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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…
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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…