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Africa
Concerns growing around Kenya election
Politicians are increasingly worried about post-election violence in Kenya after a senior Kenyan election official was found murdered, three days after he went missing. Chris Msando, the election board's head…
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Africa
Sub Saharan Africa set for stronger growth
Sub Saharan Africa could see a slight improvement in fortunes, although the outlook remains challenging, suggests the International Monetary Fund (IMF). In its latest global outlook report, it states that…
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CRE People Moves
Sompo Canopius hires new credit and political risk analyst
Sompo Canopius has announced the appointment of Bruce Shepherd as credit and political risk analyst. He will head the credit analysis function in the group’s credit, political and crisis division.…
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CRE People Moves
Liberty leads out new equine and livestock teams
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has entered the equine and livestock markets, appointing Julian Bowen-Rees as global head of the new dedicated unit. Based in…
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CRE Insurance
Record level of non-life ILS issuance in second quarter, says Willis
Non-life insurance-linked securities (ILS) issuance has reached record levels, with $6.3bn in the second quarter 2017, according to the latest ILS market update from Willis Towers Watson Securities. The previous…
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Global Risk Manager
Onshore coverholders approved by Uruguyan regulator, says Lloyd’s
Uruguayan regulator, the Superintendencia de Servicios Financieros, has confirmed the use of onshore coverholders is allowed in Uruguay, according to a regulatory communication from Lloyd’s. The move broadens the scope…
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CRE Legal Regulation
Clyde & Co launches ninth US office
Law firm Clyde & Co has opened an office in Los Angeles and hired Jim Koelzer, a lawyer with considerable expertise in representing domestic and international insurers in connection with…
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BI
Dale Underwriting to launch contingency and specialty SPA
Dale Underwriting Partners, which is managed by Lloyd’s third-party managing agency Asta, has been granted in principle approval by the Lloyd’s Franchise Board to establish a special purpose arrangement (SPA).…
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GRM Insurance
Cyber and surety lines boost Aspen’s Q2 premiums
Specialty lines boosted Aspen Insurance’s interim performance. The Bermuda group reported net income after tax of $75.8m for the second quarter of 2017 on the back of gross written premiums…
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Africa
Berenice Francis named as new IRMSA president
The Institute of Risk Management South Africa (IRMSA) has a new president. Berenice Francis has served as a vice-president of the IRMSA for the past year and was elected as…
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Africa
Central African Republic on track with IMF loan
The Central African Republic is performing “satisfactorily” with its International Monetary Fund (IMF) arrangement. The IMF has just released a second interim report on the deal, with Mitsuhiro Furusawa, deputy…
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Africa
New Angolan connection for THB
Insurance and reinsurance broker THB has appointed Rodrigo Botelho as director, European division, from 1 October 2017. Based in THB’s Amsterdam office, Mr Botelho’s duties will include targeting new markets…
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Africa
Rating agency affirms Tunis Re grading
AM Best has affirmed the financial strength rating of B+ (Good) and long-term issuer credit rating of bbb- of Société Tunisienne de Réassurance (Tunis Re). The outlook of these credit ratings is…
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CRE Insurance
Allianz on track to hit upper end of 2017 profit target
Allianz Group said strong second-quarter operating performance has set it on track to meet the higher end of its profit target for 2017. Reporting a 23% increase in operating profit…
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CRE Insurance
Berkshire Hathaway Specialty Insurance builds momentum in UK and southern Europe
Berkshire Hathaway Specialty Insurance (BHSI), the commercial insurance arm of Warren Buffet’s group, is starting to pick up the pace in western and southern Europe after what seemed like a…
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CRE Risk Management
Police have ‘reasonable grounds’ for corporate manslaughter charges over Grenfell Tower fire
Police investigating London’s Grenfell Tower fire, in which at least 80 people died, are considering bringing corporate manslaughter charges against the tower block’s local council and tenant management company, according…
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CRE Insurance
UK introduces new rules for insurance-linked securities to boost market
The UK government has published new rules for insurance-linked securities (ILS) that aim to keep the UK at the forefront of the global reinsurance market. The government said the new…
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CRE Insurance
Premium falls but net results grow for 15 largest European insurance groups, Mapfre research finds
Premium income for the 15 largest European insurance groups fell by 1% in 2016 against the previous year, to €575.9m, due to variations in different exchange rates, particularly the depreciation…
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Captives
New head of Zurich North America’s captive unit
Zurich has appointed Todd Cunningham to head the single-parent and sponsored-cell captives unit for Zurich North America. Mr Cunningham will continue to lead Zurich’s strategic risk solutions group, which specialises…
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Africa
Kenyan insurer CIC reports strong top-line growth
Nairobi-headquartered CIC Insurance Group has registered strong top-line growth and healthy pre-tax profit, with improved quality in most business lines, in its half-year results. The insurer posted a pre-tax profit…