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GRM Insurance
XL Catlin hikes available terrorism insurance limits in US
XL Catlin has raised its available terrorism insurance limits by 25%, to $250m from $200m in response to calls from clients for higher levels of coverage. XL Catlin’s standalone terrorism…
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Captives
Cayman Islands insurance industry reports strong start to 2017
The Cayman Islands insurance industry has seen a “buoyant start to 2017”, with eight new insurer licences issued in the first quarter, according to the Insurance Managers Association of Cayman…
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Asia
Malaysian insurance regulator may seek greater enforcement of foreign ownership cap
The regulator in Malaysia is reportedly looking at taking a stricter line on foreign ownership of insurers, according to Bloomberg. The news agency said Bank Negara Malaysia was considering tougher…
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Global Risk Manager
Argo to take $16.5m hit in Q1 2017 earnings
Argo Group International Holdings, the Bermuda-based underwriter of specialty insurance and reinsurance products, has warned that its first quarter 2017 earnings will be adversely impacted by about $16.5m relating to…
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CRE Risk Management
Cambridge University building risk model for large corporates
The Cambridge Centre for Risk Studies (CCRS) is developing a global risk modelling tool to help corporates better understand the potential impact of extreme events such as natural catastrophes, disease…
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CRE Insurance
Over 40% of larger UK firms suffered cyber attack in past year finds British Chambers of Commerce
One in five UK businesses have been victims of cyber attacks in the past year with this number rising to 42% for larger firms employing over 100 staff, finds a…
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Asia
Singapore scores high in global talent poll
Singapore has been ranked as the second best place in the world for attracting, retaining and developing talent, according to the Global Talent Competitiveness Index (GTCI). The index, produced by…
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Asia
India’s regulator issues insurers with new guidelines for cyber security
The Insurance and Regulatory Development Authority of India (IRDAI) has proposed a new information and cyber security framework for the insurance sector, mandating the appointment of a chief information security…
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Asia
Indian tycoon Mallya arrested in London on fraud charges
The boss of F1 motor racing team Force India and former head of liquor company Kingfisher has been arrested in London on behalf of Indian authorities, on charges related to…
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CRE Legal Regulation
US insurers urged to monitor tax reform proposals
Insurance companies in the US could face increased taxation and should closely monitor the debate over tax reform proposals and model their potential effects, according to Ernst & Young. In…
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Asia
Head of Chinese insurance regulator dismissed in sector crackdown
The chairman of the China Insurance Regulatory Commission (CIRC) has been dismissed, following his investigation for “serious disciplinary violations”. According to local media, Xiang Junbo will be replaced temporarily by…
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CRE People Moves
XL Catlin hire boosts commercial bonds business
XL Catlin has appointed Maria Duhart as head of commercial bonds. Based in Summit, New Jersey, Ms Duhart reports to Dan Riordan, global head of political risk, credit and bond,…
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Africa
Geopolitical and people risk leading threats to construction industry
Geopolitical and people risks in an increasingly globalised operating environment are the biggest concerns of construction industry executives surveyed by Willis Towers Watson. Coming to terms with the threats and…
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Asia
Swiss Re plans Asian reinsurance hub in Singapore
Swiss Re, the world’s second largest reinsurer, is to establish a regional headquarters for its reinsurance business in Singapore, in 2018. The new HQ, which will be wholly owned by…
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Analysis & Opinion
A legal guide to cyber BI cover in Asia
Business interruption (BI) insurance, in the traditional context of commercial property insurance, is well established. While in Asia BI wordings are largely consistent, the wordings found in most traditional BI…
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CRE Insurance
UK firms ditching preparation for GDPR in light of Brexit: survey
A survey has revealed that almost half of UK companies polled believe the forthcoming EU General Data Protection Regulation (GDPR) will not apply to them after Brexit, with a quarter…
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Asia
Insured losses from Cyclone Debbie to top $1.3bn: Swiss Re
Total insured losses resulting from cyclone Debbie are estimated to cost at least $1.3bn due to a significant number of commercial and corporate claims, according to reinsurer Swiss Re. The…
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CRE Insurance
Wordwide Broker Network adds two new European members
Worldwide Broker Network (WBN) has added two new European members from Germany and Croatia to its broking and employee benefit network. Germany-based human resources management consulting company Lurse AG joins…
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Africa
Botswana most attractive for investment into Africa
Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016. Produced by Quantum Global Research Lab, the Index found…
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CRE Insurance
Paulson to leave AIG board as Hancock bonus withheld
Activist shareholder John Paulson will leave AIG’s board of directors, confirmed a proxy filing with the US Securities and Trade Commission which also explained that outgoing president and CEO Peter…