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CRE Insurance
‘Many events, fewer disaster losses’ in 2013 reports Aon
Insured losses from natural disasters totalled $45bn in 2013, 22% below the ten-year average of $58bn, according to Aon Benfield figures. Although the broker's loss figures are higher than recent…
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CRE Insurance
Insurer takeover of French brokerage technology company approved
The European Commission revealed this week that it has approved the joint acquisition of Netproassur SASU–a company that develops, implements and operates information and communication technology projects for insurance and…
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Climate Change
Corporate round-up
Argo International launches new EIL product, International SOS launches travel risk mitigation framework and Howden makes senior aviation appointments.
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CRE Insurance
Cat bonds top $20bn for first time
Aon Benfield has revealed that eight catastrophe bonds totaling $1.9bn were placed during Q4 of 2013 bringing the total limit at year-end to a record $20.3bn.
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Association News
Directive on non-financial reporting to hit European Parliament in March
Risk managers can expect to see the first reading of a proposed European Directive on non-financial reporting, designed to ensure transparent reporting of sustainability, environmental responsibility, diversity and avoidance of…
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CRE Insurance
Rates down by up to 25% at 1 Jan renewals
Risk managers who access the reinsurance market to help transfer business risks will be buoyed by news that rates fell significantly at the 1 January renewals as a result of…
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Association News
2014: The year of risk management certification
Ferma will next month have a first draft prepared for each of the four pillars of its hopefully pan-European risk management certification project. The pillars are knowledge, experience, ethics and…
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CRE Risk Management
ISO 31000 set to be keen focus for global risk community in 2014
Risk managers worried about their ability to keep up with the fast-changing set of reporting rules emanating from governments, regulators and standard setters had better keep an eye on developments…
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Association News
Airmic eyes industry certification plans following failed chartered bid
The UK risk and insurance managers' association, Airmic, will look to other bodies' certification efforts after its bid to secure Chartered Risk Manager status failed.
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Association News
Best practice, innovation and regulation top priorities for Airmic
Chris McGloin, Chairman of UK risk management association Airmic, has identified best practice, the need to help the insurance market in its quest for innovative products and influencing the regulatory…
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CRE Insurance
Limited $31bn nat cat damage in 2013
Natural catastrophes caused $31bn of insured losses in 2013, well below the ten-year global average of $56bn, according to Munich Re.
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Asia
Corporate round-up
Airmic set to expand technical team, FM names new leaders for Europe, Middle East and Asia Pac and Catlin launches Singapore branch.
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Association News
Carolyn Snow named new RIMS president
Carolyn Snow has been named as the new president of RIMS for the 2014 term of office.
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CRE Insurance
Risk managers and rivals eye options as RSA crisis unfolds
Risk managers who have coverage placed with UK non-life insurance leader RSA will be watching developments at the troubled company closely as new management attempts to steady the ship after…
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CRE Insurance
QBE receives ratings and outlook downgrades
AM Best became the latest rating agency to downgrade QBE's credit ratings following the insurer's recent difficulties. It also revised the firm's financial strength rating (FSR) outlook to negative from…
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CRE Insurance
Japanese NKSJ Holdings agrees acquisition of Canopius
Canopius Group is to be purchased by NKSJ Holdings, a leading Japanese insurer. Following the move, Lloyd's insurer Canopius will form the basis of NKSJ's specialty insurance business and increase…
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CRE Risk Management
Political risk on red alert in 2014
Political risk is likely to remain heightened in 2014, especially in high growth and emerging markets, according to a presentation by insurance broker Marsh and political analyst Maplecroft.
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CRE Insurance
Soft market to focus insurers’ minds on service in 2014
The relatively soft insurance market for large European corporate buyers is unlikely to change significantly in 2014, according to brokers and insurers interviewed by Commercial Risk Europe. The influx of…
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CRE Insurance
Xaver losses could reach €1.9bn
Windstorm Xaver could result in insured losses of up to €1.9bn, according to figures put forward by market observers.
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Captives
US risk managers state opposition to captive reinsurance tax
RIMS, the US risk management association, has thrown its weight behind insurers' efforts to stop the US government hitting the industry with tax penalties for offshore reinsurance that many fear…