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CRE Insurance
Marsh: Soft market continues into 2011 but negotiations may become tougher
[New York]—International broker Marsh expects the soft insurance market to continue in 2011, but warns that the years of commercial buyers being able to budget for rate decreases may be…
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CRE Insurance
Hannover Re reports ‘disciplined softening’ in rates
Germany’s Hannover Re experienced a ‘disciplined softening’ of rates for non-life reinsurance at the 1 January renewals, according to Chief Executive Officer Ulrich Wallin, with some exceptions being offshore energy…
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Association News
Captives set to remain a vital tool
[Deauville]-—Companies should not close their eyes to the benefits of captives for their long term insurance strategies because of the extra costs and complexity that Solvency II will add to…
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CRE Insurance
Spanish premiums hit by downturn
Insurance premiums were down in Spain last year, as the industry suffered from a tough economic downturn. According to the latest data released by UNESPA, Spain's insurance association, premiums collected…
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Association News
AXA extends annual commitments to brokers
[Deauville]—AXA Corporate Solutions yesterday launched its first set of service commitments to French brokers to complete what CEO Philippe Rocard describes as the ‘magic circle’ of corporate insurance.
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CRE Insurance
FFSA numbers confirm tentative recovery begun
Non life insurance premiums produced only modest growth in France in 2010, as a result of fierce competition in the market and the slow recovery of the French economy, according…
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CRE Insurance
AIG sells Star and Edison life to Prudential for $4.8bn
American International Group has announced that it has sold AIG Star Life Insurance Co and AIG Edison Life Insurance Company to UK-based insurer Prudential for $4.8bn.
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CRE Insurance
GAREAT–Rates fall 10% as capacity flocks to cat pool
[Paris]—Reinsurance rates charged by GAREAT, the French terrorism pool, for large risks fell by 10.7% at this year-end renewal compared to 2010, while the reduction for small and medium-sized risks…
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CRE Insurance
AGCS denies soft French market forces 10% volume drop
Axel Theis, Chief Executive of Allianz Global Corporate & Specialty (AGCS), has denied rumours in France that the insurer opted to lose up to 10% of its corporate insurance book…
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CRE Insurance
Renault files industrial espionage case against ‘persons unknown’
Renault stated last month that it had filed a complaint with the French prosecutors’ office against ‘persons unknown’ for acts constituting ‘organised industrial espionage, corruption, breach of trust, theft and…
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CRE Insurance
And so, the hardening failed to pass–comment
Commercial Risk Europe attempts to reflect the diverse nature of our readership each issue with a balanced mix of risk management and insurance news that hopefully tackles the key matters…
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CRE Insurance
All quiet on the renewals front
Evidence from the recently completed year-end reinsurance renewals and major primary markets that are dominated by year-end negotiations such as France and Germany confirm that the European corporate insurance market…
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CRE Insurance
UK buyers enjoy stubbornly soft commercial rates but motor climbing
The primary UK property / casualty insurance market is currently flat to soft as abundant capacity persists and insurance buyers enjoy relatively stress free renewals.
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CRE Insurance
Stability dominates Italian renewals say big brokers
Italian insurers enjoyed a stable year-end reinsurance renewals round with more rates falling than rising according to the leading reinsurance brokers. Commercial insurance buyers can therefore look forward to a…
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CRE Insurance
Stability in Nordic region as high capacity cancels out losses
The Nordic region suffered rising losses last year as both bad weather and a series of industrial fire losses hit local insurers’ numbers. But reinsurance capacity remains plentiful and even…
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Benelux
Benelux remains a buyer’s market
Aon Benfield reported that the Dutch primary market, especially on the commercial and industrial property side, ‘continues to soften’ with renewals receiving 10% reductions, and even as high as 40%…
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CRE Insurance
No major losses at last and buyers reap rewards
The Austrian insurance market has suffered some big losses in recent times and 2010 finally provided the market with some blessed relief as nothing major occurred.
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CRE Insurance
Central/Eastern Europe: Big growth market but high losses in 2010
Reinsurance broker Guy Carpenter reported that reinsurance rates in the Central and Eastern European (CEE) region were driven by loss history for carriers, and so made it difficult to generalise…
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CRE Insurance
Iberian primary market still softening and reinsurance capacity abundant
Despite a tough period for both the Spanish and Portuguese economies and plenty of losses in the Latin American market to which both remain closely linked, the Iberian primary market…
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CRE Risk Management
Shell-shocked world lacks capacity to deal with global risks—WEF
[Davos]—The world is currently not fit to face new and major shocks because the amplified frequency and severity of risks to global stability have not been met with equal progress…