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BI
Munich Re eyes growth – and threats – in cyber space
Munich Re backpedalled a little on its corporate specialty business last year, but still wants to grow its portfolio in the longer term, especially in cyber space, according to comments…
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CRE Insurance
Worrying signs that W&I market is growing too fast
There is a danger that the warranty and indemnity (W&I) insurance market is starting to overheat, warns Munich Re. Monika Milberg, head of financial lines at the global reinsurer, fears…
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CRE Insurance
RSA appoints MD for commercial risk SME unit
RSA has appointed a new managing director of its commercial risk solutions (CRS) unit, which has delivered small and medium-sized (SME) business internationally since it was formed last November James…
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Africa
South Sudan and Equatorial Guinea agree oil and gas deal
Providing new opportunities for those in the oil and gas sectors, South Sudan and Equatorial Guinea have agreed a new bilateral relationship between the African oil and gas producers. The…
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Africa
Dangote becomes net exporter of cement as Nigerian government pushes for diversification
Nigeria has become self-sufficient in the production of cement and is now an exporter of the commodity, with the government ascribing the feat to Dangote Cement. Last month Dangote Cement…
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Africa
World Bank commits $57bn to Africa, with emphasis on the private sector
The World Bank is to back Africa to the tune of $57bn in the next three fiscal years, with a huge emphasis on the private sector. Following a meeting with…
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Africa
Angola gets negative outlook thanks to poor economic picture
Blaming a fast deteriorating economic picture, Fitch Ratings has affirmed Angola's long-term foreign and local currency issuer default ratings (IDR) at B with a negative outlook. The issue ratings on…
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CRE Insurance
Global insurance M&A levels set to rebound in 2017
Global insurance merger and acquisition (M&A) activity is expected to peak again in 2017, following a slow year in 2016. A survey of 200 insurance industry executives by KPMG International…
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Africa
Confidence boost for Nigeria from S&P
With oil prices improving, S&P Global Ratings has affirmed its B/B long- and short-term sovereign credit ratings on Nigeria, giving Africa’s largest economy a stable outlook. It has also affirmed…
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Asia
Guernsey in captive cooperation agreement with Beijing Airport Economic Core Zone
Guernsey has signed a memorandum of understanding (MoU) with the Beijing Airport Economic Core Zone (BAECZ), a key Chinese business centre. According to Guernsey Finance, the MoU sees the parties…
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CRE Legal Regulation
IAIS: Insurance supervisors must be aware of FinTech developments
Insurance supervisors must be alert to the potential impact of innovative financial technologies (Fintech) and make necessary adjustments in their supervisory practices and skills, according to a report from the…
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CRE Insurance
WeSpecialty launches comprehensive political risk and terror solution as market tightens
WeSpecialty, the fast-growing Paris-based specialty managing general agency backed by a number of leading Lloyd’s insurers offering capacity to French and global corporate insurance buyers, has launched an innovative solution...…
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Africa
Crew released but Somali hijack concerns continue
On 16 March 2017, the crew of the MT ARIS 13, a tanker vessel, was released from Somali pirates after a firefight with the Puntland Maritime Police Force (PMPF). Oceans…
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Africa
Continental Re enjoys 60% increase in profit
Pan-African reinsurer Continental Reinsurance has seen profit rise 60% before tax in 2016, from NGN2.92bn in 2015 to NGN4.65bn. Gross premium income at NGN22.41bn is 14% higher than the NGN19.74bn reported…
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Asia
Indian regulator approves licences for Gen Re and Fairfax, reveals Times of India
The Insurance Regulatory and Development Authority of India (IRDAI) has approved a number of non-life insurers and reinsurers, according to the Times of India. The newspaper quoted industry sources, who…
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CRE Risk Management
Argo Pro boosts E&O product line
Argo Pro has launched a range of enhanced Errors & Omissions (E&O) policy forms in the US under its Argo PROtect brand. Aimed at brokers looking to expand their professional…
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CRE Insurance
Risk managers eye developments at AIG as Buffett mooted as saviour
AIG’s corporate policyholders and brokers were remarkably loyal to AIG as it struggled to survive the ravages of the credit crisis, bailout by the US taxpayer and subsequent efforts to…
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CRE Risk Management
Half of firms worry that anti-corruption resource is inadequate, finds survey
Over a third of risk and compliance professionals expect their organisation’s bribery and corruption risks to increase in 2017 with around half concerned that they do not have enough resource…
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CRE Insurance
Cyber experts report wider range of attacks with IoT a huge concern
As cyber criminals broaden their capabilities there has been a rise in attacks against industrial control systems and connected devices, with growing use of ransomware and distributed denial-of-service (DDoS), according…
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CRE Insurance
London market liability model breaks mould with promise to improve claims payments
Lloyd’s and modelling firm Arium have developed a probabilistic model to measure (re)insurers’ liability exposures across their portfolios. They promise the new tool will strengthen the ability to pay corporate…