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CRE Insurance
Cyber: A fast maturing market but take-up remains low
Juan Aznar Gáldiz, managing director of HDI Global in Spain, said that awareness of the critical nature of cyber risk is rising. Corporate risk managers and cyber insurance both have…
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Analysis & Opinion
Brexit and EU competition law
The UK has formally notified European partners of its exit from the EU and negotiations on the terms have now commenced. Much will depend on the content of any exit…
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CRE Insurance
Cyber market not perfect, but coming of age
Companies of all sizes have to face up to the harsh reality that they will suffer a cyber attack at some point and therefore need to take this threat extremely…
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GRM Insurance
Travelers acquires UK online insurer Simply Business
Travelers, the US insurance giant, has acquired Simply Business, an insurer of small businesses in the UK. The company has more than 430,000 microbusiness customers, covering more than 1,000 classes…
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GRM Insurance
AmTrust profits hit by catastrophe losses
Multinational specialty insurer AmTrust Financial Services announced second-quarter 2017 net income of $5.8m, compared with $127.2m in the second quarter 2016. AmTrust said net income and operating earnings in the…
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Africa
Kenyatta takes lead as leaders appeal for calm
Sitting president Uhuru Kenyatta appears to have taken the lead after Tuesday’s election in Kenya. Risk managers across the country have been anxiously waiting for the election day, with fears…
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Africa
Fitch affirms African Development Bank rating
Fitch Ratings has affirmed the African Development Bank's (AfDB) long-term issuer default rating (IDR) at AAA with a stable outlook, and short-term IDR at F1+. It said the AAA rating…
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CRE People Moves
Markel expands Southeast Asia political risk team
Markel International has appointed Alex Holcroft as political risk underwriter in Singapore. He joins the existing trade credit and political risk team serving the Asia-Pacific region and will report to…
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GRM Insurance
Blenheim launches specialty reinsurance division
Blenheim has appointed John Cutts to develop a specialty reinsurance division within Lloyd’s Syndicate 5886, subject to relevant regulatory consents. Mr Cutts will take up his role in 2018 upon…
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CRE Insurance
Allianz reports big rise in net income in second quarter 2017
Allianz has reported an 83.4% rise in net income in the second quarter of 2017 to €2.0bn, with total revenues increasing by 2% to €30.0bn. Operating profit amounted to €2.9bn,…
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Africa
IMF predicts 5% growth for Botswana
Supported by a gradual rebound in the global diamond market and public investment, annual real GDP growth in Botswana is projected to approach 5% in the near term, according to…
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GRM Insurance
BRIT grows specialty biz, ups reinsurance protection
BRIT, the largest Lloyd’s-only insurer, grew gross premiums by 6% to $1.093bn and net earned premiums by 0.6% to $740.7m at the interim stage, compared with the same period last…
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CRE Insurance
Improved H1 profit and combined ratio for AGCS but premiums fall
Allianz Global Corporate & Specialty (AGCS) delivered increased profit and an improved combined ratio for the first half of this year, helping its parent company achieve impressive H1 figures. However,…
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CRE People Moves
Alesco’s energy division makes substantial new hires
Alesco Risk Management Services, the specialty broker, has made a number of senior hires in its energy division. David Hallows joins as partner, reporting to Simon Clarkson, head of Alesco’s…
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Africa
Global insurance M&As decline in first half of 2017 says Clyde & Co report
Mergers and acquisitions (M&A) worldwide in the insurance industry have continued to decline, reaching a two-year low, according to Clyde & Co. The law firm states that increased regulation and…
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Captives
US rated captives continue to perform strongly, says Best
AM Best-rated US captives saw pre-tax profits increase by nearly 16% in 2016 to $1.6bn, with premiums increasing by 3.2%, reversing the slight declines of recent years. Best currently rates…
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CRE Insurance
Axa reports P&C earnings and revenue growth in first half of 2017
Axa has reported a 6% increase in property and casualty (P&C) earnings to €1.35bn in the first half of 2017, partly due to a significantly improved current year combined ratio.…
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CRE Insurance
EU insurance sector’s risk exposure remains stable, says EIOPA
The risk exposure of the insurance sector in the EU remained stable in the first quarter 2017, according to the European Insurance and Occupational Pensions Authority’s (EIOPA) Risk Dashboard. EIOPA…
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CRE Insurance
Insurance Europe calls for less prescription in IAIS’s reinsurance ICP
Insurance Europe has called on the International Association of Insurance Supervisors (IAIS) to refrain from being overprescriptive in certain provisions in its revisions to Insurance Core Principle (ICP) 13, regarding…
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Alesco’s energy division makes substantial new hires
Alesco Risk Management Services, the specialty broker, has made a number of senior hires in its energy division. David Hallows joins as partner, reporting to Simon Clarkson, head of Alesco’s…