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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…
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Market
April 26, 2024
Aon’s revenues up 5% as it completes $13bn NFP deal
Aon’s revenues rose 5% in the first quarter of this year, by $199m to $4.07bn, with Commercial Risk Solutions delivering a rise of 2% as higher rates delivered a “modestly…
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Climate Change
April 26, 2024
Warmer climate spreading risk of malaria and dengue to new regions
New research from health resilience experts warns that mosquito-borne diseases, including malaria and dengue, are spreading to new regions as the planet becomes warmer, with additional 4.7 billion people around…
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ESG Insurance
April 26, 2024
UN launches new net-zero insurance forum to replace NZIA
The United Nations Environment Programme (UNEP) has disbanded the Net-Zero Insurance Alliance (NZIA) and replaced it with the Forum for Insurance Transition to Net Zero (FIT). UNEP said the aim…
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UK/Ireland
April 26, 2024
Pen extends fleet capacity deal with Zurich in Republic of Ireland
Pen Underwriting has extended its long-term strategic collaboration with Zurich in the Republic of Ireland in support of Pen’s highly specialist fleet insurance offering, with a multi-year renewal of their…
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Market
April 26, 2024
Mapfre Global Risks boosts profit by 58% despite reduced premiums
Mapfre’s large corporate and industrial unit Global Risks posted a 58% boost to its net result that hit €10.7m for the first quarter of 2024, despite net premiums being down…
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Market
April 26, 2024
Talanx confident of ‘significantly exceeding’ full-year forecast
Hannover-based insurance and reinsurance group Talanx has reported a quarterly consolidated net income of €572m. The group – which contains HDI Global and Hannover Re – said that despite an…
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ESG Litigation
April 26, 2024
The Netherlands sued over PFAS contamination
Eleven environmental organisations are suing the state of the Netherlands in connection with the harmful effects of widespread per- and polyfluoroalkyl (PFAS) contamination in the country. Dutch law firm Knoops’…
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North America
April 26, 2024
US insurers’ profitability unlikely to be impacted by Baltimore bridge collapse
The Baltimore bridge collapse incident is unlikely to impact the profitability of US insurers, according to GlobalData, despite being one of the most significant maritime losses in US history so…
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Market
April 26, 2024
WTW posts 4% higher revenue on mixed rating environment
WTW reported $2.34bn in first-quarter revenue, up 4% overall and 5% on an organic basis from the year-earlier period, in a mixed rating environment with pricing increasing in some lines…
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ESG Insurance
April 26, 2024
New toolkit from TT Club to assist development of ESG policies
Transport and logistics mutual insurer TT Club has produced a toolkit to assist those it insures meet the complex demands developing ESG policies present, providing signposts to strategies and solutions…
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Brokers
April 26, 2024
Gallagher reports 20% revenue increase in Q1 with premiums up 7% at renewal
Arthur J. Gallagher reported double-digit revenue increases in both of its major business segments in the first quarter of 2024, as insurance rates continued to increase across most lines and…
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Brokers
April 26, 2024
Marsh launches global alternative risk solutions practice
A new global alternative risk solutions practice has been launched by Marsh, bringing together its expertise in parametric solutions, alternative risk transfer, captives and complex risk. The broker said the…
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ESG Insurance
April 25, 2024
Insurtech partners with USAID on climate adaptation programme
UK-based insurtech Blue Marble is to scale an innovative financial product in Kenya to strengthen the climate adaptation of coffee farmers connected to global supply chains. It has been made…
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ESG Climate Risk
April 25, 2024
ICEYE in data collaboration with Juniper Re on flood and wildfire
Satellite-powered disaster management solutions provider ICEYE has formed a new data collaboration with Juniper Re, the reinsurance broking arm of BRP Group. ICEYE said Juniper Re will leverage ICEYE’s flood…
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GRM People Moves
April 25, 2024
Senior appointments in Lockton’s crisis management team
Lockton has made two senior promotions within its crisis management team. Helen Sandford has been appointed head of special crime and Freddie Schlesinger has been appointed head of product recall…
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Market
April 25, 2024
European rates up overall but financial and cyber lines falling: Marsh
European insurance rates rose by a further 3% in the first quarter of 2024 across the board, but the softening in financial lines and cyber continued, according to Marsh’s latest…