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GRM Insurance
Aspen expands its support for Ryan Specialty Group’s MGU portfolio
Aspen Insurance Holdings and Ryan Specialty Group (RSG) have signed an agreement to support a diverse international portfolio of delegated underwriting authority business. Aspen said it has joined an additional…
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Supply Chain
Supply chain disruption up 88% last year, says Resilinc
Factory fires polled as the number one cause of supply chain disruption last year, which saw an 88% rise across all drivers of delay and disruption, according to Resilinc. Supply…
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UK/Ireland
Marsh Specialty names Payne chair of its UK finpro practice
Marsh Specialty has promoted Tim Payne to chairman of its UK financial and professional (finpro) practice,. Michael Morgan is named his successor as head of professional liability for finpro in…
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Supply Chain
Risk managers face sharp focus on supply chain ethics in the US
Leading US law firms are expecting supply chain ethics to be a big issue for risk managers this year, with a particular focus on forced labour in China. US and…
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Captives
Vermont says 2021 was fourth-best year in its history for captives
Last year was Vermont’s fourth-highest year of growth in its 40-year history, in terms of new captive licences. Forty-five new captive insurance companies were licensed during 2021 in Vermont, including…
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People Moves
New head of construction and green energy at Generali Global Corporate & Commercial
Alejandro Muñiz has been appointed as the new head of construction and green energy at Generali Global Corporate & Commercial (GC&C). He will report to Filippo Cinelli, head of client…
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Cyber & Technology
WTW appoints former Lloyd’s chief digital officer to boost digital trading
WTW has appointed former Lloyd’s chief digital officer Lou Smith as head of its commercial lines data strategy, to accelerate the broker’s digital trading capability. Smith was responsible for shaping…
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Pandemic
WEF to hold first in-person meeting since pandemic began
In a sign that the worst of pandemic may be over for many, the World Economic Forum (WEF) will hold its first in-person annual meeting since the outbreak of Covid-19…
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Climate Change
Marsh teams with Risilience to help clients tackle net zero and reporting risks
Marsh is collaborating with analytics platform Risilience to give clients access to its climate change risk data, in order to help them map their journey to net zero and generate…
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GRM News & Analysis
K&R market ‘caught in a perfect storm’
Despite global lockdowns, the kidnap and ransom (K&R) insurance market has been buffeted by losses, and dwindling capacity is pushing up prices. The secretive market – whose clients are encouraged…
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GRM Insurance
Mixed bag for January reinsurance renewals, says Fitch
Reinsurance pricing for loss-free market areas, such as casualty lines of business, remained the same or fell at the January 2022 renewals, benefiting from an increase in available capacity, according…
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GRM Insurance
Hamilton Re launches financial lines insurance
Bermuda-based Hamilton Re has launched financial lines insurance, with the appointment of David Friston as senior vice-president, head of financial lines insurance. He will report to Tim Duffin, chief underwriting…
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Cyber & Technology
Merck ruling demands sharper focus on cyber risk management as cover tightens
The recent ruling by the New Jersey Superior court that insurers need to pay pharma giant Merck $1.4bn for losses caused by the NotPetya ransomware attack will not be repeated…
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Supply Chain
Shanghai port congestion driving BI and supply chain risks, warns Russell Group
Companies are facing increased risk of business interruption (BI) from delays at Shanghai port, with insurers increasingly concerned that insurance claims will start to bite, according to risk management firm…
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Captives
Stealth Partner Group launches captive solution for US healthcare costs
US stop-loss general agency Stealth Partner Group has launched a captive solution for employer healthcare costs. According to Stealth Partner Group, an Amwins company, the new solution offers employers across…
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ESG
Chubb, Mapfre and Tokio Marine called out for insuring Petrobras in conflict with net-zero ‘rhetoric’
Chubb, Mapfre and Tokio Marine have been named by Insure Our Future as insurers for Brazil’s national oil company Petrobras, which the climate action group says contradicts their net-zero policies…
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Partner Video
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Italy
Howden buys Italian broker Tower as its expands further into Italy and Europe
Rapidly expanding Howden has bought specialist Italian broker and risk consulting firm Tower as part of its plans to become one the of the top players in Italy. Tower specialises…
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People Moves
Chubb names new Swiss country president amid wider central Europe shakeup
Chubb has appointed Nikolay Dmitriev as regional executive officer for its central Europe region, and Nathalie Meyer as country president for Switzerland. They will replace Dawn Miller, outgoing regional executive…
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Market
Strong commercial results boost Travelers’ profit
Travelers has reported that fourth-quarter net income rose 2% to $1.33bn on the strength of its commercial segments, which offset challenges in personal lines. For the year, the insurer’s net…