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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…
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CRE People Moves
Pioneer Underwriters adds to fin services unit in New York
Pioneer Underwriters has appointed Rolando Rodriguez as vice president of diversified financial services at Pioneer Special Risk (PSR). He is based in New York and reports directly to Brian Hickey,…
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Analysis & Opinion
Broker remuneration: Let’s sort it out this time!
The thorny topic of broker remuneration raised its ugly head again last month and we have to say this has been coming for quite a while now. Airmic, the UK…
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CRE Insurance
US casualty market to soften despite AIG troubles
Softening US casualty insurance market conditions looks set to continue, despite massive reserve additions at AIG. In February, AIG posted an $849m loss for 2016 after adding $5.6bn to its…
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CRE Insurance
London bids to improve claims handling in subscription market
Key underwriting groups in the London market have approved a Single Claims Agreement model proposed by brokers, which will allow lead carriers to authorise non-complex claims up to a specified…
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CRE Insurance
Insurers strive to improve claims process
As competition becomes increasingly fierce in the insurance market, underwriters are trying to improve claims handling and service. Initiatives range from the use of technology, such as drones and improved…
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CRE Insurance
HDI Global maintaining a smooth line
Recent results from the international insurance and reinsurance market, not least AIG, have shown once again how difficult it can be to maintain a steady and consistent growth path in…
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CRE Insurance
Generali in for the long run
The international corporate insurance market is becoming increasingly difficult as carriers struggle to balance stubbornly competitive underwriting conditions and low investment returns. There are few signs of this changing, ...…
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Energy insurance stuck in soft market, but conditions can change quickly warns Willis
Global energy insurance markets are still stuck in a softening market, albeit a decelerating one, according to Willis Towers Watson’s Energy Market Review for 2017. But whilst this may be…
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Africa
Kenya court ends motor insurance price fixing deal
It’s back to the drawing board for Kenya motor vehicle insurers as the regulator-sanctioned price-fixing deal implemented in 2010 has been dismissed by the High Court in Nairobi, giving a…
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Asia
Zurich buys Sydney-based travel insurance provider Cover-More
Zurich Insurance Group has acquired 100% of the issued share capital of Cover-More Group Limited, a leading travel insurance and assistance solutions provider based in Sydney with a strong market…
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Analysis & Opinion
Cyber preparedness and response
Cyber is a word you no doubt read every day, such is the concern around the ever-growing and evolving problem of cyber security. The UK government’s annual Information Security Breaches…
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Africa
Agriculture to drive African economies
Africa must focus on agriculture to drive growth and create jobs on the continent, according to Akinwumi Adesina, president of the African Development Bank (AfDB). Speaking at the Mo Ibrahim…
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Captives
Vermont appoints new director of financial services to replace Dan Towle
The Vermont Agency of Commerce & Community Development has appointed Ian Davis as the next director of financial services. The position is responsible for the marketing, promotion and business development…