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Africa
Kenya’s listed insurers issue profit warnings
CIC Insurance has become the latest listed Kenya insurer to issue a profit warning for financial performance in 2016 blamed on slowed activity at the Nairobi Securities Exchange (NSE) and…
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Africa
AGCS Africa appoints liability team leader
Storm Canham has been appointed as team leader for liability at Allianz Global Corporate & Specialty (AGCS) Africa, based in Johannesburg, South Africa. As team leader, she will lead and…
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Africa
Good governance key to overcoming challenges in developing countries, says World Bank
The World Bank has urged developing countries and international development agencies to rethink their approach to governance, as a key to overcoming challenges related to security, growth and equity. As…
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Association News
Hurrell to step down as Airmic CEO
Airmic CEO John Hurrell is to leave his post after nine years at the helm of the UK risk and insurance managers’ association. Airmic said it has begun the process…
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Association News
Boards extol virtue of risk management in joint CIMA/Airmic guide
The Chartered Institute of Management Accountants (CIMA) and Airmic have published a guide to help boards comply with the UK Corporate Governance Code (UK Code). The FTSE board members and…
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CRE People Moves
Vince Cole heads up Charles Taylor’s US operations
Vince Cole has joined loss adjuster Charles Taylor Adjusting as US CEO and regional head. Mr Cole will be based in Boston, where he will head up operations in the…
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Africa
South African banks working on new compliance demands
Deloitte has warned that not all South African banks meet the basis for new compliance rules now coming into effect. South African banks have been in the process of establishing…
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CRE Insurance
Hiscox and Control Risks launch security risk insurance
Hiscox has teamed up with risk management consultancy Control Risks to unveil a new insurance policy for security risks including terrorism, bribery, extortion and industrial espionage. The Security Incident Response…
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CRE Insurance
AIG ratings under review ahead of reserve announcement
Rating agencies AM Best and Fitch have placed AIG’s financial strength ratings under review ahead of the company’s 2016 fourth quarter result statement, which is expected to reveal further adverse…
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CRE Insurance
Ransomware attacks forecast to double in 2017: Beazley
Data breaches handled by Beazley’s specialist response team increased by 56% last year to almost 2,000 and ransomware attacks were up by four times, according to Beazley Breach Insights. Beazley…
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Asia
S&P rates China P&C and life insurance markets
China's P&C and life insurance sectors have been rated as intermediate risk by S&P Global Ratings. S&P said its assessment reflects China’s moderate country risk, based on S&P’s view of…
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Analysis & Opinion
International Programmes: greater transparency and less complexity – is it possible?
Zurich Commercial Insurance, one of the global leaders in the international insurance space, explains the major challenges of its large global customers whose international property programme is placed all over…
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Africa
Struggle to protect patents in Africa
Contrary to real estate, intellectual property is more democratic: you do not need an amount of capital or goods to generate more capital, according to Vitor Palmeda Fidalgo, a patent and…
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Africa
African startups and innovators set for US$500,000 challenge from Ecobank
Pan-African bank Ecobank has launched Ecobank Fintech Challenge, a competition for African technology startups to build and deploy innovative fintech and banking solutions across the continent. Twenty finalists from the…
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CRE Insurance
Aon group president Steve McGill steps down
Steve McGill has left his post as group president of Aon after 10 years at the broker to “pursue new opportunities”. Effective immediately, his role will be shared between Eric…
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Captives
Aon launches captive model for cyber risks
Aon has launched a new captive solution for firms looking to transfer cyber risks with capacity of up to $400m. Aon said its Cyber Captive Program seeks to address many…
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Analysis & Opinion
What lies in store for 2017?
Risk managers, insurance buyers and insurers are continually grappling with the changing landscape of ongoing legislative and regulatory reform. Europe is no exception and has many legal changes ahead in…
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Energy
StarStone establishes MGA joint venture in Dubai
StarStone, the global specialty insurer and subsidiary of Enstar Group, has formed a joint venture partnership with Malakite Underwriting Partners, a managing general agent in Dubai. Malakite will target specialty…
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Africa
Chubb creates global accounts manager role for South Africa
Chubb has promoted Neil Beaumont, currently business development manager for South Africa, to the newly created role of global accounts manager for South Africa, as it continues to invest in…
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Asia
Coface upbeat despite political uncertainties weighing on trade
The rise of populism in Europe, uncertainties around Brexit and US President Donald Trump’s protectionist policies are some of the main threats to the global economy in 2017, according to…