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Association News
Niche approach key for German industrial insurers facing profit squeeze
German industrial insurers are enjoying rising premium income in key lines, but are suffering from margins that have been too tight for some time, claims Thomas Leicht of German mutual…
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CRE Insurance
Tactics must evolve to meet new piracy threat, experts say
Somali piracy has taken an alarming turn for the worse in the first quarter of 2011 and governments and organisations must therefore evolve their tactics and attempt to anticipate changes…
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CRE Insurance
Geneva Association warns on systemic reform and says AIG not insurance failure
International financial regulators must avoid a ‘shotgun’ approach to regulatory reform that lumps the insurance sector in with the banks, according to international insurance economics think tank The Geneva Association.
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CRE Insurance
MAPFRE Q1 results boosted by Latin America performance
MAPFRE's move to grow its presence in the Latin American markets appears to be paying off, as first quarter results from the region have overshadowed a more modest performance in…
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CRE Insurance
Corporate round-up
QBE Italia moves into D&O market, Cooper Gay launches new International management team, Alastair Speare-Cole to join JLT Re as chief exec, Graham leaves position of CEO at Paraline and…
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CRE Insurance
Solvency II forecast to hit demand and supply for European corporate debt
Credit rating agency Fitch Ratings’ latest quarterly European fixed income investor survey, that represents the views of managers of an estimated $4tn of fixed income assets, has found that nearly…
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CRE Insurance
US severe thunderstorm losses up to $5.5bn say AIR
AIR has estimated insured losses from the severe thunderstorm outbreak that struck the US between 22–28 April of between $3.7bn and $5.5bn.
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CRE Insurance
Half of insurers fail to measure and manage risk culture warns consulting firm
Almost half of insurers do not have an effective way of measuring and managing the risk culture within their organisations, according to a recently published poll carried out by consulting…
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CRE Insurance
Hidden costs of risk engineering can outweigh benefits
MSM Risk Management have warned of the hidden costs of risk engineering and added that without the correct approach the discipline has the potential to cost more money than it…
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CRE Insurance
Inconsistent models and Solvency II demand better model evaluation-broker
Due to inconsistencies within catastrophe models and the added uncertainty that Solvency II will bring to the allocation of capital reserves and reinsurance purchases, Aon Benfield have urged insurers to…
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Captives
Captives need improved counterparty and cat risk proposals under Solvency II
Risk and insurance managers that own captive insurance companies that will fall under the remit of Solvency II, Europe’s planned new capital adequacy regime, need clarification from the architects of…
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CRE Risk Management
German risk managers demand more courage from carriers-DVS president
German risk managers are demanding more courage and innovation from the insurance industry to help them tackle the ever growing list of risks, according to Klaus Greimel, the current president…
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CRE Risk Management
Risk management role grows in financial crisis, RIMS and Marsh study shows
A majority of C-suite executives and risk managers questioned in a new survey by RIMS and Marsh agree that expectations of the risk management function have grown during the financial…
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CRE Insurance
Single European contract law edges nearer as industry consulted on study
The European Commission has invited interested parties such as risk managers and insurers to provide it with feedback on a recently published feasibility study that an expert group has delivered…
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CRE Risk Management
Economic slowdown top concern says Aon risk management survey
Global business leaders and risk professionals rate economic slowdown and regulatory changes as the two greatest risks they currently face, according to Aon’s 2011 Global Risk Management Survey.
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CRE Risk Management
Risk appetite in focus as IRM launches consultation paper
In response to events such as the global financial crisis and the publication of the Corporate Governance Code in the UK, which have highlighted the need for boards and their…
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CRE Insurance
Property market faces three-way squeeze that could raise rates—Lockton
Recent catastrophe losses, the introduction of more onerous catastrophe models and rising reinsurance prices all signal an uncertain future for the property insurance market and could result in a restriction…
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CRE Insurance
French ships turn to armed guards in bid to stave off piracy risk
French cargo ships are increasingly employing armed security teams in a bid to protect themselves against the raised threat of piracy, according to experts at a transportation insurance conference in…
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CRE Insurance
Omnibus II delays threaten Solvency II deadline, warns KPMG
Delays to the finalisation of Solvency II’s latest revisions are having an ‘unwanted’ impact on the regime’s implementation and increasing fears that neither insurers, many of whom have been left…
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CRE Insurance
Corporate round-up
QBE appoints German country manager, Chartis Europe appoints Fabrice Brossart as chief actuary and Brit Insurance appoints Daniel Mitchell as UK portfolio manager of professional risks.