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CRE Insurance
Shipping rates set to fall but trouble in MEA region adds to the industry’s woes
Whilst Marsh has predicted that buyers of marine insurance are likely to see rates continue to soften globally in 2011, the shipping industry will be adversely affected by the current…
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CRE Insurance
Aon Benfield calls for Turkey to embrace Solvency II
Aon Benfield has reiterated calls from Turkey’s regulator for insurance companies in the country to embrace Solvency II.
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CRE Insurance
S&P downgrade insurance companies following unrest in MEA region
Standard & Poor’s has now downgraded its outlook for several insurance companies in the Middle Eastern and African regions following the civil unrest of the past few months.
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CRE Insurance
Corporate round-up
CNA Europe forms joint French and Italian operation and creates pan-European transport team, Liberty expands into commercial lines mid-markets and banking deputy takes insurance post at Guernsey’s Financial Services Commission.
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Benelux
ING repays further $2bn of state aid
ING Group announced this week that it is to repay €2bn of state aid in May as part of its settlement of the €10bn that it borrowed during the financial…
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CRE Risk Management
New media landscape must change publishers’ approach to credit risk
Publishers and other media content providers must fundamentally alter the way in which they approach credit risk as the popularity of digital publishing technology changes the media landscape.
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Back to basics-Comment
Guernsey’s decision to opt out of Solvency II by not seeking equivalence may run totally counter to the efforts of rival captive centres such as Malta to really stress the…
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Association News
Polrisk moves forward on several fronts to raise risk management standards
Polrisk, the Polish risk management society, is spearheading a number of new projects that are designed to raise the standard of risk management in Poland.
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CRE Insurance
EC offers smaller insurers ray of hope on Solvency II claim rating agencies
The EC’s Omnibus II package, published in mid-January, could provide smaller European insurance companies in particular with badly needed breathing space to implement Solvency II and possibly avert a capacity…
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CRE Insurance
Disconnect between soft market trend and individual reinsurer’s experience the big conundrum of renewals
As equity analyst William Hawkins sees it, the ‘biggest conundrum’ of the January 1 reinsurance renewals is the apparent disconnect between the market’s overall rate declines and the generally flat…
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CRE Insurance
Done too much, much too soon
As reported in the last issue of Commercial Risk Europe the US and European insurance industry is worried about fundamental changes to elements of accounting proposed by the International Accounting…
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Association News
Intense competition drives innovation and service among large insurers
Europe’s leading corporate insurance groups are stepping up their efforts to raise service levels in key areas such as global programmes, captive servicing, loss prevention and emerging risks in an…
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CRE Insurance
Time for joined-up thinking-August Pröbstl
Torsten Jeworrek, board member at Munich Re, announced that the group would expand into the large corporate primary insurance market in a significant way and in particular focus on complex…
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CRE Insurance
New world, new risks, new solutions
Munich Re sees plenty of opportunities and challenges in the global economy currently and the pace of commercial change demands ever-more innovative responses from risk transfer specialists. August Pröbstl explained…
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CRE Insurance
CEA calls for upfront disclosure if EC opts for new transparency rules
The CEA, the European insurance and reinsurance federation, has told the European Commission that if it decides to order improved transparency in the way intermediaries are remunerated that it should…
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CRE Insurance
Big brokers’ remuneration practices slip back warns JLT’s CEO
Dominic Burke, chief executive of Jardine Lloyd Thompson, has warned that brokers may once again find themselves with regulatory challenges to their remuneration practices and said that his firm would…
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CRE Insurance
ECJ ban on gender pricing will hit insurers and consumers
The European Court of Justice ruling on Tuesday that outlawed the pricing of risk based on gender will have a major impact on the European insurance market at a time…
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CRE Insurance
AGCS hit by cat losses and soft market but delivers robust results
Although payouts for natural catastrophe losses and the ongoing soft rate environment weighed on its annual results, Allianz Global Corporate & Specialty (AGCS) chief executive Axel Theis said 2010 was…
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CRE Insurance
AIG stokes reserves debate with more detail on additions
Robert Benmosche, CEO of AIG, attempted to clarify and perhaps allay analyst fears about its recently announced $4.1bn reserve charge for Chartis in the fourth quarter but may have raised…
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CRE Insurance
Swiss Re estimates its exposure to New Zealand quake at $800m
Validus has placed total industry-wide insured losses from the New Zealand earthquake last week at between $6bn and $7.5bn, whilst Swiss Re has announced that it expects its losses to…
