-
CRE Insurance
Lloyd’s suffers £697m loss after battering from nat cats
Lloyd's has announced losses of £697m (€774m) and a combined ratio of 113.3% for the first six months of 2011 on the back of what it described as unprecedented levels…
-
CRE Insurance
German managers need better D&O protection as litigation mounts
German managers are demanding better protection from their D&O policies as the trend for companies to sue their management continues, according to one of the managers accused in the corruption…
-
Maltese and Slovenian risk management associations join Ferma
Ferma this week announced that the risk management associations of Malta and Slovenia have been accepted as its latest members. With their addition the total number of countries whose risk…
-
CRE Insurance
Corporate round-up
Torus acquires Lloyd’s Broadgate, Willis Argentina hires new CEO, Consortium announce acquisition of Whittington UK from the Whittington Group and XL expands in UK mid-market.
-
Benelux
Dutch insurance sector outlook stable says Fitch
The outlook for the Dutch insurance sector is stable, according to Fitch, with the vast majority of Dutch insurer ratings likely to be affirmed over the next 12 to 24…
-
Aviation
Risk manager takes top role at Willis Global Aerospace
Willis has announced the appointment of ‘risk management expert’ Mark Wilford, Director of Risk at Rolls-Royce Group, as chairman of its Global Aerospace division.
-
CRE Insurance
Increased focus needed on solar energy risk says IMIA
Risks faced by solar energy installations are on the rise as they attract the attention of organised gangs looking to loot the expensive materials used in their construction. Combined with…
-
CRE Insurance
Insurers and buyers must meet halfway to spark unfit CBI market
In order for the insurance industry to supply fit for purpose contingent business interruption (CBI) cover risk managers must provide more transparency on their supply chains and general business models,…
-
CRE Insurance
Low interest rate biggest shock to insurance industry that must adapt
The record low interest rate environment, rather than the recent spate of natural catastrophes, has caused the biggest shock to the risk transfer industry, according to Swiss Re. With these…
-
CRE Insurance
Jeworrek says CBI cover must change and urges risk managers to up efforts
Torsten Jeworrek, member of Munich Re's Board of Management and Chairman of its Reinsurance Committee, has warned that for severe catastrophe events contingent business interruption (CBI) policies must undergo change…
-
CRE Insurance
How to sell a risk-Comment
The Kiwis (New Zealanders), as anyone who has had the ‘pleasure’ of playing rugby against them will attest, do not tend to mess around and overcomplicate things. If something needs…
-
CRE Insurance
Reserve redundancies running out but do not pose immediate risk
The significant reserve releases by insurers and reinsurers in recent times to bolster earnings in the absence of healthy investment returns do not pose an immediate threat of sudden reserve…
-
CRE Insurance
Pressure mounts for rate hardening in risk transfer industry says Moody’s
The low interest rate environment, depletion of the reserve cushion and moderation in the supply and demand imbalance fuelled by the recent natural catastrophe losses have all provided strong momentum…
-
CRE Insurance
Rate hardening or outlook downgrade?—AM Best
Whilst AM Best’s rating of the global reinsurance segment remains stable the firm said it is taking a wait and see approach on whether potential further catastrophe losses, worsening economic…
-
CRE Insurance
Buyers must be prepared to pay for extended BI cover—Hannover Re
Ulrich Wallin, Chairman of the Executive Board of Hannover Re, suggested this week that appetite for extended business interruption coverage for insurers and their corporate customers following the Japanese earthquake…
-
CRE Insurance
Willis’ Sullivan says advances in modeling could end volatile market cycles
In a keynote speech at the Monte Carlo Rendez-vous this week Martin Sullivan, Deputy Chairman of Willis Group and CEO of Willis Global Solutions, argued that due to advances in…
-
CRE Insurance
Reinsurers must work hard to reclaim US casualty business—Aon Benfield
Reinsurers missed a big opportunity in US casualty business after 2004 as they viewed the line more pessimistically than the primary market and lost significant potential profit as a result.
-
CRE Insurance
Best practice guide on supply chain management launched by SCRLC
With supply chain disruption at the forefront of many risk managers’ minds following the recent Japanese earthquake and other global disasters the Supply Chain Risk Leadership Council (SCRLC) has published…
-
CRE Risk Management
IRM launches new guidance on risk appetite
The IRM has launched a new guidance paper on the subject of risk appetite that aims to help risk professionals and their boards to achieve their strategic objectives and comply…
-
CRE Insurance
Solvency II to shake up insurance market and cause exits–PwC
Solvency II is expected to force insurers and reinsurers to reassess their product mix and exit certain markets, according to a PwC run-off survey.
