-
Global Risk Manager
Bermuda market balancing innovation with discipline but struggling with profitability
The Bermuda market is struggling to generate profits sufficient to cover the cost of capital despite its best efforts to try to adapt to the persistent challenging underwriting and investment…
-
CRE People Moves
Two new producers at JLT Fac in London
JLT Fac has made two new appointments. Mark Leonard joins as a partner and a senior construction producer. He was most recently at Guy Carpenter for six years and, before…
-
CRE Insurance
Lloyd’s chooses Brussels as EU hub
Lloyd's will establish a new European subsidiary in Brussels to protect its EU business after Brexit. The announcement came just one day after the UK triggered Article 50 of the…
-
Africa
Fortune 500 firms look to new markets in Africa
Major corporations are continuing to expand operations in the Middle East and Africa (MEA) as they seek to look beyond ‘traditional’ markets into ones that offer new opportunities for development…
-
CRE Insurance
New and more costly claims driving up liability losses: AGCS
Corporate risk managers are facing larger and more complex losses resulting from a growing number of liabilities than ever before, according to a new report from Allianz Global Corporate &…
-
Association News
Ferma backs EC programme to improve ELD implementation
Risk management federation Ferma has welcomed the European Commission’s proposals to improve implementation of the European Environmental Liability Directive (ELD) over the next three years, rather than introduce new rules…
-
Asia
Sompo closes $6.3bn Endurance deal to create new global carrier
Japanese insurance giant Sompo Holdings has received all the regulatory approvals needed to complete its $6.3bn acquisition of Endurance Specialty Holdings and the formation of Sompo International under the leadership…
-
Geopolitical
Markel International to write trade credit business in Canada
Markel International is looking to develop its trade credit and political risk business in Canada after successfully developing the line in New York. Markel Canada, established in 1966, with offices…
-
Asia
Local CEOs promote risk management at Parima’s Manila conference
The chief executives of two prominent Philippines corporates were the star speakers at the recent Pan-Asia Risk and Insurance Management Association (Parima) conference – the first to be held in…
-
Association News
Brexit should have minimal impact on insurance buyers says Airmic
As the UK triggers the process of leaving the EU, its insurance and risk management association Airmic has said there should be only a minimal impact on insurance buyers. The…
-
Africa
African exposure to Brexit developments is significant
The degree of exposure for the African continent in relation to Brexit developments varies, but is significant given the continent’s close historic and cultural ties to the UK, according to…
-
CRE Insurance
BIBA calls for barrier-free, tariff-free access to the EU market
The British Insurance Brokers’ Association (BIBA) has warned that the UK’s leading position in the European insurance market is under serious threat if there is no clear agreement in place…
-
CRE Insurance
Chaucer appoints Murphy to senior class underwriter role
Chaucer, the specialist Lloyd’s insurance group, has appointed Joe Murphy as senior class underwriter in the casualty division. He will write primarily US general liability business through Chaucer Syndicate 1084,…
-
Asia
Asia contributes to 42% increase in insured global disaster losses in 2016
Insured losses from global disasters increased by 42% in 2016 to $54bn from $38bn, according to Swiss Re Institute’s sigma report. Although in line with the ten-year average, the bill…
-
CRE Insurance
AM Best upgrades credit ratings of Endurance Specialty Holdings and subsidiaries
Following the completed acquisition of Endurance Specialty Holdings by Sompo Holdings, AM Best has removed Endurance Specialty Insurance Ltd. (Bermuda) and its subsidiaries from under review with positive implications and…
-
Asia
Singapore insurance sector posts lower profits as competition intensifies
Intense competition in a mature and competitive economy meant that Singapore’s non-life insurance sector posted premiums slightly up but reduced profits for 2016, according to the General Insurance Association of…
-
Asia
APAC to lead insurance M&A deals: KPMG
Asia Pacific is predicted to be at the forefront of renewed mergers and acquisition (M&A) activity in the global insurance sector, according to a survey conducted by KPMG. The survey…
-
CRE Insurance
BIBA and Mactavish partner to launch claims resolution scheme
The British Insurance Brokers’ Association (BIBA) has teamed up with insurance governance company Mactavish to launch a resolution scheme for large and complex claims. BIBA said the scheme could reduce…
-
CRE Insurance
New challenges emerge for European insurers in 2017
European insurers will face a greater set of challenges in 2017 than last year, according to credit rating firm Dagong Europe, with new risks emerging alongside new opportunities. Growing competition…
-
Asia
Myanmar courts foreign insurers via Thilawa SEZ
Myanmar has stepped up its economic liberalisation efforts by opening up its special economic zone (SEZ) in Thilawa to international insurers. Myanmar’s only SEZ, a joint venture between Japan and…