GRM News & Analysis
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London still losing ground to New York as world’s leading financial centre
A new report from Duff & Phelps suggests that London continues to lose ground to New York as the world’s…
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Vermont licenses 1,200th captive
Vermont continues to grow as a captive domicile and has licensed its 1,200th captive insurance company. Assurance Company was granted…
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HDI expands liability team with sharper international focus
HDI Global is beefing up its core liability capability by expanding its senior management team and “resetting” the businesses strategy…
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Argo reports $19.7m net loss in Q4 and $76.5m for full year
Bermudian (re)insurer Argo Group International reported a net loss of $19.7m for Q4 last year, down from a loss of…
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Australian regulator latest to question Aon-WTW deal
Australia’s competition regulator has raised “concerns” over Aon’s planned acquisition of Willis Towers Watson (WTW) because it could drive higher…
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AIG’s commercial rates up 15% in Q4 with hardening set for 2021
AIG reported “strong” 15% commercial rate increases in the fourth quarter of last year and believes market hardening will continue…
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ClimateWise insurers boost climate risk disclosures in 2020
The ClimateWise group of (re)insurers has improved its climate change disclosures as regulators take a step closer to mandating action…
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AIG’s general insurance income almost halves despite Q4 rebound
AIG’s general insurance business saw adjusted pre-tax income fall to $1.9bn last year from $3.53bn, despite a rebound in Q4…
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Most P&I insurers to increase rates for 2021/2022
Ten of 13 mutual insurer marine protection and indemnity (P&I) clubs that constitute the International Group will increase rates at…
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New Lloyd’s legacy syndicate launched by Apollo and Compre
Apollo Syndicate Management and Compre have launched the new Lloyd’s legacy business-focused Syndicate 1994, which has received approval from Lloyd’s.
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Guernsey expects significant rise in new captives from fast-track pilot
Last year, Guernsey licensed seven new captives, but the domicile expects to see a significant rise in 2021, according to…
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China sees steady premium growth in 2020
The China Banking and Insurance Regulatory Commission (CBIRC) has highlighted steady premium income growth in 2020 for China's insurance sector,…
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Isle of Man ramps up captive offering with digital marketing campaign
In a sure sign that the captive insurance sector is seeing considerable interest as the hard market bites, the Isle…
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Biden’s focus on climate risk to force US insurers’ hand, says AM Best
Increased legislative and regulatory focus on climate risk in the US under new President Joe Biden will see US (re)insurers…
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Eiopa still mulling pan-European pandemic and multi-risk NDBI pool
A new consultation paper from Eiopa on how best to improve business interruption (BI) insurability in light of Covid-19, concludes…
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Africa Specialty Risks Group increases capacity for Africa
Africa Specialty Risks (ASR) has secured additional multi-year binder capacity of up to $25m per risk through a partnership with…
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Duperreault will stand down as AIG’s executive chair at end of year
Brian Duperreault, who is due to step down as AIG CEO in March to become executive chairman, will only serve…
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Sompo International reports strong premium growth on back of rising rates
Sompo International (SI), the Bermuda-based global specialty insurance and reinsurance arm of leading Japanese insurer Sompo Holdings, has reported strong…
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Proactive strategies needed to deal with tough US market conditions, says Brown & Brown
The US property market in 2021 is expected to see substantial rate and deductible increases, reductions in capacity, coverage restrictions…
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New Guernsey captive management facility from Davies
Davies has launched a new captive management facility in Guernsey, following regulatory approval from the Guernsey Financial Services Commission. According…