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Asia
International SOS to promote work travel safety at Singapore summit
Singapore’s Ministry of Manpower is lending its official support to a campaign to establish principles of prevention for business travel. The campaign is led by travel security services firm International…
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Africa
African insurance markets growing despite economic headwinds
Africa’s insurers remain upbeat about the prospects of their markets, according to the second Africa Insurance Barometer, launched last week at the 44th AIO Conference & General Assembly in Kampala,…
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Africa Re enjoys 3% premium growth
In the first quarter of 2017, Africa Re recorded growth of 3% in its gross written premium, up to $167.13m, driven by new business in west Africa. It also benefited…
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Asia
Beazley, Chaucer and Talbot form Singapore political risk consortium
Three insurers in the Lloyd’s market have joined forces to form a political risk consortium in Asia, offering large-scale capacity for a wide range of political and contract frustration risks.…
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Asia
Hong Kong and mainland China regulators sign agreement on equivalence assessment
Hong Kong’s Office of the Commissioner of Insurance and the China Insurance Regulatory Commission (CIRC) have signed an agreement to conduct an equivalence assessment on the insurance solvency regulatory regimes…
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CRE Insurance
WannaCry likely to be start of new trend, warns AM Best
The global scale of last week’s WannaCry ransomware attack is likely to be the start of a new trend in cyber risk, according to AM Best. The rating agency also…
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CRE Insurance
AXA Poland set to grow employee benefit business with multinationals top target
AXA’s Polish insurance company has paved the way to expand its employee benefits business and increase its list of global clients. AXA Poland has announced that it will work more…
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CRE Insurance
Liberty Specialty appoints head of commercial business development
Liberty Specialty Markets (LSM), Liberty Mutual’s London operation, has promoted Laura Burns as head of business development for commercial business. Ms Burns will be responsible for managing LSM’s broker relationships…
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BI
Fenchurch Law appoints new associate
UK firm Fenchurch Law, which specialises in complex insurance disputes and works solely for insureds, has appointed Alex Rosenfield as an associate in its professions team. Fenchurch Law said Mr…
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CRE Risk Management
Macron stymies anti-EU movement but global geopolitical risk remains uncertain: Verisk Maplecroft
Despite the recent election of a new moderate French president tempering the anti-EU movement, today’s global geopolitical picture remains unstable with the buck stopping largely at the door of the…
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CRE Insurance
EY makes six recommendations to mitigate ransomware risk
EY has made six recommendations to help organisations better protect and defend themselves from ransomware attacks such as the recent WannaCry outbreak, including making full use of business continuity plans…
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CRE Insurance
Chubb appoints Lord Adair Turner as non-executive chair in Europe
Chubb has appointed Lord Adair Turner as non-executive chairman of two European companies; Chubb European Group and Chubb Underwriting Agencies Ltd. Lord Turner will take over these positions from John…
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Africa
High prices costly for Kenya insurers
An insurance insider in Kenya says the cost of insurance services is too high, making it unaffordable for many people who therefore prefer unsustainable methods of insurance like fundraising to…
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CRE Insurance
Risk exposure of EU insurance sector remains stable, says EIOPA
The risk exposure of the European Union insurance sector remains stable and some improvements were observed, according to the European Insurance and Occupational Pensions Authority (EIOPA). In its latest Risk…
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Africa
Government hopeful of smooth Kenyan election, as African finance ministers voice confidence for future
Kenya is expected to go through a smooth and non-violent election, according to Dr Geoffrey Mwau. Dr Mwau, director general/budget, fiscal and economic affairs at Kenya’s treasury, said: “We saw…
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CRE Insurance
Large corporates emerge relatively unscathed from WannaCry
The effects of the WannaCry ransomware attack are likely to be limited in the corporate world with losses and insurance claims curtailed primarily because it exploited unpatched and older Windows…
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CRE Insurance
Markel chooses Germany for post Brexit subsidiary
Markel Corporation announced this morning that it will establish a new German insurance company in direct response to the UK’s decision to exit the European Union and ensure it can…
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Association News
US-EU covered agreement on reinsurance benefits members, says RIMS
RIMS, the US risk management society, has declared its support for the recently proposed US-EU covered agreement on reinsurance. In a letter to Steven Mnuchin, Secretary of the Treasury, US…
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CRE Insurance
IFRS 17 to make analysis of insurer accounts easier, but also add cost
Risk and insurance managers should be pleased to hear that the International Accounting Standards Board (IASB) today finally published IFRS 17, the new global accounting standard designed to make insurance…
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Association News
Risk management role evolving positively in the Netherlands: Narim
The Dutch risk management association Narim is attracting growing interest from younger risk managers as it continues to evolve from its core insurance management supporting function. More experienced Narim members…