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GRM Insurance
April 3, 2024
$65bn of economic losses from nat cats in Asia Pacific last year
Natural catastrophes caused $65bn of economic losses in Asia Pacific in 2023, with 91% of losses uninsured, according to Aon. The broker’s 2024 Climate and Catastrophe Report revealed that 398…
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M&A
April 3, 2024
Global M&A sees uptick in Q1 as WTW foresees busier year ahead
The number of global mergers and acquisitions (M&A) above $100m rose by 11% in the first quarter of this year on the same period in 2022, with large deals now…
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Italy
April 3, 2024
Private equity firm takes controlling interest in Italian broker GBSAPRI
Private equity firm Brera Partners said it has bought 70% of shares in Italian broker GBSAPRI Group to drive consolidation in Italy’s “fragmented” broking sector. Details of the deal have…
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Marine
April 3, 2024
Baltimore incident likely to drive up marine insurance rates
Marine insurance pricing is likely to increase following the collapse of the Francis Scott Key Bridge in Baltimore, some experts say. The costs of cleaning up the bridge and container…
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Legal & Regulation
April 2, 2024
UK insureds slowly winning the war on Covid-BI litigation
As Covid-19 business interruption (BI) insurance claims continue to grind their way through the English Courts, UK businesses are slowly recovering billions of pounds from their insurers, despite some carriers’…
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Brokers
April 2, 2024
Davies gains Belgian license for EEA growth plan
Davies, the US-based specialist professional services and technology business, has received regulatory approval for its Belgium-based European broking operations. Davies Broking Europe (DBE) has received approval from the ... Want…
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UK/Ireland
April 2, 2024
Fidelis Partnership’s Syndicate 3123 gets in principle approval
Lloyd’s has granted in principle approval for the launch of The Fidelis Partnership’s Syndicate 3123, in collaboration with global specialty insurer Fidelis Insurance Holdings Limited, and Hampden Agencies. The syndicate…
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GRM Legal & Regulation
April 2, 2024
DWF expands global risks practice in London
Law firm DWF has expanded its global risks practice in London with the appointment of energy and marine insurance experts Gary Walkling and Franco D'Andrea as partners. Leah Wood also…
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Executive & D&O
April 2, 2024
Global D&O pricing down amid competition
The global D&O market will continue to be influenced by a multitude of factors, including geopolitical tensions, regulatory changes, technological advancements, and emerging risks, according to Gallagher Specialty. “In... Want…
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People Moves
April 2, 2024
Reilly takes charge of Sompo Asia Pacific
Japanese and international insurance group Sompo has announced leadership changes designed to support further growth of its insurance business in the Asia-Pacific region. Kenneth Reilly is appointed as CEO of…
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Aviation
April 2, 2024
Judge rules $10bn aircraft leasing dispute to be heard in London
A UK High Court judge has ruled that the $10bn battle between reinsurers and aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard…
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Market
April 2, 2024
AXA doesn’t expect ‘material’ group losses from bridge collapse
AXA doesn’t expect losses at its AXA XL unit, which leads the $3bn excess of loss reinsurance cover for the International Group of P&I clubs, to be material at group…
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Reinsurance
April 2, 2024
Aon reports favourable property cat reinsurance renewal at 1 April
April’s property catastrophe renewals in Japan mimicked trends seen in the US at 1 Jan, with pricing flat to slightly down, while South Korea, China and India also saw increased…
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Cyber & Technology
March 28, 2024
Most UK firms pin AI on board agenda but 11% not discussing topic: Airmic
The majority of UK risk managers (78%) said artificial intelligence (AI) is on their board’s agenda, with a further 4% planning to elevate the issue to the boardroom, according to…
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Trade Credit
March 28, 2024
Higher claims for trade credit insurers expected but strong financial buffers
The global economic slowdown will translate into a higher number of insolvencies and therefore higher claims for trade credit insurers, according to Moody’s Ratings. But it added that the sector’s…
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Marine
March 28, 2024
New global chief underwriting officer for marine at AXA XL
Neil Cole has been promoted to global chief underwriting officer, marine, at AXA XL, effective 1 April. He was previously global head of underwriting management and deputy chief underwriting officer,…
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Market
March 28, 2024
Lloyd’s posts ‘best result in recent history’ as prices rise for 24 consecutive quarters
Lloyd’s said it delivered its “best result in recent history” last year as profit swung back to £10.7bn from a loss of £800m in 2022, boosted by the previously announced…
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France
March 28, 2024
French insurers call for ‘real’ national risk prevention strategy
The French federation of insurers (France Assureurs) has called for a “real national risk prevention strategy” as the nation and its insurance sector faces up to rising economic, climatic and…
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ESG Climate Risk
March 28, 2024
Climate disclosures will help identify risk but increase scrutiny, says Moody’s
Increased global transparency and standardisation will improve the ability to analyse climate risks and opportunities, but some entities will face heightened risks from greater regulatory and market scrutiny, according to…
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Marine
March 28, 2024
Bridge collapses from vessel collisions ‘rare’, says Allianz Commercial
The dramatic collapse of the Francis Scott Key Bridge as a large container ship struck a support column leaving the Port on Baltimore on Tuesday is rare, according to Allianz…