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CRE Insurance
Outlook negative as reinsurer results masked by reserve releases and low cats: AM Best
Despite tough trading conditions the reinsurance industry delivered a solid performance in 2014 but its results were masked by low cat losses and unsustainable favourable reserve releases, according to AM…
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CRE Insurance
Insured losses from European extratropical cyclone Niklas up to €1.9bn
Insured losses from extratropical cyclone Niklas that hit much of Europe in late March will range between €1bn and €1.9bn, according to AIR.
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CRE Insurance
Corporate round-up
Marsh names Sally Williams as director of risk and governance, Willis appoints JLT's Paul Scope as chairman of Bermuda operations, Tokio Marine Kiln appoints Nick Sinfield as group head of…
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CRE Insurance
New marine and energy syndicate for Lloyd’s
Concerns that the current wave of consolidation in the international insurance and reinsurance industry could lead to a dangerous concentration of existing capital at Lloyd's have been countered by the…
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CRE Insurance
Supply chain risk jumps in Thailand and Ukraine
Thailand and Ukraine are the most notable countries in which the newly published 2015 FM Global Resilience Index rates supply chain disruption significantly more likely than a year ago.
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CRE Risk Management
Hopkin calls for end to risk management standard squabble
The risk profession must end the 'almighty war' between risk management standards and settle upon one approach in order to speak with one voice and further its cause, urged outgoing…
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CRE Insurance
Charman gets his deal as Endurance reveals plans to acquire Montpelier Re
Endurance Specialty's Chairman and CEO John Charman is not a man to be underestimated and anyone who thought he would give up on acquisitions after his failed bid for Aspen…
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Asia
Allied World completes acquisition of RSA’s Asian business
Allied World Assurance Company Holdings, AG has completed its acquisition of Royal & Sun Alliance Insurance Plc's Hong Kong and Singapore operations for approximately $193m.
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CRE Insurance
New French cyber security measures place heavy burden on key firms
Companies deemed vital to France's national security face extra costs and effort to meet new cyber security requirements imposed by their government, experts warn.
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Aviation
Germanwings crash insurers set aside $300m for loss
The crash of Lufthansa's Germanwings flight 4U 9525 in the French Alps last week will result in a big loss for its aviation insurers. The insurance consortium, led by Allianz…
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CRE Insurance
Willis Re says reinsurance cycle under ‘extreme strain’ and ILS funds not immune
In the week that Endurance Specialty announced plans to acquire Montpelier Re reinsurance broker Willis Re claimed that the reinsurance cycle is under 'extreme strain' and ILS funds are not…
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CRE Insurance
Corporate round-up
AGCS appoints cyber risk consultant and MGA Concordia launches in UK to deliver workplace dispute insurance alongside risk management services.
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CRE Insurance
Reinsurer capital grows to $575bn as alternative sources mount
Global reinsurance capital rose by 6% to $575bn in 2014, including a 28% increase in alternative capital to $64bn, according to estimates by Aon Benfield.
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Association News
First European risk management certificates to be awarded in Venice this October
Ferma will formally launch its Risk Management Certification Programme at the Ferma Forum in Venice on 5 October, 2015 when the Founder Certified Risk Managers will be given their certificates…
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CRE Insurance
UK government urges firms to ‘get to grips’ with cyber and buy cover
A new report published by the UK government and broker Marsh and supported by Lloyd's has announced a new set of joint initiatives between government and the insurance sector to…
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CRE Insurance
Lloyd’s to continue investment in global footprint and service on the back of £3.2bn profit
Good news for Europe's risk managers accompanied Lloyd's' full year 2014 results that comprised a pre-tax profit of £3.2bn–the same as in 2013–and a return on capital of 14.7% compared…
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CRE Insurance
Talanx vows to tackle challenges in industrial and retail business
It was not a happy day for the Talanx top management. On the morning of 23 March, when it was due to announce its 2014 results, the firm’s share price…
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CRE Insurance
Risk managers need to check D&O policies as cyber exposure multiplies
Directors' and officers' exposure to cyber risk is growing because they need to demonstrate that appropriate steps have been taken to mitigate the risk–steps that will go some way to…
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CRE Insurance
Kurth to replace retiring Morinerie at AXA
Dr Jürgen Kurth will replace AXA Corporate Solutions' (ACS) Patrick de La Morinerie when the unit's deputy CEO and board member retires in May.
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CRE Insurance
Shipping losses continue to fall but worries over cyber and mega-ships rise reports AGCS
Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty…