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Asia
China Re posts big increase in profits
China Re posted a huge increase in profits for the first half of 2024 despite what president Zhuang Qianzhi described as a “complex business situation” and “arduous reform and development…
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Asia
Google under pressure as India plans digital competition law
The Alliance of Digital India Foundation (ADIF), an interest group representing the South Asian nation’s digital startups, has filed a complaint with the Competition Commission of India (CCI) about Google’s…
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Asia
Lower cat losses boost Asia-Pacific reinsurance results
Major Asia-Pacific reinsurance companies saw their composite’s return on equity surge to 9.2% from 0.1% under IFRS 17, supported by a more stable investment environment and benign catastrophe activity, according…
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CRE Risk Management
Europe’s solar farms heavily underinsured against hailstorms
Europe’s solar farms are finding it difficult to insure the full value of panels from hailstorm damage, which is slowing down expansion of the renewable energy source, according to Chaucer.…
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Energy
Thomas Miller launches energy and marine MGA Navata
A new standalone MGA business, focusing on energy and marine, has been launched by Thomas Miller. The new MGA, Navata, underwrites a wide range of renewable energy, power, onshore and…
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Employee Benefits
Zurich Global Employee Benefits Solution launches digital solutions
Zurich has launched a range of digital solutions for its Zurich Global Employee Benefits Solutions (ZGEBS) business with the introduction of enhanced digital reports, online customer collaboration platforms and automated…
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Latin America
Strong growth forecast for Brazil’s general insurance industry in 2024
Brazil’s general insurance industry is expected to grow by 10.8% in 2024, driven by increasing demand for policies covering nat cat events, investment in infrastructure projects, and rising premium rates…
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Liability
‘Unsustainable’ US social inflation spreading to other countries: Swiss Re
Social inflation has driven up US liability claims by 57% over the past decade, with the trend likely to spread to Europe, according to Swiss Re Institute. Publishing its new…
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Cyber & Technology
Munich Re to maintain ‘significant’ backing for cyber
Munich Re told those gathered at the Monte Carlo Rendez-Vous it plans to “continue providing significant capacity” for cyber risk over the coming years but will stick to its guns…
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Geopolitical
Aon and Marsh want end of blanket exclusions for Ukraine
Aon and Marsh McLennan have come together to call on the (re)insurance industry to help boost Ukraine’s resilience and economy by removing blanket exclusions on the country and stop lumping…
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Pandemic
London ExCel venue wins landmark Covid-19 BI appeal
The UK Court of Appeal has ruled in favour of policyholders and the owner of London’s ExCel conference and exhibition centre in their dispute with insurers over business interruption (BI)…
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Insurance
Protection and unity key as FM continues German and global growth
As the German risk and insurance management community gathers for the annual GVNW Symposium, Adrian Ladbury talked to Nigel Todd, vice-president client services at FM, about its recent rebrand, results,…
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ESG
Insurance market must rise to challenge of green transition
Adrian Ladbury interviews Udo Kappes, head of insurance at RWE, and finds that, along with many other German and European insurance managers, he is looking for a braver and more…
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Association News
GVNW sets focus on digital platform, ESG roadmap and captives
CEO of the GVNW and senior vice-president at BASF, Patrick Fiedler, told Commercial Risk that the association will focus on the development of its new digital platform for the industrial…
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DACH
Funk ‘fully backing’ GVNW’s digital risk placement platform
Leading German independent broker Funk is “fully backing” the GVNW’s new RD-X digital risk data exchange initiative, which the association will outline to members at this week’s symposium in Munich.…
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Market
German hard market is over: WTW
The hard market is over in Germany, price increases have stopped and it will become easier again for companies to cost-effectively insure their risks, according to broker WTW. The Frankfurt-based…
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ESG Other News
GRI partners with International Foundation to boost sustainability data
The Global Reporting Initiative (GRI) and the International Foundation for Valuing Impacts (IFVI) have partnered in a move aiming to make sustainability data as accessible, actionable and comparable as financial…
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M&A
Davies acquires Minuteman Adjusters in US
Davies is to acquire the trade and assets of Minuteman Adjusters, a third-party administrator serving global insurance carriers and Lloyd’s syndicate insurers across the US. Headquartered in Farmington Hills, Michigan,…
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Legal & Regulation
PFAS litigation and exclusions to grow in Europe, experts warn
European companies should brace for much more litigation over the use of so-called forever chemicals, or PFAS, and more insurance exclusions for the risk, said experts gathered in Munich this…
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M&A
Insurer M&A activity hits new low, says Clyde & Co
The insurance carrier M&A landscape saw a new 15-year low for first-half-year activity in 2024 with 103 deals, significantly lower than the previous low point of H1 2013 (162), according…