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Market
March 7, 2024
Beazley delivers record profit as CR falls to 71% and property rates rise 22%
Beazley’s profit before tax jumped 115% last year to a record $1.25bn, with the insurance service result, or underwriting profit, up 52% to the same amount. Insurance written premiums (IWP)…
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Employee Benefits
March 7, 2024
Workplace stress a key driver of ‘alarming’ rise in mental health problems: AXA
The mental health of workers is deteriorating and the workplace is one of the main reasons behind this trend, according to a study published by AXA. The report also shows…
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Asia
March 7, 2024
Dynamic shift in appetite from Singapore and Malaysia insurance markets
Both the Singapore and Malaysia markets show a dynamic shift in insurers’ focus, with a heightened appetite for cyber, marine, cargo, and property insurances in 2024, according to Howden Markets…
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GRM People Moves
March 7, 2024
Price Forbes appoints energy leader and head of renewables
London-based broker Price Forbes has appointed Dan Nicholls to its energy leadership team, and Ray Spreadbury as head of renewables. The appointments are part of a move to bring together…
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ESG
March 7, 2024
Supply chain emissions data a ‘mammoth’ task for risk managers, says Airmic
Risk managers face a “mammoth” task identifying carbon emissions in their supply chain, according to UK risk management association Airmic, following the results of its latest weekly poll that found…
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Cyber & Technology
March 7, 2024
ECB cyber stress test will provide much-needed resilience boost, says S&P
The results of cyber stress tests underway at Europe’s banks will shape the regulatory agenda as the European Central Bank (ECB) steers the sector towards greater resilience, according to S&P…
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Cyber & Technology
March 7, 2024
Mosaic launches technology errors and omissions solution
A primary technology errors and omissions (E&O) solution has been launched by Bermuda-based specialty insurer Mosaic Insurance. The new coverage from the insurer’s cyber division is designed to protect tech…
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Risk Management
March 7, 2024
German business calls for heightened protection following Tesla attack
German business groups have called for better protection of critical infrastructure this week after a suspected arson attack by supposed leftist activists on Tesla’s gigafactory outside Berlin halted production until…
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CRE Legal Regulation
March 7, 2024
New EU payment deadlines will weaken Europe, claim German insurers
The German Insurance Association (GDV) has warned that the EU’s planned payments regulation, which would introduce mandatory payments within 30 days and is designed to support SMEs, will backfire and…
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Climate Change
March 7, 2024
SEC adopts compromised climate-related disclosures
The US Securities and Exchange Commission (SEC) has adopted rules to enhance and standardise climate-related disclosures by public companies and in public offerings. As ever, the new rules will draw…
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Legal & Regulation
March 7, 2024
Average securities class-action settlement reaches record high
The average amount for settling securities class actions in the US was the highest in over a decade last year, Cornerstone Research says in a report. The economic consultancy said…
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GRM Insurance
March 7, 2024
New and enhanced A&H product from RSA Insurance
A comprehensive group personal accident and business travel cover has been launched by RSA Insurance. The new and enhanced accident and health (A&H) product is designed to give organisations and…
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Market
March 6, 2024
Reinsurance prices to peak this year after ‘modest’ rises in months ahead: Moody’s
Global reinsurance prices are likely to peak at multi-decade highs in 2024 as competition intensifies, according to Moody’s. The ratings agency says reinsurers have scope to push through modest further…
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Cyber & Technology
March 6, 2024
EU strikes deal on cybersecurity package
The European Council presidency and European Parliament’s negotiators have reached a provisional agreement on the so-called ‘cyber solidarity act’, as well as targeted amendments to the cybersecurity act. The Council…
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Market
March 6, 2024
US rate hikes accelerate in February: Ivans
Commercial policyholders paid more for most major lines of coverage last month as premium renewal rates accelerated compared with January, according to a report from data exchange Ivans Insurance Services.…
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Market
March 6, 2024
Scor plans to ‘fully benefit’ from supportive market conditions
Scor continues its strong growth in the specialty insurance segment, and chairman Fabrice Brégier said during the company’s latest set of results that the group intends to “fully benefit from…
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ESG
March 6, 2024
Lloyd’s hits gender target but work remains to reach ethnicity goals
Lloyd’s has revealed that 21% of new hires across the market last year were from diverse ethnic backgrounds, an increase of four percentage points but still outside the one-in-three target…
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Legal & Regulation
March 6, 2024
EU acts to break the forced labour business model
The EU may have ditched the Corporate Sustainability Due Diligence Directive (CSDDD) for the time being but opponents of strict liability for human rights and environmental abuses within European organisations’…
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DACH
March 6, 2024
German industrial insurers need to step up digitisation efforts: WTW
Insurers still have a long way to go when it comes to digitising their underwriting, based on a survey of around 170 industrial insurance representatives that attended WTW’s recent Insurer…
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Cyber & Technology
March 6, 2024
France steps up cyber defence efforts
French state cyber agency ANSSI has reported that cyber espionage remained high last year, with a significant increase in attacks on individuals and non-governmental structures that create, host or transmit…