supply-demand shifts
The end-of-year reinsurance renewals were broadly down globally as expanded capital coupled with an increased appetite to take on risk drove more competition for property and casualty business. Property accounts…