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Asia
Zurich restructures its APAC business
International insurer Zurich has announced a major overhaul of its Asia-Pacific business, merging its corporate and commercial units into a single division. The integration is designed to simplify its business…
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Asia
APAC remains weakest point in global supply chain amid rising risks
Asia-Pacific remained the biggest contributor to supply chain risk in 2016 because of the region's importance to global supply chains, according to latest analysis from Dun & Bradstreet, the US-based data…
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Asia
Landmark case in HK could push up price of D&O insurance
Risk managers and insurers are eyeing the progress of a landmark Hong Kong tribunal that could have massive implications for D&O insurance in the region. The case involves Chinese state-backed…
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CRE Insurance
Swiss Re Corporate Solutions 2016 profits eroded by pricing pressure
Swiss Re’s Corporate Solutions unit posted net income of $135m for the full year 2016, sharply down from $357m in 2015. Swiss Re said the 2016 result was hit by…
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Asia
Vietnam hosts APEC forum on disaster insurance
Experts from the Asia-Pacific Economic Cooperation (APEC) forum and a number of international financial institutions met in Vietnam this week, to debate the establishment of disaster risk financing and insurance…
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CRE Insurance
Former broker Carnegie-Brown named Lloyd’s chairman
Bruce Carnegie-Brown has been named as the new chairman of Lloyd’s and will take over the role from June of this year. Mr Carnegie-Brown will replace John Nelson, who is…
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CRE Insurance
AIG warns of mounting casualty loss trends as it reshapes book
AIG is dramatically reshaping its business mix after warning about market-wide issues with US casualty loss development and pricing. After posting an $849m loss for 2016 last week, AIG has…
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Africa
Glimmer of hope as Central Bank of Nigeria eases forex pressure
Measures by the Central Bank of Nigeria (CBN) may ease some of the severe foreign currency liquidity pressure faced by the country's banks, according to Fitch Ratings. It said: “The…
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Africa
Allianz launches new Moroccan operation
Allianz is aiming for a major expansion, doubling its market share in five years, after officially launching its Moroccan operation. The company has officially been a part of the Allianz…
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CRE Insurance
AXA opens seismic risk research office in Italy
AXA Corporate Solutions’ risk management unit, AXA Matrix Risk Consultants, has opened a new natural catastrophe research and development office in Italy. The Center of Excellence for Seismic and Tsunami…
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Asia
Australia passes new data privacy law
Companies in Australia will soon face mandatory notification obligations in the event of a data breach, after the federal parliament passed a long awaited amendment to its 1998 Privacy Act.…
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Analysis & Opinion
Managing a product recall in Hong Kong
As the recent Samsung and VW product recall issues have shown, the consequences of a recall can be globally significant. Often, the need for product recall insurance is not recognised…
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Africa
Private equity poised for African growth
Despite numerous economic, political and regulatory risks faced by investors, private equity in South Africa continues to deliver long-term sustainable returns for its stakeholders and has outperformed major listed equity…
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Asia
IAG plans insurtech hub in Singapore
Insurance Australia Group (IAG) is the latest insurer to launch an insurtech centre in Singapore, in a bid to spread its presence across Asia. The so-called innovation hub will focus…
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CRE Insurance
Insurance Europe voices concerns over Common Corporate Tax Base proposals
Insurance Europe has published a position paper on the European Commission’s (EC) proposals for a Common Corporate Tax Base (CCTB) and consolidation. Insurance Europe said that while it supports the…
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Africa
Trump and US sanctions – managing the risk
US trade and economic sanctions are tools to address national security, foreign policy and economic threats. For the past several decades, the vast majority of sanctions have been imposed by…
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Africa
Kenya farmers get largest ever payout as weather index insurance kicks in
Kenya pastoralists will receive $2.15m as compensation for loss of livestock in the ongoing drought, from Kenya Livestock Insurance Programme (KLIP), a World Bank- and Kenya government-backed agriculture insurance scheme.…
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CRE Risk Management
European firms face up to risks of mobile workforce
Only half of European firms have reviewed the health risks facing employees who travel for business, according to the results of a survey by International SOS. This is despite the…
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Aviation
Willis Towers Watson to buy French aviation broker
Willis Towers Watson is in talks to buy the French aviation business and 16-strong team of broker OAAGC. OAAGC is 40% owned by Gras Savoye, part of the Willis group…
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Africa
Ghana: the latest African country to suffer a negative outlook from rating agencies
Good economic governance will be the key to success after Ghana's disclosure of unreported expenditure and the resulting failure to hit the 2016 fiscal deficit target highlighted substantial risk to…