African reinsurer bought in run-off

African reinsurer bought in run-off

African reinsurer bought in run-off

Legacy acquirer DARAG Group has bought One Re, a London-based non-life reinsurance company that provided reinsurance to African insurers. The transaction will be conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, and is subject to regulatory approval. The price tag has not been disclosed but it is DARAG’s first UK acquisition and follows the completion of a capital…

Severe European weather in June expected to costs insurers at least €1.24bn: Aon

Severe European weather in June expected to costs insurers at least €1.24bn: Aon

Severe European weather in June expected to costs insurers at least €1.24bn: Aon

Severe weather events across Europe last month caused at least €1.42bn of economic damage, with insurance expected to cover about €1.24bn of the losses, according to Aon. In its latest Global Catastrophe Recap report, the broker says that weather between 10 June and 12 June resulted in large hail, strong gusts of wind and intense rainfall across multiple countries in central…

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

Germany, Australia and the US likely hotbeds for future climate-related litigation, says lawyer

A leading lawyer has named Germany, the US and Australia as the three jurisdictions where companies are most likely to face future climate-related litigation. Neil Beresford, a Clyde & Co partner in London, also warned that while such litigation around the world is mostly focused on energy companies and their use of petroleum, other sectors will likely be in the…

Global premiums top $5trn, led by China and emerging Asia, says Swiss Re

Global premiums top $5trn, led by China and emerging Asia, says Swiss Re

Global premiums top $5trn, led by China and emerging Asia, says Swiss Re

Solid growth in the global non-life insurance sector – particularly in China and other countries in emerging Asia, but also among advanced markets – saw global insurance premiums pass the $5trn mark for the first time in 2018, according to Swiss Re. This is equivalent to more than 6% of global gross domestic product (GDP). The latest sigma from Swiss…

Ferma names Dirk Wegener as next president

Ferma names Dirk Wegener as next president

Ferma names Dirk Wegener as next president

Ferma has elected GVNW member Dirk Wegener as its next president. Mr Wegener, currently Ferma’s vice-president and global head of corporate insurance for Deutsche Bank Group, will succeed Jo Willaert at the federation’s Risk Management Forum in Berlin this November. He was elected by Ferma’s new board on Tuesday, following the federation’s general assembly. Having started his career in the…

Companies will look elsewhere if insurers do not deliver on cyber, say German buyers

Companies will look elsewhere if insurers do not deliver on cyber, say German buyers

Companies will look elsewhere if insurers do not deliver on cyber, say German buyers

Commercial insurers need to be careful that they do not limit their ability to help companies manage cyber risk and force them to seek other solutions, warn German participants in our Risk Frontiers Europe project. GVNW board member Antje Mertens said insurers are reducing limits for cyber risk as they learn more about the scale of the issue and deal…

German insurtech gathers momentum as Cologne announces April trade fair

German insurtech gathers momentum as Cologne announces April trade fair

German insurtech gathers momentum as Cologne announces April trade fair

Germany’s insurtech hub InsurLab has confirmed that it will hold its first trade fair in Cologne on April 21-22, 2020, in partnership with Koelnmesse, as momentum and funding behind insurtech in the country gathers momentum. InsurLab, launched in 2017 after the federal government revealed that Cologne would be the nation’s insurtech centre, said the insureNXT|CGN event will “contribute to shaping…

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Theft from trucks continues to account for the highest proportion of cargo thefts worldwide and the threat from insiders – employees, contractors and even business partners – continues to rise, according to analysis carried out by transport insurer TT Club and supply chain intelligence firm BSI. The Global Cargo Theft Intelligence Report for 2018 found that thefts from trucks accounted for 84%…

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits pushed onto risk agenda in Germany, Netherlands and UK

Employee benefits, mental health and wellbeing continue to rise up the corporate risk and insurance management agenda, according to discussion at leading national events in Germany, the UK and the Netherlands in recent weeks. Risk and insurance managers are increasingly finding themselves in discussion with their colleagues in human resources (HR) and the c-suite about how their insurance management expertise…

Sompo International to grow EEA business

Sompo International to grow EEA business

Sompo International to grow EEA business

Sompo International, the Bermuda-based specialty insurer, is looking to grow its portfolio in Europe, according to Thomas Brazil, CEO of SI Insurance (Europe). “Europe is a strategic market for Sompo and we continue to expand our product offerings to our EEA clients. New professional lines capabilities in Germany complement our property, casualty and marine offerings and further enhance SI Insurance…

1 2 3 57