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CRE Insurance
QBE boosts UK trade credit team
QBE has prepared the ground for further expansion of its trade credit business in the UK, with the appointment of four staff to newly created roles. Dimitri Griek is due…
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CRE Insurance
UK P&I Club’s Nichol joins Greece team
The UK P&I Club has promoted David Nichol as regional loss prevention executive for Greece, from his current role as risk assessor. In his new role, Mr Nichol will work…
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Asia
Berkshire Hathaway to grow Asian reinsurance business
Warren Buffett’s Berkshire Hathaway has expanded its reinsurance business in Asia, after gaining approval from Malaysia’s financial regulator to offer reinsurance for non-life business in the country. Berkshire Hathaway Sp...…
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Asia
Asia is kidnap capital of the world
A 10% increase in the global share of kidnappings that took place in Asia in 2016 consolidated the region’s status as the place with the highest concentration of incidents (44%).…
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Africa
Regulation change hands Kenya insurers marine cover bonus
In the past month, Kenya insurers have been on a launching spree for online marine insurance products, thanks to a change of law that requires all imports to be insured…
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Africa
Africa Re supports major agricultural insurance project in Senegal
Africa Re has added its support to a project to lead the reinsurance programme of 40,000 cotton and maize farmers in Senegal, jointly with AXA CS and CICA Re. Agriculture,…
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Africa
Kenya’s IRA appoints new leader
Godfrey Kiptum is the new head of the Insurance Regulatory Authority (IRA) in Kenya, marking one of the longest awaited transitions in the leadership of the county’s financial sector. Mr…
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CRE Insurance
European Services e-card an unnecessary burden says Insurance Europe
Insurance Europe has warned that the proposed European Services e-card will add an unnecessary burden to insurers, since insurance for cross-border services exists and is accessible. The card is part…
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CRE Insurance
EU-US agreement on reinsurance will release locked up capital says Fitch
The recent bilateral EU-US agreement on insurance supervision will release a large amount of capital currently locked up as collateral, providing an important boost to reinsurers' liquidity and investment freedom,…
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Asia
Trump and Brexit signal ‘paradigm shift’ in political risk: Maplecroft
The world is entering a new era of political risk under the shadow of a Donald Trump presidency, Brexit and a more assertive China, according to a new report from…
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CRE Insurance
May’s speech will not stop Lloyd’s search for new home in Europe
Lloyd’s will plough on with its contingency plans to open a subsidiary within the EU regardless of the UK government’s position on Brexit, the corporation’s CEO Inga Beale reportedly told…
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CRE Insurance
Court ruling will likely spark liability policy wording review
Insurers will need to tighten policy wording for notification clauses following a landmark court ruling in the UK last week. Policy holders have been advised to check their current policies…
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CRE Insurance
Interest rising in Malta as onshore option for UK insurers post Brexit
Interest among UK insurers in Malta as an option to access the European Union via freedom of services post Brexit is rising steadily, based on attendance at a briefing on…
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Asia
Insured catastrophe losses reach four-year high: Aon
Worldwide insured catastrophe losses totalled $54bn last year, making 2016 the costliest year for insurers since 2012, according to Aon Benfield’s Impact Forecasting annual catastrophe report. Economic losses from 315…
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CRE Risk Management
EC proposes new data privacy rules
New legislation from the European Commission promises to strengthen privacy in electronic communications alongside proposals to free up the movement of data across Europe’s national borders. Under the package of…
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Asia
Business interruption tops Allianz risk poll in Asia
The threat of business interruption is the main concern for Asian businesses according to a global survey of more than 1,200 risk experts conducted by insurer Allianz. The Allianz Risk…
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Africa
Businesses in Nigeria worried about struggling economy and corruption
The biggest threats to Nigeria are market volatility and corruption, according to the 6th annual Allianz Risk Barometer, which also reveals that political risks and violence are still a major…
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CRE Insurance
US and EU in covered agreement for reinsurers
US and EU representatives have announced a covered agreement that will lead to the elimination of collateral and local presence requirements for EU and US reinsurers operating in these markets.…
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CRE Insurance
RSA hit with £150k fine over data loss
The Information Commissioner’s Office (ICO) has fined Royal & Sun Alliance PLC £150,000 after it lost the personal information of nearly 60,000 customers. An ICO investigation looked at the theft…
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CRE Insurance
Pioneer Underwriters forms US technology and cyber division
Pioneer Underwriters has formed a miscellaneous, technology and cyber liability unit following the appointment of David Lucey as vice-president to lead the new team. Lucey will report to Gene Hinman,…