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CRE Insurance
Knowles takes on Charles Taylor branding
Knowles Loss Adjusters is to rebrand as Charles Taylor General Adjusting Services following its acquisition by Charles Taylor over two years ago. Since its acquisition, Knowles Loss Adjusters has managed…
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CRE Insurance
Barbican Insurance appoints terrorism underwriter
Barbican Insurance Group has boosted its terrorism team with the appointment of Charlotte Pritchard as terrorism underwriter. Ms Pritchard joins Barbican’s malicious acts team from Sompo Canopius, where she worked…
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Asia
Four insurance law firms form global legal alliance
Four leading insurance law firms have come together to form Legalign Global to meet the legal needs of the multinational insurance market. Legalign Global comprises founding member law firms BLD…
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CRE Insurance
AIG pays $9.8bn in Berkshire deal as reserve additions to mount
AIG will pay Berkshire Hathaway’s National Indemnity $9.8bn to reinsure its US commercial liabilities and protect its reserves from further adverse developments. As the deal was announced AIG warned investors…
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Asia
Approval for Swiss Re and XL Catlin reinsurance branches in India
Swiss Re and XL Catlin are the latest reinsurers to announce that they have received final approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a…
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Analysis & Opinion
Legal perspective: The UK legal picture for 2017
Digitalisation, technology, low interest rates and ongoing legislative and regulatory reform create a uniquely demanding and competitive environment for risk managers, insurance buyers and insurers trying to navigate this changing…
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CRE Insurance
UK insurers’ ratings likely to survive Brexit: AM Best
The financial strength ratings of UK insurers are unlikely to be downgraded by their government’s plans to exit the EU, according to analysis from AM Best in the wake of…
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CRE Insurance
Underwriting results fall further into the red for US non-life insurers
US property/casualty insurers recorded an underwriting loss of $1.7bn during the first nine months of last year, falling into the red from profits of $7.3bn during the same period of…
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Africa
Mozambique foreign currency ratings lowered to SD/D after missed payment
Mozambique’s struggles to equalise its economy and reassure the rating agencies continue, after it missed an interest payment of $59.8m on its sovereign bond due 2023. Following the failure to…
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Aviation
Tokio Marine Kiln launches online drone insurance
Tokio Marine Kiln (TMK) has added Unmanned Aerial Systems (UAS) insurance to its One TMK digital exchange. Brokers can now quote and bind UAS policies online in real time from…
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CRE Risk Management
Firms unprepared for operational risk finds FM Global survey
Some 54% of US companies do not have loss recovery plans in place for operational risk including cyber attacks, natural disasters and equipment failures, according to a study of chief…
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CRE Insurance
MGAs expect more competition in 2017
The number of managing general agents (MGA) in the UK insurance market is expected to increase during 2017, according to a survey of the industry by MGAA Matters. Some 63%…
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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…