GRM Insurance
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New acting CEO appointed by NAIC after resignation
The National Association of Insurance Commissioners (NAIC) Executive Committee has appointed Andrew J. Beal as acting chief executive officer. Beal…
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D&O competition keeping rates lower amid claims uncertainty
Price competition from several newer entrants in the US D&O market has seen a shift in pricing at a time…
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Marsh cyber expert Stephens move from UK to US
Marsh Specialty’s current head of cyber for the UK and International, Sarah Stephens, will take up the role of US…
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Average 8% rate rises help Lloyd’s deliver big jump in underwriting profit
Lloyd’s delivered its highest underwriting profit since 2015 last year at £2.6bn, helped by average 8% rates increases, but big…
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Singapore insurance market expands GWP by 15% in 2022
Singapore’s general insurance sector recorded positive results for both the offshore and domestic segments, with a combined 15% increase in…
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Double-digit premium growth for global reinsurers in 2022
Global reinsurers reported average year-on-year premium growth of 12.1% for 2022, driven by improved pricing for commercial lines and reinsurance…
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Chubb demands oil and gas clients cut methane emissions
Chubb has announced new underwriting criteria for oil and gas extraction projects that will require clients to reduce methane emissions,…
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Commercial insurance price hikes to continue in most lines, says US broker
Commercial insurance rates in the US will continue to rise mainly in the single and low double digits across major…
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Ballantyne Brokers in management buy-out from K2 Insurance Services
Specialist London-based Ballantyne Brokers has seen a management buyout from its parent company K2 Insurance Services. The buyout was led…
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Nirvana appoints leader to build out European MGA underwriting team
Media, tech and cyber MGA Nirvana has appointed Thomas M. Mannsdorfer as part of its leadership team to build out…
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Banking crisis may lead to US D&O market hardening
The high-profile federal takeover of two mid-sized US banks will create a ripple effect that could affect the cost and…
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Directors likely to face ‘swathe of litigation’ over ESG risks
Increasing ESG risks are likely to result in a spike of claims against directors and drive further increases in insurance…
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Cyber insurer CFC expands into SME professional liability and tech E&O
Specialty insurer CFC has expanded into professional liability and technology E&O lines after first launching protection for cyber and emerging…
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MGA Corvus expands German cyber operation as part of central European push
Cyber MGA Corvus Insurance is expanding its Frankfurt, Germany team with new underwriters and a local head of cybersecurity, to…
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Higher primary insurance rates likely as inflation persists: Swiss Re
Inflation may be easing, but claims severity in P&C insurance is set to remain and higher primary insurance rates are…
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New forensic accounting service launched by Davies
Davies has launched a new forensic accounting service that will provide expertise on a list of issues including business interruption,…
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HDI Global eyes strong Asia-Pacific growth on back of 2022 results
HDI Global will continue its strong growth path in the Asia Pacific by launching into the single project professional indemnity…
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Coalition claims new model proves systemic cyber risk is insurable
Cyber insurer Coalition has rolled out an aggregate risk model that it says undermines “ill- and uninformed” arguments that large…
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Extreme cat losses dampen influx of new ILS capital
The insurance-linked securities (ILS) market is at a crossroads and the psychological impact of extreme cat losses in five of…
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Turkish earthquakes financial loss estimated at $103.6bn
The financial loss arising from 6 February earthquakes in Turkey is estimated at TRY2tn or $103.6bn, equivalent to 9% of…