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CRE Insurance
AIG partners with TradeIX for first blockchain trade finance transaction
AIG has completed the first ever blockchain-enabled trade finance transaction, with TradeIX. The blockchain transaction was on behalf of a logistics company, with financing provided by Standard Chartered bank and…
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CRE Insurance
Brokers confident in London market post-Brexit
The majority of brokers (80%) are confident that London will retain its position as the world’s leading insurance market post-Brexit, according to a survey published by legal expenses insurer DAS…
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CRE Risk Management
EC ‘illegal state aid’ ruling lands Amazon with €250m bill for dodging tax
The European Commission (EC) has ordered Amazon to pay €250m in back taxes after finding that Luxembourg was too lenient in its tax demands on the online retailer, which the…
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CRE Insurance
Hurricanes to wipe out profits for US P&C insurers
US P&C insurers are almost certain to close 2017 in the red after losses from this year’s hurricane season find their way onto the balance sheet, according to Verisk’s ISO…
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Africa
Dramatic expansion of US sanctions on North Korea
On 21 September 2017, the US dramatically expanded the scope of US sanctions that apply to those who do business with North Korea. These new sanctions target not only foreign…
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CRE Insurance
Bank of England airs Brexit risks to insurance contracts
Disruption of multi-year insurance contracts and new barriers to the flow of personal information are two risks identified by the Bank of England that could result from the UK leaving…
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Asia
Kennedys opens new offices in Thailand and France
Law firm Kennedys has opened new offices in Bangkok and Paris. The Bangkok office will be headed up by Suraphon Rittipongchusit, who joins from DLA Piper (Thailand) where he was…
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Asia
Japanese insurers expanding overseas operations, says Moody’s
Japanese insurers are showing stronger support for their overseas subsidiaries, according to Moody’s. The ratings agency said that Japanese insurers are showing a growing commitment to expanding their overseas operations,…
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Asia
Rising IP risks underinsured
Intellectual property (IP) exposures are on the rise, but largely underinsured in many companies, according to a leading IP underwriter. IP exposures have been growing as companies realise the value…
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CRE Risk Management
Risk management on the up
Current European Risk Manager of the Year Heljo Laukkala, vice-president of corporate risk management at Finland-based Metso Corporation, said winning his award has provided a lot of personal benefits and…
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CRE Risk Management
Rising star
Pauline Davoust, global manager of risk and insurance at Gate Group in Switzerland, won Rising Star of the Year at the inaugural European Risk Manager of the Year Awards held…
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Asia
Sompo forges ahead with creation of global platform following Endurance acquisition
Sompo International Holdings (SIH), the Bermuda-based specialty insurer and reinsurer formed earlier this year following the acquisition of Bermuda’s Endurance by Japan’s Sompo for $6.3bn, this week announced the creation…
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CRE Insurance
Risk management software firm Ventiv acquires Webrisk
Ventiv Technology, the US-based provider of risk management information systems (RMIS), has acquired Webrisk, the RMIS previously owned by risk and (re)insurance systems provider Effisoft, for an undisclosed sum. The…
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Asia
AGCS plans product recall expansion with new appointment
Allianz Global Corporate & Specialty (AGCS) has appointed Simon Weaver as senior underwriter for product recall in London as part of the company’s expansion of its crisis management team. AGCS…
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CRE Insurance
Willis Towers Watson appoints Mapfre Re’s facultative reinsurance execs to lead new German hub
Willis Towers Watson has launched a new facultative reinsurance hub for corporate clients in Germany, Austria and Switzerland (DACH). The hub, based in Munich, will be headed up by Gerhard…
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Asia
Rate increases likely as record cat losses take toll
With predictions of record catastrophe losses for insurers in 2017, premium rate increases look increasingly likely in 2018. However, with near-record levels of capacity and recent growth in alternative capital,…
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Asia
QBE predicts record loss year for insurance industry and announces $600m hit
2017 is likely to beat all records and become the costliest year in the history of the global insurance industry, according to insurer QBE, as it announced an increase in…
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CRE Insurance
Lloyd’s CEO Inga Beale urges business to make diversity a priority
Businesses across all industries must prioritise acceptance of diversity and gender in the workplace, said Lloyd’s chief executive Inga Beale. In an address at a dinner hosted by Odgers Berndtson,…
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CRE Insurance
Everest Re launches Dublin-based non-life insurer
Everest Re Group has established a non-life insurer in Ireland, based in Dublin, to write a range of specialty commercial insurance products. The new non-life insurance subsidiary, Everest Insurance Ireland,…
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Africa
Munich Re Africa ends relationship with KPMG
Munich Re Africa has announced it is terminating its relationship with KPMG South Africa, as the investigations into KPMG’s conduct in respect of South Africa’s Gupta family continue. Nico Conradie,…