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Asia
Chubb appoints Grant Cairns to new private equity role
Chubb has appointed Grant Cairns to the new role of private equity practice leader for its overseas general unit, which covers all regions outside the US. Mr Cairns is currently…
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CRE Insurance
IAIS progresses down path of ICS convergence
The International Association of Insurance Supervisors (IAIS) has announced what it calls “a unified path to convergence of group capital standards, in furtherance of its ultimate goal of a single…
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CRE Insurance
Greek Pension Fund contribution reintroduced
Greece has reintroduced the TEAAPAE (Greek Pension Fund) contribution, which was abolished in 2014, according to insurance premium tax compliance consultancy Impendulo. A Ministerial Decree (no. 0 AT10/F.51020/48217/755) p... Want…
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Africa
ATI launches services in Zimbabwe
Credit insurer African Trade Insurance Agency (ATI) has launched its services in Zimbabwe, after signing an agreement with the central government. ATI’s chief executive officer, George Otieno, said ATI is…
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Africa
Protectionism picks up across EMEA economies – report
Globalisation has come to a grinding halt in many EMEA insurance and reinsurance markets, with the rise of populist and nationalist sentiments ushering in protectionist measures designed to safeguard local…
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Benelux
Aon shrugs off sharp drop in profits with new acquisitions
Aon has completed its €295m acquisition of leading independent Netherlands broker Unirobe Meeùs Group (UMG) and announced an agreement to acquire UK broker Henderson Insurance Broking Group for an undisclosed…
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CRE Insurance
CII calls on insurers to rise to new gender pay gap rules
UK insurance body the Chartered Insurance Institute (CII) has issued a “call to action”, urging its members to publish gender pay gap statistics in advance of new mandatory requirements that…
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CRE Insurance
AIG posts $1.7bn Q3 loss on back of catastrophes and reserving
AIG has posted a larger than expected loss in the third quarter of 2017, after heavy catastrophe claims and a surprise reserving charge for commercial insurance. The New York-based insurance…
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CRE Insurance
Swiss Re will boost capacity for US nat cat risks if rates rise
Swiss Re said it is “willing to put capacity to work” and increase its exposure to US catastrophe risks if rates improve as anticipated, following the large losses incurred during…
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Africa
Lonmin risk manager tops the South Africa risk awards for 2017
Brendan Maseti has scooped the Risk Manager of the Year 2017 award at the Institute of Risk Management South Africa’s annual awards ceremony. The group risk manager for Lonmin pipped…
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Asia
RBC regulation intensifies across Asia-Pacific region
Asia Pacific countries are moving ahead with new risk-based capital (RBC) regulatory frameworks, according to Aon Benfield, which has just released its Solvency Regulation Report 2017. The report outlines the…
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CRE Insurance
AIG appoints CEO international general insurance, and chairman of AIG Risk Management
American International Group (AIG) has appointed Chris Townsend as chief executive officer, international general insurance. He will lead the international operations of AIG’s general insurance business, in this newly created...…
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CRE Insurance
Allianz Worldwide Care announces company rebrand
Allianz Worldwide Care has changed its name to Allianz Partners and its international health and life insurance products and services are now being promoted under the Allianz Care product brand.…
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Africa
Intra-Africa trade set to become easier
Private sector businesses are confident of boosting more trade between Ghana and Kenya as the African Union (AU) designs a Continental Free Trade Area (CFTA) by the end of 2017.…
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CRE Insurance
Swiss Re reports $762m loss at Corporate Solutions and $1bn capital injection
Swiss Re has reported a loss of $468m for the first nine months of this year including a $762m loss at its Corporate Solutions business, which has needed a $1bn…
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CRE Insurance
Board and c-suite concern over cyber risk falls: survey
An annual survey from Advisen suggests that fewer board members and executives are worried about cyber risk, as concern fell for the first time in seven years. The research also…
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Africa
Risk around urban population growth increases in South Africa
Investors and businesses need a safe place to operate, however the growth in South Africa’s cities continues to cause concern. According to the recently published 2017 State of Urban Safety…
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Africa
African reinsurance market offers opportunity despite challenges
The African reinsurance and insurance markets continue to offer opportunities, despite the challenges, according to Corneille Karekezi, group managing director and CEO of Africa Re. Speaking at the 22nd African…
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Africa
Ease of doing business improves across Africa
Businesses and governments alike have welcomed findings from the World Bank, which show that Sub Saharan Africa economies adopted a record number of business reforms for a second consecutive year.…
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Asia
GFIA highlights increasingly protectionist environment
The annual report of the Global Federation of Insurance Associations (GFIA) has highlighted that an increasingly protectionist environment threatens open trade and market access in (re)insurance. In an article in…