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Asia
Malaysian insurance market faces ‘challenging’ 2017, says association
Growth posted by the Malaysian insurance industry plummeted in 2016 compared with 2015 based on latest numbers published by the national insurance association (PIAM). On the plus side the association…
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Asia
Parima signs three more partners
The Pan-Asia Risk and Insurance Management Association (Parima) has recruited a further three additions to its roster of corporate partners. Singapore-based disaster recovery specialist Belfor Asia, US-based insurer Libe... Want…
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Africa
Data protection a real challenge across Africa
The European data protection framework is currently undergoing deep mutations, warns one French lawyer. Merav Griguer, a partner in the French office of law firm Bird & Bird, said Europe’s…
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Africa
Supply chain could be threatened as global protests target Madagascan government
The Madagascan government is being targeted by a global campaign to defend dockworkers at the ICTSI operated Port of Toamasina in Madagascar. The campaign by the International Transport Workers’ Federation…
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Africa
Farm insurer taps state agency to protect farmers
Agriculture insurer Agriculture and Climate Risk Enterprise Africa (ACRE Africa) has partnered with Kenya’s state-owned agriculture research agency Kenya Agricultural & Livestock Research Organization (KALRO) to provide a... Want to…
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CRE Insurance
Swiss Re keeps the faith with Corporate Solutions unit
Growing Corporate Solutions will remain a key part of Swiss Re’s business plan despite the unit’s disappointing result in 2016, according to the global reinsurer’s CEO Christian Mumenthaler. Mr Mumenthaler…
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Insurance
StarStone almost doubles profits
StarStone, the global specialty insurer acquired by Enstar Group Ltd in 2014, announced net earnings, including non-controlling interests, of $42.8m for 2016, compared with $23.2m in 2015. Gross written premium…
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Global Risk Manager
Ironshore International ups capacity on terrorism & sabotage programmes
Ironshore International has increased capacity on its Terrorism & Sabotage programmes to $400m from the current $375m limit, effective immediately. Ironshore’s Terrorism & Sabotage cover provides insurance protection for b...…
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Africa
Tested benchmarks key to sound risk management practices, warns Nigerian risk body
Aiming to standardise and ensure compliance in operational risk management in life, fire safety and security is critical warned Nigerian risk organisation National Fire Prevention Awareness and Advocacy (NFPAWA). It…
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CRE Insurance
Hiscox posts record result for 2016
Hiscox posted a record profit of £354.5m for 2016, an increase of 64%, with gross written premium growth of 23.6% (14.1% in local currency). Bronek Masojada, chief executive of Hiscox…
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Global Risk Manager
Specialty unit boosts Berkshire Hathaway Q4 insurance premium volumes
Berkshire Hathaway posted insurance operating earnings of $1.37bn in 2016, compared with $1.16bn in 2015. Underwriting profits at the group’s diverse insurance and reinsurance operations increased to $2.13bn in 2016,…
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Africa
Risk managers must understand true extent of cyber threat
Too many African risk managers and their companies fail to understand the true threat of a cyber attack, warns security boss Dan Thornton. Speaking exclusively to Commercial Risk Africa, Mr…
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CRE Insurance
AIG directors reportedly mull Hancock action
AIG directors are preparing to discuss the company’s progress in delivering targets set out in its two-year restructuring programme, during which The Wall Street Journal reports they will specifically look…
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CRE Insurance
Risk managers face more prescriptive cyber rules
Data protection rules in the EU and US are becoming more prescriptive as governments look to tackle the rising cyber threat, according to a panel debate hosted by Advisen. The…
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Asia
Verizon and Singapore’s NTU Business School team up to tackle cyber risk
Verizon Enterprise Solutions, part of the New York-based communications and wireless group, and Singapore-based Nanyang Technology University's (NTU) Business School, have joined forces to analyse and better understand econom... Want…
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Asia
Singapore forms council to review corporate governance code
The Monetary Authority of Singapore (MAS) has formed a Corporate Governance Council to review the Code of Corporate Governance (CG Code). The council is chaired by Chew Choon Seng, former…
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CRE Insurance
UK government introduces whiplash cap Bill
The UK government’s plans to reduce the discount rate applied to large personal injury compensation awards were announced days after the introduction of its Prisons and Courts Bill that made…
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CRE Insurance
UK P&I Club appoints EMEA regional director
The UK P&I Club has appointed Susanne Murphy EMEA regional director as part of its growth plans in the Europe, Middle East and Africa region. Ms Murphy will continue in…
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Africa
Nigerian banks will suffer higher credit losses in 2017 due to economic and liquidity concerns, as dollar shortage continues
The Nigerian banking sector faces another difficult year in 2017, according to an S&P Global Ratings report, with 10 banks in focus. Nigeria Bank Outlook 2017: Economic And Currency Concerns…
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Asia
Chinese work safety head jailed for corruption
The vast explosions at the northern Chinese port of Tianjin in August 2015 has taken another victim as the nation’s former top work-safety official has been jailed for 15 years…