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France
April 10, 2024
Aggressive underwriting and rising losses blamed for French local government insurance crisis
A new parliamentary report has blamed overly aggressive strategies from a dominant insurer that led to high market concentration, combined with rising losses from nat cats and civil unrest, for…
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GRM People Moves
April 10, 2024
New head of accident and health at Arch Insurance International
Arch Insurance International has promoted Sebastian Terry to head of accident & health (A&H). In his new role, Terry is responsible for managing the underwriting activities across Arch’s A&H portfolio.…
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Geopolitical
April 10, 2024
Political risk concerns highest level for seven years, warns Allianz Commercial
Global businesses are more concerned about political risk and violence than they have been for many years, in an unprecedented 12 months for elections that will have far-reaching consequences for…
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ESG Litigation
April 10, 2024
Climate change victory in European Court of Human Rights
The European Court of Human Rights has ruled in favour of a group of older Swiss women who claimed they were at risk of dying from heatwaves as a result…
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Cyber & Technology
April 10, 2024
Airmic calls for debate on managing AI ethical risks
UK risk management association Airmic has called for more discussion about how best to manage specific ethical risks created by artificial intelligence (AI) and steer organisations through a series of…
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Reinsurance
April 10, 2024
Robust earnings will help rein in reinsurance price hikes through 2024
A rebound in reinsurance industry capital, prompted by strong reinsurer earnings, should help keep reinsurance pricing in check during 2024 renewals, according to sources and recent industry reports. Bolstered by…
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CRE Insurance
April 9, 2024
Algorithmic underwriting set to boost options for corporate buyers
The adoption of algorithmic underwriting will increase competition and reduce frictional costs for commercial and specialty risk transfer, technology experts at WTW told Commercial Risk. As the digitisation of the…
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Reinsurance
April 9, 2024
Reinsurance prices ‘peaked’ ahead of next round of renewals, says Berenberg
Reinsurance prices are likely to have peaked, according to analyst Berenberg, but strong levels of demand for protection will balance any deterioration in rates. Berenberg analyst Tryfonas Spyrou said risk-adjusted…
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Construction
April 9, 2024
Insurtech launches UK construction sector specialist MGA
A new specialist MGA serving the UK construction sector has been launched by insurtech Acies MGU. Phoenix Specialty has capacity backing from AXA UK and launches with contractors all risks…
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Asia
April 9, 2024
Crawford & Company appoints president, Asia
Scott Reichelt has been appointed as president, Asia, at Crawford & Company. Based in Singapore, Reichelt will lead Crawford’s operations in eight regions across Asia including Singapore, Malaysia, Hong Kong,…
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CRE Legal Regulation
April 9, 2024
EU says deforestation regulation on track despite opposition
Virginijus Sinkevicius, European environment commissioner, reportedly told Reuters during a visit to a cocoa-producing cooperative in Ivory Coast on Sunday that the EU’s recently passed deforestation regulation will not be…
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CRE Risk Management
April 9, 2024
CyberCube expands into the Netherlands with Meijers partnership
Cyber risk analyst CyberCube has signed Dutch broker Meijers Assurantiën to use its risk models and provide clients with data-led insights into their cyber risk exposures. Meijers is the first…
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ESG Climate Risk
April 9, 2024
TSR raises forecast for ‘hyper-active’ North Atlantic hurricane season
Tropical Storm Risk (TSR) has raised its forecast for North Atlantic hurricane activity in 2024, predicting that it will be “hyper-active” and around 70% above the 1991-2020 30-year norm. TSR…
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GRM People Moves
April 9, 2024
Berkshire Hathaway Specialty Insurance appoints head of multinational
Amy Bowman has been promoted to head of multinational at Berkshire Hathaway Specialty Insurance (BHSI). She was previously vice-president of multinational. Bowman continues to be based in Boston in the…
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CRE Legal Regulation
April 9, 2024
French MPs approve bill to restrict use of PFAS
French MPs have approved the first reading of a bill that is designed to restrict the manufacture and sale of non-essential products containing PFAS, known as forever chemicals. The list…
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CRE People Moves
April 9, 2024
Lockton Norway appoints new CEO and chair for ‘next phase’ of growth plan
Global broker Lockton has announced Anders Johannessen will take over from Cato Aamodt as CEO of Lockton Norway while Lorraine Boyle will become chair, replacing Alistair Rivers. Lockton said the…
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DACH
April 8, 2024
German insurers upgrading models to include flash floods
German insurers are working to take flash floods into account within their risk models. “The July 2021 flood in particular showed that previous flood simulations do not depict flash floods…
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Cyber & Technology
April 8, 2024
AI elevates cyber threat landscape as nations go to the polls, warns Munich Re
Cyber risk will increasingly be driven by AI that makes it faster and cheaper to distribute attacks at scale, warns Munich in its Cyber Insurance: Risks and Trends 2024 report.…
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Trade Credit
April 8, 2024
New credit and political risks consortium launched by Antares syndicate
Antares syndicate 1274 has launched a credit and political risks insurance consortium. The maximum line for the consortium will initially be $40m. Antares will lead with a 75% line with…
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North America
April 8, 2024
Lancashire Insurance US focuses on E&S market
Lancashire Insurance US has opened for business, operating under a delegated underwriting arrangement with Lancashire’s UK platform. It is focused on the US excess and surplus market, with initial products…