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Spain/Portugal
April 30, 2024
Spanish MGAs in talks to change rules to allow them to serve buyers across Europe
Spanish MGAs are holding negotiations with the Spanish authorities to implement legislative changes that would enable them to operate across the EU. Local MGAs have expanded their presence in Spain…
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Asia
April 30, 2024
Asian and IMEA risk managers enjoy rate reductions in Q1
Asian risk and insurance managers will be pleased to hear that insurance rates in Asia fell by 2% in the first quarter of 2024 after being flat for the three…
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Employee Benefits
April 30, 2024
Health and wellbeing packages nearly as important as pay, finds Towergate poll
Employees’ interest in health and wellbeing support offered by potential new employers is almost as important as salary, according to UK-based Towergate Health & Protection. In a survey of 500…
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Asia
April 30, 2024
New title insurance covers from DUAL Australia
DUAL Australia has launched a new business line focusing on commercial real estate transactions and M&A deals. The new line is offered by DUAL’s specialist title insurance team, DUAL Asset.…
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Cyber & Technology
April 30, 2024
Average ransomware demands up 36% last year to $1.4m: Coalition
Cyber insurer Coalition saw claims frequency among its policyholders rise 13% last year, with more than half of all losses emanating from emails, overtaking ransomware as the biggest weak point.…
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Employee Benefits
April 30, 2024
UK employers to maintain existing benefits structures despite cost concerns
Cost is the number one factor driving decisions around employee benefits and wellbeing strategies in UK businesses, according to a new report from Howden Employee Benefits & Wellbeing and the…
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Brokers
April 30, 2024
Credit and political risk insurance broker BPL appoints new director
Lizzie Thomas has been appointed as director at BPL, the broker specialising exclusively in credit and political risk insurance. BPL said the move is designed to bolster its broking teams…
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People Moves
April 30, 2024
Claire McDonald named CEO of Scor’s large corporate primary business
Former HDI Global executive Claire McDonald is joining Scor as CEO of its large corporate risk unit. McDonald has been appointed CEO of Scor Business Solutions, previously Scor specialty insurance,…
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Property
April 30, 2024
Insured cat losses above average in Q1 but down 43% on last year: Aon
Insured losses caused by natural catastrophes reached at least $17bn for the first quarter of 2024 and were slightly above the average of $16bn this century, according to a report…
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ESG Regulation
April 29, 2024
CSDDD a ‘milestone for responsible business conduct’
The Corporate Sustainability Due Diligence Directive (CSDDD), adopted by the European Parliament last week, will codify the UN Guiding Principles on Business and Human Rights into law. The Greens/EFA group…
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ESG
April 29, 2024
Shifting climate litigation against corporates and D&Os ripe for growth
The current shift in climate litigation and ESG regulation means that corporates and D&Os face mounting risk, with things even more tricky for multinationals as major jurisdictions move at different…
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ESG
April 29, 2024
Risk managers urged to include climate change impact on workforce health
Climate-related medical alerts spiked by 80% last year, according to medical and travel services firm International SOS, which urged organisations to review their occupational safety and health (OSH) programmes in…
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Africa
April 29, 2024
New Africa-focused syndicate launched at Lloyd’s
A new syndicate at Lloyd’s focused on underwriting business across Africa has been launched by Africa Specialty Risks (ASR). It is the first African-focused syndicate writing business at Lloyd’s. ASR…
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Risk Management
April 29, 2024
WTW and Riskonnect partner on risk diagnostic tool
WTW and risk management software firm Riskonnect are partnering to pilot an “innovative” risk diagnostic tool that promises to provide clients with real time actionable insights on their risk mitigation…
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UK/Ireland
April 29, 2024
AM Best upgrades outlook for UK market and expects further rate hardening
AM Best has revised its outlook for the UK non-life insurance market to stable from negative, in part because it believes commercial and specialty carriers will continue to benefit from…
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Cyber & Technology
April 29, 2024
Marsh extends Cyber ECHO facility to $125m of excess capacity
Marsh has added another $25m to its excess cyber facility ECHO, bringing its overall capacity to $125m. The broker said this makes ECHO the largest facility of its kind in…
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Market
April 29, 2024
Beazley grows premiums 7% in Q1 as overall rates flatten
Beazley booked premium growth of 7% for the first quarter of this year to $1.48bn after rate increased slowed to 1% across its portfolios, down from rate hikes of 10%…
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Middle East
April 29, 2024
Stable outlook for Gulf Cooperation Council insurance markets, says Best
Growth prospects for the insurance markets of the Gulf Cooperation Council (GCC) remain plentiful as new insurable risks enter the market, while increasing regulatory scrutiny is also leading to a…
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Market
April 29, 2024
Hartford profits soar 41% in first quarter
Hartford Financial Services reported first-quarter net income of $748m, a 41% increase compared with the year-ago period. The increase was attributed in part to improved underwriting results, spurred by investments…
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Insurance
April 26, 2024
Ferma members told AI will bring risk and reward for corporate insurance buyers
The growing use of artificial intelligence (AI) by insurers promises big benefits for corporate insurance buyers, but also comes with risks, Ferma members were told. AI has the potential to…