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Asia
Philippines mining spat underlines rising environmental risk in Asia
The scale of the effort to persuade Asian businesses to take a more long-term view of their activities particularly in relation to the environment and climate change has been made…
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CRE Insurance
European Commission launches consultation on role of EIOPA
The European Commission (EC) has launched a public consultation on the operation of the European Supervisory Authorities (ESAs), including the European Insurance and Occupational Pensions Authority (EIOPA). The EC said…
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CRE Insurance
Insurers start raising rates after Ogden change
Insurers have started the first of several expected rate increases for UK liability insurance after changes to the Ogden rate took effect on Monday, according to the Association of British…
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CRE Risk Management
Eurozone stability dips in 2016
Eurozone countries have reported the first dip in economic stability for three years, according to a set of 20 indicators measured by Allianz for its Euro Monitor report. The overall…
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CRE Risk Management
US thunderstorm losses on par with hurricane claims: Willis Re
Thunderstorms property losses in the US are equal to those caused by hurricanes, according to a new report from Willis Re. Severe convective storms totalled an annual average loss of…
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Africa
Senior management views talent scarcity as serious risk
Organisations are facing up to the realities of shifting demographics and new technology in terms of accessing the right talent, with senior management viewing talent scarcity more acutely than HR…
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Captives
Captive run-off acquisitions for Randall & Quilter
Randall & Quilter Investment Holdings (R&Q) has acquired two captive insurance companies in run-off, one in Vermont and the other in Bermuda. The first acquisition is ICDC, a captive insurer…
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Africa
Nigerian insurer sees profits rise 16%
Guinea Insurance has reported a 16.5% increase in gross premium income to NGN1.01bn for the 2015 financial year, against NGN867.99m recorded in 2014, as its chairman promises greater profitability in…
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CRE Insurance
James Tuplin joins XL Catlin to head CMT team in Europe
XL Catlin has poached James Tuplin from rival QBE to be its head of cyber and technology, media and telecoms, international. At QBE he was cyber and TMT portfolio manager,…
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Global Risk Manager
GCC insurers bullish on profitability but concerned about competition
Insurers in the Gulf Cooperation Council (GCC) region are relatively optimistic on profitability but are concerned about competition and low oil prices, according to a survey of chief financial officers…
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CRE Insurance
Europe’s largest insurers buying more reinsurance and retaining less risk, says AM Best
The 20 largest European cedents are still taking advantage of the soft market by buying more reinsurance and retaining less risk, according to a new report from AM Best. However,…
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Africa
New partner for South African risk consultancy as ownership changes
CGF Research Institute has announced that Palmer Business Concepts (PBC) has bought 40% of the shares of the company and has appointed Jene’ Palmer, owner of PBC, as its chief…
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Africa
More than 20,000 organisations join anti-slavery register
More than 20,000 organisations have joined Tiscreport.org, the open data registry committed to helping to end slavery within our lifetimes. The registry said organisations, from across the world, range broadly…
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CRE Insurance
Hancock negotiates $5m AIG exit payment
AIG will pay outgoing chief executive Peter Hancock an additional $5m to his salary as part of an exit package, which includes the condition that he will remain in the…
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CRE Insurance
Neon launches marine and offshore construction consortium at Lloyd’s
Lloyd’s insurer Neon, which is part of The Great American Insurance Group, launched a new marine and offshore construction consortium. The consortium went live in February and aims to provide…
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CRE People Moves
BHSI boosts professional liability offering and hires new head
Berkshire Hathaway Specialty Insurance (BHSI) has launched professional liability coverage for large, complex technology-related risks and has appointed Geoffrey Kendrick as head of Professional Lines in Canada. BHSI’s fir... Want…
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CRE Insurance
Insurers urged to address emerging fracking risks
Insurers need to address growing fracking risks and develop policies to specifically cover the emerging threat, according to a new report from the Chartered Insurance Institute (CII). The report, which…
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Asia
XL Catlin appoints McMahon to head global property underwriting
XL Catlin has appointed Tim McMahon as global chief underwriting officer for property. Mr McMahon is currently head of energy, property, construction for the Asia-Pacific region and has worked at…
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CRE Insurance
Lloyd’s Argenta Holdings acquired by Hannover Re
Hannover Re, the third-largest reinsurer in the world, is to acquire the UK holding company Argenta Holdings plc. Argenta owns the Argenta Syndicate Management (ASML) and Argenta Private Capital Ltd…
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CRE Legal Regulation
US state Maryland signs supervisory cooperation agreement with IAIS
The Maryland Insurance Administration has joined a worldwide supervisory cooperation and information exchange agreement with the International Association of Insurance Supervisors (IAIS). US Commissioner Al Redmer signed the ... Want…