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CRE Insurance
No panic for risk managers over stock crash, but watch those reserves
European risk and insurance managers need not panic about the security of their insurance programmes as a result of recent volatility in global stock markets because insurers and reinsurers are…
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CRE Insurance
Insurers concerned by ‘gold plating’ and last minute requirements of Solvency II
European insurers are 'extremely concerned' about implementing certain aspects of Solvency II in time for its January 2016 deadline citing 'gold plating' by member states and late adoption by the…
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CRE Insurance
Workers’ deafness claims reach all time high in UK
Noise Induced Hearing Loss (NIHL) claims are at an all time high in the UK leaving companies and insurers increasingly exposed to costly court cases and compensation payments.
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Association News
Corporate round-up
ArgoGlobal launches European SME platform with immediate German D&O focus, AGCS appoints senior marine risk consultant and RIMS announces its first Latin American conference.
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Asia
Tianjin port blast hits supply chains and insurers
The series of devastating blasts that ripped through the Chinese port city of Tianjin last week have caused significant damage and supply chain disruption, landing Chinese and western insurers with…
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CRE Insurance
Commercial insurance market softens for ninth consecutive quarter
The relentless soft insurance market shows no signs of abating as commercial rates continued to fall across the globe in most major lines of business during the second quarter of…
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CRE Insurance
US coastal exposures continue to rise ten years after Katrina
A decade after Hurricane Katrina smashed into New Orleans, experts predict hurricane exposures will rise for US coastal cities.
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Captives
Concerns remain for captives under Solvency II but risk management benefits embraced: AM Best
Specialist insurers such as captives are 'not well-catered for' by Solvency II's standard formula which is adding to the need for European captives to change the way they are managed,…
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CRE Insurance
EXOR wins battle to take over PartnerRe
EXOR, the Italian investment group, finally appears to have won its increasingly acrimonious battle with AXIS Capital to acquire Bermuda reinsurance group PartnerRe following the signing of a definitive merger…
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CRE Insurance
Half-year disaster losses of $16.5bn far below average: Swiss Re
Insured losses from disaster events in the first half of 2015 stood at $16.5bn, well below the 10-year average of $29bn, according to preliminary estimates by Swiss Re.
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Aviation
Corporate round-up
HDI-Gerling teams with telematics firms, ACE launches website to boost health and safety risks in UK and Ireland, IRB Brasil Re names Cardoso as new president and Charles Taylor Adjusting…
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Europe
Class report: Accident and health/business travel
An organisation's greatest asset is its workforce and, for multinationals, these employees can be spread all over the world. Not only that, some are expats, or on secondment abroad, and…
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Europe
Captive owners focus on employee benefits
Captives are being used in much more interesting ways in Europe with owners looking to expand their use, particularly in light of Solvency II. Employee benefits is one area that…
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Europe
Buyers urged to check insurer accounting schemes after UK premium tax hike
Following a 60% rise in the UK's Insurance Premium Tax (IPT) to 9.5%, Marsh's Praveen Sharma has advised insureds and brokers to check which accounting scheme their insurers use. He…
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Europe
Compulsory PI cover spreads around the world
The number of jurisdictions where professional indemnity (PI) insurance is compulsory is on the increase, according to a new report from ACE Group. The report shows that the range of…
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Europe
M&A shakes up global insurance picture
The multinational insurance buying landscape has been radically altered by a flurry of mergers and acquisitions among global insurance industry players lately, culminating in ACE buying Chubb and Willis buying…
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Europe
IAIS consults on controversial G-SII requirements
The International Association of Insurance Supervisors (IAIS) has begun a public consultation to help finalise development of the Higher Loss Absorbency (HLA) requirement for global systemically important insurers (G-SIIs). The…
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Europe
Tax and regulatory news
Some Romanian insurers face capital shortfall, India's new FDI rules may be restricted, IAIS Secretary General to stay till end of 2017, Nigeria opposes setting of insurance tariffs, Axco: Tajik…
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Europe
News in brief
Willis and Towers Watson to merge in $18bn deal, Regulation still top 'banana skin' for global insurers, 'Grexit' to hit surrounding market confidence, Fast change for insurance markets Downunder, Pressure…
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Europe
Captive news
European Commission lists third-country non-cooperative jurisdictions, OECD criticises EC list of non-cooperative jurisdictions, Guernsey calls EC list 'unjustified, unwarranted and plainly wrong', RIMS backs Captive Clarification Act, Hawaii appoints captive…