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Benelux
Oil firms investigated by EC over price fixing
The European Commission carried out 'unexpected inspections' at the premises of Royal Dutch Shell, BP and Statoil this week over concerns that the companies have colluded to distort oil prices…
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CRE Insurance
Pricing challenges and Solvency II dominate discussion at European Insurance Forum
Insurance buyers must be persuaded to change their attitude towards pricing to allow insurers and reinsurers to cope with the rising cost of capital, regulatory change and a non-performing investment…
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CRE Risk Management
Risk managers gathering in London for Global Risk Frontiers Debate
Over 60 risk managers from around the world will join insurers and brokers next week in London to take part in Commercial Risk Europe's Global Risk Frontiers Debate.
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CRE Insurance
Spreading obesity epidemic causing major headaches for multinationals
The obesity epidemic is having an increasing impact on the productivity of labour forces worldwide and spreading beyond established western economies into emerging markets, according to new research by risk…
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CRE Insurance
Reputational risk fear triggers corporate reaction to Bangladesh tragedy
Pressure continues to build on international companies that source products from Bangladesh to face up to their responsibilities to workers following the tragic building collapse in Dhaka that led to…
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CRE Insurance
Barroso: Euro crisis is over and Italy needs to forge ahead with reforms
Risk managers throughout Europe will be delighted to learn that the eurozone is no longer in crisis, according to President of the European Commission Jose Manuel Barroso.
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CRE Insurance
Corporate round-up
Construction consortium at Lloyd's to offer flexible capacity up to $166m, ACE to offer surety solutions in Italy, Q-Re announces new management team, Marsh appoints Neil Irwin to develop offering…
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CRE Insurance
Austria gives European tax dodgers breathing space but EC vows to fight on
Tax dodging corporations and individuals in Europe will have been pleased to hear this week that Austria managed to block the passage of a new directive on savings that would…
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CRE Insurance
EC launches emergency response centre
The European Commission launched its Emergency Response Centre (ERC) on Wednesday to provide a better coordinated, faster and more efficient European response to disasters hitting the continent and worldwide.
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CRE Insurance
French class action bill moves forward
France moved a step closer to allowing US-style class actions, as the government of president François Hollande presented a bill that could see consumers access collective legal redress.
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CRE Insurance
Profits still strong for major primary insurers
A number of large primary insurers reported strong first quarter profits and relatively low combined ratios. AIG, Allianz and XL Group were all helped by lower than expected large losses…
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CRE Insurance
German reinsurers report upbeat start to 2013
Germany’s two largest reinsurance groups have reported good first quarter profits, reflecting lower than expected large claims and reserve releases.
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CRE Insurance
Some ratings to move as S&P changes criteria
Ratings agency Standard & Poor's has made important changes to the criteria used to calculate the financial strength ratings of insurers and reinsurers, a move that could alter the ratings…
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CRE Insurance
Robust cat bond issuance on track to set new record
Reinsurance broker Guy Carpenter is predicting ‘robust’ catastrophe bond issuance in 2013 as investors are increasingly drawn to the market.
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Aviation
Airline losses down 40% in 2012
The aviation industry experienced one of the lowest levels of losses to date in 2012, helping most airlines achieve premium rate reductions, according to a report from insurance broker Aon.
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CRE Insurance
Companies see compliance as biggest risk when expanding overseas: QBE survey
European companies are increasingly looking to expand in new markets, but see local laws as their biggest risk, according to a survey from insurer QBE.
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Asia
XL Group launches Shariah-compliant industrial cover
Insurer XL Group says that it is to offer Shariah-compliant insurance cover for large corporate and middle market clients. Initially the product will focus on property risks with a maximum…
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CRE Insurance
PERILS estimates Italian 2012 quake at €1.2bn
Catastrophe claims data provider PERILS says that a series of earthquakes that struck the Italian region of Emilia-Romagna last year on 20 and 29 May cost insurers €802m and €436m…
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CRE Insurance
Crisis boosts risk of employee crime
Spanish employees are increasingly stealing from their companies because of the economic crisis and general unhappiness about their personal lives and jobs, according to a detective agency.
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Association News
Ferma vows to fight back on watered down broker transparency rules in EU
Ferma president Jorge Luzzi used his place on the stage at last month’s RIMS conference to promise European risk managers that the federation will fight to ensure that the EC…
