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Asia
Uphill struggle to reform South Korean insurance market, says Axco
The South Korean insurance market is in urgent need of modernisation, but the country’s new President Moon Jae-in will struggle to reform the local insurance market and open it up…
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CRE People Moves
JLT Re poaches credit risk specialist from Guy Carp
Reinsurance broker JLT Re has announced that David Edwards will be joining its credit and political risk team once he has completed his contractual obligations with his current employer, rival…
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CRE Legal Regulation
Fitch paints positive picture for Indonesia’s insurers
Ratings agency Fitch is forecasting a rise in premium growth for Indonesia’s insurance industry, on the back of a predicted 5.3% increase in gross domestic product. More specifically Fitch anticipates…
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Cyber & Technology
Chubb launches packaged policy for technology companies in the UK and Ireland
A first- and third-party policy designed specifically to cater for the insurance needs of technology developers, producers and distributors operating in the middle market either domestically or on a multinational…
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Asia
More changes at the top for AXA’s Asian arm
AXA has announced further changes to its executive team in Asia-Pacific. Jean-Louis Laurent Josi, chief executive officer of AXA Asia and a member of the group’s executive committee, has resigned…
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CRE Insurance
Liberty Specialty Markets confirms Luxembourg as EU base
Liberty Specialty Markets (LSM) has confirmed that it intends to headquarter its post-Brexit EU operations in Luxembourg. LSM will be seeking regulatory approvals to operate via an insurance company and…
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Asia
Specialist cyber insurer opens in Singapore
A new insurer has launched in Singapore, hoping to capitalise on the growing insurtech market in the country. Delta Insurance Singapore (Delta IS) describes itself as “the first cyber, technology…
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Africa
Insurers urged to act to improve access to cover
Microinsurance experts have called on the wider insurance sector to act on widening access to insurance worldwide. A group of experts met for a Microinsurance Network event in Luxembourg to…
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Asia
Guy Carpenter launches Asian retrocession service
Global reinsurer Guy Carpenter has launched a new unit dedicated to providing retrocession services to clients in Asia-Pacific. GC Asia-Pacific Retro will offer a range of retrocession property solutions, linked…
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Africa
Piracy attacks increase in first quarter 2017
Marine piracy increased in the first quarter of this year compared to the same period of 2016, as piracy hotspots continued off Nigeria and around the southern Philippines, according to…
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Association News
Risk managers hope writing is on wall for annual renewal
Leading insurance managers and Airmic are frustrated by the annual renewal process and have called on insurers to streamline a system that they argue is now out of date. The…
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CRE Insurance
London market insurers see continued soft market and some broadening of conditions
London market insurers foresee another year of continued softening in premium rates and some evidence of widening in terms and conditions, according to the UK’s Prudential Regulation Authority (PRA). However,…
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Captives
Compre gets approval to establish protected cell company in Malta
Legacy specialist Compre has received approval from the Maltese Financial Services Authority to establish an insurance company in Malta. Compre will form the company by transferring the domicile of London…
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Global Risk Manager
Swiss Re Corporate Solutions joint venture with Bradesco Seguros begins operation in Brazil
Swiss Re Corporate Solutions has completed its joint venture transaction with Brazilian insurer Bradesco Seguros SA, a company controlled by Banco Bradesco. Bradesco Seguros' commercial large-risk portfolio has been integrate...…
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Africa
Whistleblowing culture still needs work
Whistleblowing programmes across Africa, Asia and Europe are improving, according to the latest published benchmark report from Navex Global on whistleblowing programmes, but the regions still lag behind global reporting…
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CRE Insurance
UK businesses resist cyber cover despite WannaCry event
The recent WannaCry ransomware virus was heralded as the wake-up call for businesses vulnerable to cyber attacks – but many have pressed the snooze button, according to a recent survey.…
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CRE People Moves
Fidelis and Rob Ashton create specialty E&S joint venture
Bermuda-based Fidelis Insurance has initiated a new venture with Rob Ashton, former head of specialty at Hiscox Re Specialty. The new venture, which will begin underwriting on 1 January 2018,…
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CRE People Moves
Markel International makes big push into media sector with more hires
Markel International has appointed Nicola Marshall as senior underwriter and Joe Wornham as underwriter, to develop a multimedia and film and TV error and omissions offering, focused on the media…
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CRE People Moves
Argo Pro adds two top executives to its US FI and A&E units
Argo Pro, part of Argo Group International, has announced the appointments of Mary Henderson as senior vice-president, head of financial institutions, and Dan Gmelin as vice-president, underwriting, architects and engineers…
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Global Risk Manager
Moody’s sees weak US commercial pricing in 2017
US commercial pricing remains weak in 2017, according to Moody’s Investors Service’s annual rate change and trend survey of the US property/casualty sector. On the other hand, the report notes…