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Africa
Risk management at heart of new weather risk-related deal
African Risk Capacity (ARC) has formally teamed up with the African Development Bank (AfDB) to strengthen mechanisms to manage weather-related risk on the continent. The organisations said: “This partnership will…
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Asia
Hyperion hires Johnson to lead FP’s Asian marine business
Mark Johnson has been appointed chief executive of FP Marine Risks, the Hong Kong headquartered specialty marine business of UK-based Hyperion Insurance Group. Hyperion, the world’s largest employee-owned insurance group,…
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Africa
Cameroon and IMF move towards three-year economic programme
The International Monetary Fund (IMF) has started talks with Cameroon to develop a three-year economic and financial programme for the west African state. An IMF team, led by Corinne Deléchat,…
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Africa
Women in risk – changing times
Female risk managers across the world are marking International Women’s Day 2017 today. The UK’s Institute of Risk Management (IRM), which includes a chapter in Kenya as well as in…
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Global Risk Manager
Sompo Canopius heavy industry capacity boosted by Travelers syndicate
Sompo Canopius AG’s heavy industry team has secured additional capacity for its mining cover from Travelers Syndicate 5000 at Lloyd’s. The boost takes full capacity for the mining portfolio up…
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CRE Insurance
Cost of P&I insurance to fall as competition mounts say rating agencies
Rating agencies predict that the cost of protection and indemnity (P&I) cover will come down as clubs face pressure from hard-up ship owners and react to benign losses. In recent…
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CRE Insurance
London market’s electronic systems begin accepting claims and marine covers
The London Market Group’s (LMG) online XIS Bureau is now accepting claims from brokers, and its electronic placing platform PPL has been extended to cover marine insurance. The XIS Bureau…
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CRE Insurance
Commercial Risk launches new web platform
As many readers of Commercial Risk Europe struggle to protect their companies from cyber risk, it is worth remembering that perhaps the biggest risk of all is not keeping up…
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Captives
Aon explains thinking behind new cyber captive solution
Commercial Risk Europe spoke to Aon about its new cyber risk captive solution that offers capacity of up to $400m and seeks to address many of the shortcomings faced by…
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CRE Insurance
D&O exposures increasing in Europe
The trend towards increased exposures for directors and officers in Europe is continuing, with corporates seeing large regulatory fines and further shareholder actions in recent months. In January, Rolls-Royce agreed…
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CRE Insurance
French and Spanish firms face new D&O risks
While D&O exposures are particularly acute in the UK and Germany, they are also up in Spain and France, according to XL Catlin. A trend towards greater accountability, increased shareholder…
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CRE Insurance
Cyber set to become number one purchase for corporates
Cyber insurance is likely to become the single most important insurance purchase for most large corporates, according to Lucien Mounier, a cyber underwriter at Lloyd’s insurer Beazley. He predicts that…
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CRE Insurance
Spreading the risk management word
QBE has a focus on the middle market in France and the rest of Europe. Commercial Risk Europe editor Adrian Ladbury asked Renaud de Pressigny, the insurer’s general manager for…
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Asia
Allied World fast-tracks towards truly global player status
Commercial Risk Europe editor Adrian Ladbury discussed the state of the insurance market with Enrico Bertagna, senior vice-president of business development at Allied World, during the recent AMRAE conference in…
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CRE Insurance
Watch those accumulations or profits will be damaged: Puls
The vast majority of international insurers have done surprisingly well to deliver reasonable profits to investors during the stubbornly soft and hyper competitive market of the past few years. Admittedly,…
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Africa
Revitalising Ghanaian forests should deliver sound investment opportunities
The African Development Bank (AfDB) and Climate Investment Funds’ Forest Investment Program (CIF FIP), have signed a US$24 million loan agreement with Form Ghana, to launch an innovative project on public-private…
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Africa
Major new solar project in Mali gets funding boost
The African Development Bank (AfDB) has approved a senior concessional loan of $25 million to fund the Segou Solar PV Project, Mali’s first utility-scale solar photovoltaic (PV) power plant. It…
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CRE Insurance
Pool Re reinsurance renewal increases limit to £2bn
Pool Re, the UK government-backed mutual terrorism reinsurer, has increased its commercial reinsurance cover to £2bn, compared with the £1.95bn of cover previously in place. The placement further distances Her…
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CRE Legal Regulation
Activities-based approach to IAIS’ systemic risk assessment
The International Association of Insurance Supervisors (IAIS) is to develop an activities-based approach to systemic risk assessment in the insurance sector, as part of its review of systemic risk assessment…
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Insurance
P&I Clubs face testing time ahead – AM Best
Intense competition in the marine protection and indemnity (P&I) sector is keeping insurance pricing down for ship owners, according to a report from AM Best. Historically, P&I clubs have been…