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GRM Captives
November 10, 2023
France and Lloyd’s set out their pitch for captive business
Europe’s captive market is set for new competition with the emergence of separate initiatives from Lloyd’s of London and France. Representatives from both Lloyds and the newly formed French Federation…
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Marine
November 9, 2023
Marine hull risk managers face prolonged hard market as dark clouds gather
Marine hull insurers are enjoying a healthy period with strong premium growth on the back of a tighter insurance market, renewed underlying activity and decent loss ratios, according to latest…
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Climate Change
November 9, 2023
Insurers called out for ‘greenwashing profits’ from fossil fuel underwriting
Insurers are prioritising profits over the planet by continuing to underwrite projects for fossil fuel companies, according to campaign group Insure Our Future. Naming the world’s most active insurers of…
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Market
November 9, 2023
Zurich reports 9% premium growth driven by rates
Zurich Insurance Group has reported property/casualty insurance revenue up 9% for the first nine months of 2023, driven by strong growth in commercial and retail insurance. Gross written premiums (GWP)…
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Market
November 9, 2023
Hannover Re profits up, uptick in frequency losses
German reinsurance group Hannover Re has posted healthy third-quarter and nine-month results, despite experiencing an uptick in higher frequency losses. Hannover Re’s nine-month net income increased by 25% to €1.4bn,…
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GRM Captives
November 9, 2023
Collaboration is key for captives managing cyber risk
Now is the time for companies to consider using their captives for managing cyber risk, according to a panel of insurers and cyber risk specialists. However, companies should also stop…
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CRE Insurance
November 9, 2023
Nat cat, US liability and construction set for tough renewal
The insurance market is looking much more stable for European buyers at year-end renewals but there remain some difficult areas – such as cat-exposed property, US liability and construction risks…
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Marine
November 9, 2023
IUMI reports strong growth in marine insurance on back of tight market
Reduced insurance capacity and higher premiums combined with increased activity and higher asset values delivered significant growth for the global marine insurance market in 2022, according to latest statistics from…
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ESG
November 9, 2023
The importance of building climate resilience
When it comes to achieving the climate goals set forth in the Paris Agreement, optimism has waned among experts worldwide. What has not changed is the urgency with which the…
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GRM Partner Content
November 9, 2023
The latest generation of AI: Hacker tool or automated defence system?
ChatGPT created hype around AI at the end of 2022. Experts, on the other hand, have been fascinated by artificial intelligence (AI) and its subfields, such as machine learning or…
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Executive & D&O
November 9, 2023
Bankman-Fried withdraws D&O lawsuit against CNA
FTX founder Sam Bankman-Fried, who was found guilty earlier this month of stealing from customers of his now-bankrupt cryptocurrency exchange, has withdrawn a coverage lawsuit he filed against a CNA…
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CRE Legal Regulation
November 9, 2023
Drinks companies accused of greenwashing plastic bottle recycling claims in Europe
A European consumer group has filed a greenwashing complaint to European authorities against major soft drinks companies using plastic bottles including Coca-Cola, Danone and Nestlé. BEUC, together with 13 national…
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M&A
November 9, 2023
James River agrees to sell reinsurance unit to Fleming
James River Group Holdings said it will sell JRG Reinsurance Company, its third-party casualty reinsurance business, to Fleming Insurance Holdings, a portfolio company of Altamont Capital Management LP, for an…
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ESG Regulation
November 9, 2023
UK to regulate ESG ratings industry, reports
The UK government is planning to regulate the ESG ratings industry, according to the Financial Times. The newspaper said that UK ministers intend to unveil formal proposals as early as…
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CRE Insurance
November 9, 2023
Insured losses from Europe’s storm Ciarán up to €1.3bn: Verisk
European storm Ciarán is estimated to have caused insured losses of between €800m and €1.3bn, according to initial estimates from Verisk. Ciarán hit the UK and the Channel Islands with…
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Brokers
November 9, 2023
Irish broker Arachas joins Brokerslink as affiliate
Brokerslink has added Ireland’s largest nationwide insurance broker, Arachas, to its network as an affiliate. In 2020, Arachas joined the Ardonagh Group, which extended their reach to over 100 offices…
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North America
November 9, 2023
US E&S lines see increased business and profitability
Increased business for the US excess and surplus (E&S) lines insurance segment, due to declining capacity in commercial lines and some personal lines markets, has seen AM Best revise its…
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GRM Captives
November 9, 2023
Captives regulators address talent shortage
If you thought it was hard to attract talent to the insurance industry, spare a thought for the niche that is regulators in the captive insurance market. “We have an…
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Association News
November 8, 2023
Sirm members told to focus on people as work culture shifts
The corporate risk and insurance management community in Switzerland and across Europe has faced a challenging time in recent years, with the rise of permacrises such as Covid-19, the war…
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Insurance
November 8, 2023
Sirm members told AI to transform corporate insurance market
The risk management sector and the commercial insurance market may well be heading for a rapid period of change – driven by the rise of AI and the evolving risk…