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CRE Insurance
March 5, 2024
European market to stabilise further with rate decreases on the cards in H2
Brokers predict that European insurance buyers will see the market stabilise further in 2024 and may begin to see more widespread softening for key risks in the second half, as…
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GRM News & Analysis
March 5, 2024
Latin America and Asia see big growth in ‘true risk managers’ as insurance becomes business enabler
Risk and insurance managers in key growth markets Latin America and Asia are becoming more sophisticated as their businesses expand beyond national and regional borders, according to an expert panel…
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CRE Insurance
March 5, 2024
Miller books record revenues on international and retail growth
Miller has announced record revenues for 2023 as the London-based specialty insurance broker continues its international and specialty retail expansion. For the year ending 31 December 2023, Miller posted record…
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CRE Insurance
March 5, 2024
Hiscox posts record profit of $626m in 2023 on back of underwriting rates and investment boost
Hiscox has announced record profit of $625.9m for 2023, up 127%, following a 36% gain in its underwriting result to $492.3m and a turnaround in investment income from a loss…
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GRM Insurance
March 5, 2024
Extreme weather in Australia’s summer costs insurers A$1.2bn
Insured losses from extreme weather during the Australian summer could reach A$1.2bn, according to an estimate from the Insurance Council of Australia (ICA). Losses from storms over Christmas and the…
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CRE Insurance
March 5, 2024
War risk rates hold firm after Red Sea sinking: reports
Shipping war risk insurance rates have held steady after the total loss of UK-owned cargo vessel Rubymar at the weekend, according to a Reuters report. Underwriters and brokers told Reuters…
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GRM People Moves
March 5, 2024
Aon appoints CEO of Bermuda reinsurance unit
Aon has named Roman Romeo as CEO of its Reinsurance Solutions Bermuda unit, effective 1 April, succeeding Tony Fox, who will remain as chairman. Based in Bermuda and reporting to…
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CRE People Moves
March 5, 2024
Allianz Commercial names country manager for Nordics
Allianz Commercial has appointed Margaretha Mo as country managing director for the Nordics, overseeing the group’s commercial property and casualty and specialty lines in the region. Mo joins Allianz from…
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Executive & D&O
March 5, 2024
AM Best issues negative outlook for US D&O segment as rates fall
Growing competition in the US D&O market is a key factor that has led to more capacity and lower pricing, according to AM Best, and as a result the ratings…
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Asia
March 4, 2024
Aon announces new head of India
Rishi Mehra has been appointed as head of India, Aon. He will be based in Mumbai and report to Anne Corona, chief executive officer of Asia Pacific at Aon. He…
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North America
March 4, 2024
New data-driven insurance product for US commercial fleets
Inigo Limited has partnered with technology firm Samsara to launch a new structured product for US companies with large automotive fleets. Using data from Samsara, Inigo said it will provide…
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Market
March 4, 2024
Aviva re-entering Lloyd’s with £242m Probitas deal
Aviva is re-entering the Lloyd’s market through the £242m acquisition of Probitas. The move, which is set to complete by the middle of this year, will diversify and expand Aviva’s…
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Cyber & Technology
March 4, 2024
Italy’s Enel Energia fined record-high €79m for data breaches
Italy’s regulator has fined energy firm Enel Energia €79m for failing to protect the personal data of its electricity and gas customers. The Garante per la protezione dei dati personali…
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Market
March 4, 2024
US commercial insurance price hikes ease
Commercial insurance policyholders paid an average premium increase of 7% in the fourth quarter of 2023, down from 8.1% in Q3, according to the Council of Insurance Agents and Brokers’…
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Marine
March 4, 2024
UK-owned ship Rubymar sinks in first major loss since Houthi Red Sea attacks
After months of avoiding a major incident since commercial ships came under attack by Houthi militants in the Red Sea, the first total loss has been recorded with the sinking…
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Asia
March 4, 2024
Strong growth forecast for New Zealand general insurance sector
The general insurance industry in New Zealand is expected to grow by 8.3% in 2024, supported by property and motor insurance lines, which together accounted for nearly 75% of the…
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Latin America
March 4, 2024
Talanx completes acquisitions in Chile, Colombia and Ecuador
Talanx has successfully completed the acquisition of the business of Liberty Seguros in Chile, Colombia and Ecuador, which serves retail customers and small to mid-sized enterprises. The acquisitions make Talanx…
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Marine
March 4, 2024
Marsh PPP facility expands cover to all shipping trade at Ukrainian ports
Marsh’s Unity insurance facility – backed by Lloyds and, ultimately, the Ukrainian government – has expanded, and now offers lower war risk premiums to all ships trading in and out…
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ESG Other News
March 4, 2024
Global c-suite struggling to fund sustainability investments
While a majority of organisations globally recognise sustainability as important to their business strategy, many c-suite leaders are struggling to fund their sustainability investments, according to a global study by…
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Legal & Regulation
March 4, 2024
MEPs pass beefed-up environmental crimes directive
Members of the European Parliament (MEPs) have adopted and extended the list of offences and sanctions in the Environmental Crimes Directive that could see directors and officers face charges. The…