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Europe
Georgia market report–IMF/World Bank verdict
Georgia was recently visited by an International Monetary Fund and World Bank team to conduct financial system stability assessment under the Financial Sector Assessment Programme. We report their key findings.
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Europe
Captives and global programmes: A synergistic relationship?–Ken Read, Aon Risk Solutions London
Captive insurance companies represent a well-established mechanism to provide financing for retained insurable risk and are used by many organisations as a part of an overarching strategy to minimise their…
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CRE Insurance
XL Catlin combination welcomed by investors but benefits for buyers not so clear
Risk and insurance managers across Europe and the world over will receive the news of XL's proposed acquisition of Catlin to create a serious global player that boasts some $10bn…
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CRE Insurance
TRIA renewal welcomed by all as stabilising influence
Buyers and insurers alike have welcomed the reauthorisation of the Terrorism Risk Insurance Act (TRIA) this week.
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CRE Risk Management
International conflict biggest global threat as geopolitical risks return to the fore: WEF report
International conflict is the most likely risk to cause global instability over the next 10 years with water crises potentially the most damaging, according to the World Economic Forum's (WEF)…
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Association News
Paris attacks could hinder developing insurance coverages warns AMRAE
The terrorist attacks in Paris last week could hold back innovative and new insurance solutions to protect against terrorism risks, Gilbert Canaméras, President of AMRAE, said this week.
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CRE Insurance
Cyber and political risks climb Allianz Barometer
Cyber and political threats are the big climbers in the 2015 Allianz Risk Barometer.
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Association News
Airmic embarks on search for top-drawer replacement for Paul Hopkin
UK risk management association Airmic has started the search for a replacement for long-standing and highly respected technical director Paul Hopkin, who has resigned.
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CRE Insurance
Europe faces heightened terror threat
Experts say that the fatal terrorist attacks in France last week highlight the resurgent Islamist terrorism threat in Europe as conflicts in the Middle East spill over into western countries.
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CRE Insurance
Natural disaster losses 38% below ten-year average: Aon
Natural disasters caused $39bn of insured losses last year, 38% below the ten-year average of $63bn and the lowest annual total since 2009, according to figures from Aon Benfield's catastrophe…
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CRE Insurance
Piracy at eight-year low
Global marine piracy fell again in 2014 to its lowest level in eight years as the threat of attack from Somali pirates appears well under control, according to latest figures…
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CRE Insurance
Corporate round-up
AGCS recruits crisis management expert to boost global casualty team, Mike East moves to QBE from Canopius as claims director, QBE expands international casualty team and Phil Somers named head…
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CRE Insurance
Insurers welcome House of Representatives’ quick reauthorisation of TRIA
Leading insurance bodies are pleased that the US House of Representatives has acted quickly to reauthorise the Terrorism Risk Insurance Act (TRIA) after Congress allowed it to expire at the…
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CRE Insurance
Ever softening renewals to spark M&As and new uses of alt capital
The cost of reinsurance fell yet again for global and European insurers at the January renewals, while coverage broadened further. The soft market conditions are predicted to accelerate mergers and…
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Association News
RIMS names Rick Roberts as president
The US risk management society RIMS has announced that Rick Roberts, Director of Risk Management and Employee Benefits for Ensign-Bickford Industries Inc, will be its president for 2015.
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CRE Insurance
Cat losses down in 2014 following improved risk management: Munich Re
Total catastrophic and insured losses were significantly lower in 2014 compared to 2013 partly because of improved catastrophe risk management on the ground, according to German reinsurance group Munich Re.
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Africa
Shell settles Nigerian spill case after six-year battle
The inability of international companies to dodge environmental and social responsibilities as they seek to tap opportunities in emerging markets was seemingly underlined this week as oil giant Shell agreed…
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Benelux
Corporate round-up
Marsh buys Belgian credit specialist Trade Insure, AXA Corporate Solutions appoints Paul Evans as chairman, AGCS completes integration of Fireman's Fund with sale of personal lines business to ACE, AWAC…
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CRE Insurance
IRM names shareholder activism and EU exit as key UK 2015 risks
UK risk managers should brace themselves for increased shareholder activism in 2015 as new corporate governance rules take hold as well as the prospect of political upheaval, including a potential…
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Captives
ILS at record high in 2014
Last year saw a record amount of catastrophe insurance-linked securities (ILS) issued, beating the $7.86bn of property cat bonds brought to market in 2007.