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CRE Legal Regulation
March 7, 2024
New EU payment deadlines will weaken Europe, claim German insurers
The German Insurance Association (GDV) has warned that the EU’s planned payments regulation, which would introduce mandatory payments within 30 days and is designed to support SMEs, will backfire and…
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Climate Change
March 7, 2024
SEC adopts compromised climate-related disclosures
The US Securities and Exchange Commission (SEC) has adopted rules to enhance and standardise climate-related disclosures by public companies and in public offerings. As ever, the new rules will draw…
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Legal & Regulation
March 7, 2024
Average securities class-action settlement reaches record high
The average amount for settling securities class actions in the US was the highest in over a decade last year, Cornerstone Research says in a report. The economic consultancy said…
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GRM Insurance
March 7, 2024
New and enhanced A&H product from RSA Insurance
A comprehensive group personal accident and business travel cover has been launched by RSA Insurance. The new and enhanced accident and health (A&H) product is designed to give organisations and…
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Market
March 6, 2024
Reinsurance prices to peak this year after ‘modest’ rises in months ahead: Moody’s
Global reinsurance prices are likely to peak at multi-decade highs in 2024 as competition intensifies, according to Moody’s. The ratings agency says reinsurers have scope to push through modest further…
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Cyber & Technology
March 6, 2024
EU strikes deal on cybersecurity package
The European Council presidency and European Parliament’s negotiators have reached a provisional agreement on the so-called ‘cyber solidarity act’, as well as targeted amendments to the cybersecurity act. The Council…
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Market
March 6, 2024
US rate hikes accelerate in February: Ivans
Commercial policyholders paid more for most major lines of coverage last month as premium renewal rates accelerated compared with January, according to a report from data exchange Ivans Insurance Services.…
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Market
March 6, 2024
Scor plans to ‘fully benefit’ from supportive market conditions
Scor continues its strong growth in the specialty insurance segment, and chairman Fabrice Brégier said during the company’s latest set of results that the group intends to “fully benefit from…
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ESG
March 6, 2024
Lloyd’s hits gender target but work remains to reach ethnicity goals
Lloyd’s has revealed that 21% of new hires across the market last year were from diverse ethnic backgrounds, an increase of four percentage points but still outside the one-in-three target…
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Legal & Regulation
March 6, 2024
EU acts to break the forced labour business model
The EU may have ditched the Corporate Sustainability Due Diligence Directive (CSDDD) for the time being but opponents of strict liability for human rights and environmental abuses within European organisations’…
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DACH
March 6, 2024
German industrial insurers need to step up digitisation efforts: WTW
Insurers still have a long way to go when it comes to digitising their underwriting, based on a survey of around 170 industrial insurance representatives that attended WTW’s recent Insurer…
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Cyber & Technology
March 6, 2024
France steps up cyber defence efforts
French state cyber agency ANSSI has reported that cyber espionage remained high last year, with a significant increase in attacks on individuals and non-governmental structures that create, host or transmit…
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CRE Insurance
March 5, 2024
European market to stabilise further with rate decreases on the cards in H2
Brokers predict that European insurance buyers will see the market stabilise further in 2024 and may begin to see more widespread softening for key risks in the second half, as…
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GRM News & Analysis
March 5, 2024
Latin America and Asia see big growth in ‘true risk managers’ as insurance becomes business enabler
Risk and insurance managers in key growth markets Latin America and Asia are becoming more sophisticated as their businesses expand beyond national and regional borders, according to an expert panel…
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CRE Insurance
March 5, 2024
Miller books record revenues on international and retail growth
Miller has announced record revenues for 2023 as the London-based specialty insurance broker continues its international and specialty retail expansion. For the year ending 31 December 2023, Miller posted record…
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CRE Insurance
March 5, 2024
Hiscox posts record profit of $626m in 2023 on back of underwriting rates and investment boost
Hiscox has announced record profit of $625.9m for 2023, up 127%, following a 36% gain in its underwriting result to $492.3m and a turnaround in investment income from a loss…
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GRM Insurance
March 5, 2024
Extreme weather in Australia’s summer costs insurers A$1.2bn
Insured losses from extreme weather during the Australian summer could reach A$1.2bn, according to an estimate from the Insurance Council of Australia (ICA). Losses from storms over Christmas and the…
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CRE Insurance
March 5, 2024
War risk rates hold firm after Red Sea sinking: reports
Shipping war risk insurance rates have held steady after the total loss of UK-owned cargo vessel Rubymar at the weekend, according to a Reuters report. Underwriters and brokers told Reuters…
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GRM People Moves
March 5, 2024
Aon appoints CEO of Bermuda reinsurance unit
Aon has named Roman Romeo as CEO of its Reinsurance Solutions Bermuda unit, effective 1 April, succeeding Tony Fox, who will remain as chairman. Based in Bermuda and reporting to…
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CRE People Moves
March 5, 2024
Allianz Commercial names country manager for Nordics
Allianz Commercial has appointed Margaretha Mo as country managing director for the Nordics, overseeing the group’s commercial property and casualty and specialty lines in the region. Mo joins Allianz from…