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Asia
Transactional risk market in Asia continues to grow says Marsh
The transactional risk market in Asia gained momentum in 2024, with increased deal volumes across all sub-regions, according to Marsh. Its Transactional risk insurance 2024: Year in review notes that…
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Asia
Ping An Insurance reports 48% increase in net profit
Ping An Insurance (Group) Company of China has announced a 47.8% increase in net profit attributable to shareholders of the parent company to RMB 126.6bn (€16.12bn) in 2024, and a…
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Asia
Deepseek AI model could improve Chinese insurers’ operating efficiency
Use of the artificial intelligence (AI) model DeepSeek could improve operating efficiency of mainland China insurers, albeit with risks, according to AM Best. It said the use of the AI…
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GRM Insurance
UAE insurance market sees GWP increase by 21%
Gross written premiums in the UAE insurance sector rose by 21.4% in 2024 to AED 64.8bn (€16.27bn), according to the Central Bank of the UAE (CBUAE). In its Quarterly Economic…
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GRM Insurance
IQUW expands Bermuda platform and gets A- rating from AM Best
Global specialty insurer and reinsurer IQUW has expanded its Bermuda platform with capital of over $1bn and has been assigned an A- rating from global credit rating agency AM Best.…
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Aviation
Heathrow Airport closure sparks probe amid contingency questions
An investigation has begun into the closure of Heathrow Airport on Friday after it lost its main source of power following a fire at a nearby substation, grounding more than…
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CRE Legal Regulation
Deregulation concerns amid EC’s chemical industry talks
Participants invited to take part in the European Commission’s (EC) discussions with the chemical industry this week have raised concerns about the direction of the EC’s agenda and criticised the…
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Cyber & Technology
Cybersecurity agency reports 15% more attacks in France last year
Cyberattacks continue to grow in France, with destabilising actions by hacktivists joining state-sponsored activity and criminal for-profit scams as the main threats facing IT security in the country. According to…
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Cyber & Technology
AI to fuel rise in cyberattacks on SMEs, warns CyberCube
Hackers are expected to use artificial intelligence to step up ransomware attacks against smaller businesses, according to cyber insurance analytics firm CyberCube. Ransomware gangs pose a bigger threat to small…
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CRE Legal Regulation
Meta berates Europe’s regulators for delayed rollout of Meta AI
Meta said Europe’s “complex regulatory system” meant it’s “taken longer than we have liked” as it pressed ahead with the launch of its artificial intelligence assistant to users in Europe.…
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SRR Analysis
Report highlights need to identify, assess and mitigate nature-related risks
AXA XL has launched a new report, in partnership with Nature Positive, looking at how companies can integrate nature-related risks into their risk management strategy. It notes that nature risks…
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GRM People Moves
New global head of ART at Allianz Global Corporate & Specialty
Lara Martiner is to become the new global head of alternative risk transfer at Allianz Global Corporate & Specialty (AGCS), with effect from 1 April 2025. She will maintain her…
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CRE Legal Regulation
Amazon loses appeal against €764m GDPR fine
Amazon has lost its appeal against a €746m fine for breaches of Europe’s General Data Protection Regulation (GDPR) levied by Luxembourg’s national data protection regulator in 2021. The Administrative Court…
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Cyber & Technology
Ransomware attacks spike to record high in February
Global ransomware attacks set a new monthly record of 886 cases in February, up 50% on the previous month and rising 119% over the same month last year, according to…
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North America
US P&C insurers report significant improvements in 2024
The US P&C insurance industry’s 2024 net income is estimated at $170bn, according to data analytics firm Verisk and The American Property Casualty Insurance Association (APCIA). Adjusting for over $70bn…
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Geopolitical
MS Amlin capacity backs Ukraine reinsurance scheme
Lloyd’s insurer MS Amlin said it will bind the first risks under a new Ukraine reinsurance scheme unveiled by Aon and the European Bank for Reconstruction and Development (EBRD) in…
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GRM People Moves
International Underwriting Association names new CEO
The International Underwriting Association (IUA) has appointed Chris Jones as chief executive. He will formally take up his responsibilities on 1 May 2025. The move is in response to the…
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Legal & Regulation
Corporate polluters in spotlight as case against RWE progresses
The German Higher Regional Court of Hamm has concluded hearings in Peruvian farmer Saúl Luciano Lliuya’s landmark climate case against German energy company RWE, with a decision expected on 14…
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Market
Lloyd’s ‘comfortable’ with targets despite $2.3bn wildfire losses
Lloyd’s is maintaining its 2025 growth and profitability targets despite market softening and large losses in Q1 from the California wildfires. Lloyd’s expects losses from the California wildfires in January…
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People Moves
Aon and Willis boost data analytics capabilities
Aon and Willis have both boosted their data and analytics teams as the race to make the most of emerging technology to deliver for clients hots up. Aon has appointed…