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Asia
January 18, 2024
Indian insurance market to see strong growth, says Swiss Re
Total insurance premiums in India will grow by 7.1% in real terms over the next five years (2024-28), well above the global (2.4%), emerging (5.1%) and advanced (1.7%) market averages,…
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Geopolitical
January 18, 2024
Underwriters insert UK, US and Israeli shipping exclusions for Red Sea transits
Underwriters are imposing exclusions on ships with links to the UK, UK or Israel continuing transit in the Red Sea, according to reports. Amid escalating war risk premiums for commercial…
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Executive & D&O
January 18, 2024
Rising Edge adds new cover for non-executive directors
London-based underwriting agency Rising Edge has expanded its commercial D&O offering to include a new D&O insurance product, tailored exclusively for non-executive directors (NEDs). The new product, NED Protect, p...…
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Market
January 18, 2024
Global insured nat cat losses hit $123bn: Gallagher Re
Global insured losses from natural catastrophes reached an estimated $123bn in 2023, the fourth consecutive year to exceed $100bn, according to Gallagher Re. This compares to the reinsurance broker’s figure…
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North America
January 18, 2024
WTW forms strategic team to focus on complex risks in North America
WTW it has formed a team of five strategic client engagement leaders to focus on complex risks within the 12 industry vertical divisions of Corporate Risk & Broking North America.…
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GRM Legal & Regulation
January 17, 2024
GFIA report highlights uniqueness of insurance industry
Policymakers must consider the significant differences between the insurance industry and other financial industries when considering future regulations, according to a new report by the Global Federation of Insurance Associations…
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GRM People Moves
January 17, 2024
Marsh’s global chief claims officer to stay with firm
Rob Powell has resumed his role as global chief claims officer at Marsh. It had been previously announced in October 2023 that Powell would be leaving Marsh to take up…
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Insurance
January 17, 2024
Canopius launches investment management cover
A new investment management product offering protection for asset managers from a range of financial liabilities has been launched by specialty (re)insurer Canopius Group. The insurer said the product has…
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Legal & Regulation
January 17, 2024
Repsol sued in Dutch court for Peru oil spill damage
Spanish oil firm Repsol faces a class action in the Netherlands for a reported $1bn, alleging an oil spill off the coast of Peru caused damage to the livelihoods of…
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DACH
January 17, 2024
Confidence in reputational risk management falls in DACH
Companies are becoming increasingly aware of their reputational risks and the potential costs of image damage, not least due to ESG obligations, according to the Frankfurt-based DACH arm of WTW.…
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Marine
January 17, 2024
Tankers divert as war risk premiums jump again for Red Sea route
War risk premiums for shipments through the Red Sea region have jumped to about 1% of the ship‘s value over the past week from 0.7%, according to a Reuters report,…
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People Moves
January 17, 2024
Chaucer announces Richard Milner as CEO from Aspen UK
London-based global specialty (re)insurer Chaucer has appointed Richard Milner as group CEO from US-based rival Aspen, where he was CEO of its UK operations. Sarah Stanford, active underwriter for Aspen’s…
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GRM People Moves
January 17, 2024
Liberty Specialty Markets appoints new CUO
Ronald Bolaños has been appointed as chief underwriting officer (CUO) at Liberty Specialty Markets (LSM). He will report to both Matthew Moore, president of underwriting, Global Risk Solutions, and Phil…
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ESG Other News
January 17, 2024
Survey highlights concerns when it comes to ESG strategies
Cyber, ‘green hushing’, wellbeing, and net zero rank as the pressing areas of concern for businesses when it comes to ESG strategies, according to the latest Allianz Risk Barometer. The…
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ESG Analysis
January 17, 2024
COP 28: The good and the bad
As the dust settles on yet another COP meeting, with pronouncements having been made and targets set, what does this mean for sustainability and in particular for corporations? Unlike some…
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Nordics
January 17, 2024
HDI enters Swedish jewellers block market
HDI Global Specialty has entered the Swedish and Nordic jewellers block insurance market with the hire of experienced underwriter Frank Mowinski. Mowinski has specialised in jewellers block for 20 years…
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People Moves
January 17, 2024
Zurich North America names chief risk officer
Zurich North America has named Ann Chai as chief risk officer, succeeding Colleen Zitt, who was named vice-president of end-to-end process controls. Chai, who joined Zurich in 2010, was previously…
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Supply Chain
January 16, 2024
Red Sea shipping crisis beyond Q1 would severely impact supply chains, warns Allianz Trade
The impact of disruption to the Red Sea shipping route on global supply chains could become “more severe” if it continues beyond the first quarter, according to Allianz Trade. Ana…
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Risk Management
January 16, 2024
Cyber and BI remain biggest concerns while fears over political threats rise in Allianz Barometer
Cyber and business interruption remain the biggest concern for companies across the world, according to the latest Allianz Risk Barometer. Natural catastrophes, fire and explosion, and political risk are the…
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GRM People Moves
January 16, 2024
HDI Global appoints new managing director for Singapore
HDI Global SE is to appoint Alex Tarantino as managing director HDI Global SE Singapore, following the retirement of Graham Silton at the end of June 2024. Tarantino is currently…