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Asia
February 1, 2024
New chief executive designate of Asia Pacific at Price Forbes
Phil Johnson has been appointed as chief executive designate of Asia Pacific at broker Price Forbes as it looks to expand in Asia. He will be based in Singapore and…
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Legal & Regulation
February 1, 2024
EC raids European tyre giants in cartel probe
The European Commission (EC) has carried out unannounced inspections at the premises of tyre companies across several EU member states because of potential anti-competitive practices. “The Commission has concerns that…
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M&A
February 1, 2024
Generali strengthens position in Europe with Liberty Seguros deal
Generali has completed the acquisition of Liberty Seguros, Compañia de Seguros y Reaseguros, S.A. – the Spanish insurer that operates in Spain, Portugal, Ireland and Northern Ireland – from Liberty…
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Insurance
January 31, 2024
Generative AI: A Game Changer for Insurance?
Over the past year or so, since the unveiling of ChatGPT4 by OpenAI in November 2022, the potential of Generative AI has been capturing the imagination of business leaders across…
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Association News
January 31, 2024
Ferma calls on European Council to bring in risk management expertise to boost cyber resilience
European risk management association Ferma has called on the European Council to draw on risk management expertise to deliver on priorities to increase the bloc’s cyber resilience, alongside other targets…
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Market
January 31, 2024
Chubb books 72% jump in 2023 net income to deliver ‘blowout year’
Chubb reported a 72% increase in net income for full year 2023 to $9.3bn, driven by a 152% jump in Q4 to reach $3.3bn after a one-time deferred tax benefit…
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Market
January 31, 2024
Gracechurch rates London claims service at ten-year high
Independent insurance research consultancy Gracechurch has awarded it Claims Service Quality Marque to ten London insurers this year, two more than in 2023. Aegis London, Beazley, Chaucer, Chubb, Convex, HDI…
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M&A
January 31, 2024
Rebound in M&A activity expected in 2024
The early signs for a rebound in global M&A activity in 2024 are promising and demand for representations & warranties (R&W)/warranty & indemnity (W&I) insurance is likely to intensify over…
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Cyber & Technology
January 31, 2024
Guy Carp launches ‘ground breaking’ cyber cat solution
Guy Carpenter has launched what is describes a “ground breaking” cyber reinsurance product to help insurers manage catastrophe risk and deliver more cyber cover for risk managers. The reinsurance broker…
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Asia
January 31, 2024
Profitable underwriting sees stable outlook for Japan’s non-life insurers
Japan’s non-life insurance industry has seen an improvement in premium income in most lines of business, with profitable and stable underwriting, combined with a solid capital base, says AM Best.…
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Trade Credit
January 31, 2024
Canopius strengthens credit and political risk team
Specialty (re)insurer Canopius Group has appointed Angelos Deftereos as head of structured credit and Boris Medimorec and Virad Patel as underwriters in its credit & political risk team in London.…
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Asia
January 31, 2024
Property owners turning to captives despite market slowdown
Despite a slowdown in the pace of property insurance rate increases, buyers continue to use captives to finance their property risks, experts say. After years of rate increases and reduced…
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Cyber & Technology
January 31, 2024
Record number of ransomware attacks in 2023: Corvus
There was a record number of ransomware attacks in 2023 with a total of 4,496 leak site victims, compared with 2,670 in 2022 and 3,048 in 2021, according to a…
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Property
January 30, 2024
Reinsurance tightening to hit local primary industrial fire markets
The recent January reinsurance renewal saw treaty reinsurers take a tougher stance on large industrial fire accounts that will likely filter through to primary buyers, reinsurance broker Gallagher Re International…
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North America
January 30, 2024
US operation launched by Brace Underwriting
Brace Underwriting, the UK-headquartered capacity provider to alternative risk MGAs, has launched a US operation based in North Carolina. Brace USA will mirror the appetite of its London counterpart, focusing…
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GRM Captives
January 30, 2024
Strategic Risk Solutions to acquire Robus Group from Ardonagh
Strategic Risk Solutions (SRS) is to acquire independent captive and insurance management firm Robus Group from The Ardonagh Group, subject to regulatory approval. Robus has operations in Guernsey and Gibraltar,…
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ESG Insurance
January 30, 2024
Captive owners wise to embrace ESG issues
Captive owners that care about ESG issues will be able to create beneficial and long-term relationships with insurers and reinsurance partners, experts say. They were speaking during a panel session…
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Cyber & Technology
January 30, 2024
Only half of companies confident in AI security, S-RM survey finds
Almost all (97%) of US and UK business leaders plan to increase their use of AI over the next 12 months, in areas other than for IT security, according to…
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Cyber & Technology
January 30, 2024
EU expresses solidarity with Australia following Russian cyberattacks
The European Union and its member states have expressed “solidarity” with Australia on the impact of malicious cyber activities against its healthcare sector, notably against a major health service provider,…
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M&A
January 30, 2024
Howden buys UK risk manager AHR Consultants
Broker Howden has acquired UK risk management group AHR Consultants, which specialises in providing HR support for businesses alongside health & safety compliance guidance, support for risk assessments and fire…