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Asia
TMK further bolsters Singapore marine business
Tokio Marine Kiln (TMK) has announced the appointment of Stephanie Hong as marine underwriter in APAC. She takes up her new role in Singapore with immediate effect. Hong is…
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CRE Insurance
RSA Luxembourg adds product lines in Europe
RSA Luxembourg has launched two new product lines for technology and management liability in Europe. Part of Intact Insurance Specialty Solutions, RSA Luxembourg said Aaron Belair will lead its technology…
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CRE People Moves
Howden Norway appoints Larsen as CEO
Howden Norway has named Jan Tinus Larsen as chief executive officer from 1 October, when he will take over from Anders Kvan. Larsen has served as deputy CEO of Howden…
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ESG
Just 65% of UK businesses have set 2050 net-zero target
An inaugural survey of UK businesses has revealed that 65% have committed to net zero by 2050, leaving 35% yet to set targets. Publishing the UK Net Zero Census, the…
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GRM Insurance
HDI Global to deploy Gen AI for international programmes
HDI Global is to deploy generative artificial intelligence (GenAI) to support customers in the international programmes segment. The insurer said it has successfully piloted a proprietary AI solution that will…
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CRE Risk Management
New audit code to strengthen UK corporate governance
A new code of practice for the UK and Ireland’s internal audit profession has been unveiled by the Chartered Institute of Internal Auditors (CIIA), which said the code sets higher…
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North America
Fall in Q2 US commercial property rate increases: WTW
US commercial insurance rates increases slowed to 5.9% throughout the second quarter of 2024, largely driven by a significant reduction in price rises for commercial property, according to WTW. Its…
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Asia
Australia’s House of Representatives passes climate-related disclosure bill
Australia’s House of Representatives has passed the Treasury Laws Amendment bill, which imposes mandatory climate-related disclosure obligations on large businesses. The Bill empowers the Australian Accounting Standards Board to issue…
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Legal & Regulation
BMW counts cost of global 1.5 million vehicles recall
German car manufacturer BMW has revised down its earnings targets for 2024 after shouldering the costs of a global recall of 1.5 million cars to address issues with the braking…
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Reinsurance
US casualty tops reinsurers’ concerns as renewal negotiations begin
The reinsurance market is broadly stable following flattening of rates in many lines this year but reinsurers remain wary of several sectors, including US commercial liability risks. During presentations at…
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Cyber & Technology
Archer adds Quod Orbis to risk management platform
Integrated risk management solutions firm Archer has partnered with continuous monitoring platform Quod Orbis to boost clients’ cybersecurity, compliance and risk profiles. Under the deal, Archer will add Quod Orbis’s…
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ESG Analysis
Easing the growing sustainability data burden on insureds
Risk and insurance managers in Europe have long been asking for standardisation of sustainability data requested by insurers, as well as greater transparency in how that data is used in…
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Asia
Singapore leaders warned of cyber complacency
New research carried out by Lloyd’s-based global insurer Beazley has found that nearly one in four (24%) business leaders based in Singapore cited cyber risk as the number one threat…
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Asia
Typhoon Yagi batters Vietnam
Typhoon Yagi, Asia’s most powerful storm this year, left dozens dead in northern Vietnam and widespread damage to infrastructure and factories, including many owned by foreign multinationals as it headed…
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Supply Chain
CEO concern rising over supply chain human rights abuse
There is rising concern among CEOs about human rights abuses in their supply chains, according to a 3,000-strong survey by supply chain consultant Proxima. Its survey of CEOs from the…
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ESG Insurance
Surge in complex insurance claims expected from renewables construction
The next wave of renewables construction is likely to drive a surge in complex insurance claims, according to analysis by GCube Insurance in a new report, Arrested Development: Managing complex…
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Benelux
Stability returning to Dutch market but concerns remain
Dutch insurance buyers say that insurance market conditions are slowly improving and looking more positive, but concerns remain when it comes to areas such a lack of local underwriting authority,…
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GRM People Moves
Carbon appoints head of syndicate management
Julie Gallagher has been appointed as head of syndicate management at Carbon Underwriting, the specialist managing general underwriter and manager of Lloyd’s syndicates CBN 4747 and CBN 5757. In her…
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CRE Insurance
BIBA and MGA Association team up to tackle market issues
Two UK associations representing brokers and MGAs said they will collaborate on key market issues for their members after become affiliates. The British Insurance Brokers’ Association (BIBA) and the Managing…
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CRE Insurance
Activist investor Cevian claims largest stake in Baloise
Swedish activist investor Cevian Capital has tripled its stake in Swiss insurer Baloise to 9.4%, which it says makes it the largest shareholder in the group after starting the year…