Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

Insurers lobby for European-wide drone legislation to better deliver for clients

The EU should close gaps between member states’ drone regulations that currently restrict insurers’ ability to deliver risk-transfer solutions, said the industry’s federation Insurance Europe. In response to the EC’s consultation on technical standards for drones, Insurance Europe calls for a common framework to license, certificate, authorise and classify drone use at EU level. The European federation said insurers’ interest…

Insurance sector M&A deals on increase, but more challenging – Moody’s

Insurance sector M&A deals on increase, but more challenging – Moody’s

Insurance sector M&A deals on increase, but more challenging – Moody’s

More M&A deals in the re/insurance sector are on the way but will be more challenging, according to Moody’s. It said firms are seeking to broaden their depth, scale and market relevance through M&As. However, it explained that “although the current operating environment is still supportive of M&A transactions, the number of potential candidates has declined, and sellers’ expectations of…

First-quarter underwriting profit for private US P&C insurers

First-quarter underwriting profit for private US P&C insurers

First-quarter underwriting profit for private US P&C insurers

Private US property/casualty insurers recorded a net underwriting profit of $4.2bn in the first quarter of 2018, following underwriting losses for seven quarters in a row, according to Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI). The group of US insurers saw their net income after taxes more than double to $17.1bn in the first…

TMK begins rollout of robotics to automate processes

TMK begins rollout of robotics to automate processes

TMK begins rollout of robotics to automate processes

Tokio Marine Kiln (TMK) will use robotics to automate its marine transactions through a partnership with NTT DATA UK. The service to automate marine transactions promises to speed up transactions, reduce errors and process transactions out of normal business hours. It will be delivered by NTT DATA UK’s Cargo 10 Virtual Worker and other automated processes TMK is expected to…

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

UK insurance industry gender pay gap double national average, shows CII data

The UK insurance industry has a gender pay gap of 24%, which is double the average across all sectors, according to analysis of almost 200 insurers, intermediaries and service providers by the Chartered Insurance Institute (CII). UK companies with more than 250 employees were required to publish gender pay gap data in April this year. The national average median gender…

Zurich pinches Allied World’s Bertagna as it looks to MGA market for growth

Zurich pinches Allied World’s Bertagna as it looks to MGA market for growth

Zurich pinches Allied World’s Bertagna as it looks to MGA market for growth

Zurich Insurance wants to work with more with managing general agents (MGAs) to expand its distribution channels and open doors to new buyers. It has appointed Enrico Bertagna from Allied World to lead the charge. Zurich said the MGA market offers a “significant business opportunity”, with the potential to access different portfolios. It added that MGAs are looking for partners…

UK Brexit whitepaper ‘real blow’ for financial services, say representatives

UK Brexit whitepaper ‘real blow’ for financial services, say representatives

UK Brexit whitepaper ‘real blow’ for financial services, say representatives

Representatives of UK financial services have described new proposals put forward by their government for EU trade post-Brexit as a “real blow” that would restrict their ability to serve European customers. But wider business sectors, particularly those that deal with goods, have broadly welcomed the plans. The UK government published a Brexit whitepaper yesterday that lays out its hopes for…

Need for investment insurance to support African growth

Need for investment insurance to support African growth

Need for investment insurance to support African growth

The African Trade Insurance Agency (ATI) has urged Nigeria and other countries to focus on de-risking their economies to drive future investment growth. During its participation in Afreximbank’s 2018 Annual Meetings and 25th anniversary celebrations, Ade Ayeyemi, Ecobank’s Group CEO, warned that investors would run away from Africa unless adequate risk measures were put in place to address actual and…

Preparing for smooth sailing – whatever Brexit outcome is reached

Preparing for smooth sailing – whatever Brexit outcome is reached

Preparing for smooth sailing – whatever Brexit outcome is reached

As the UK Government sets out its desired future relationship with the EU and the negotiations move into their final phase in the coming months, it will come as no surprise that Brexit is a subject featuring more and more in our conversations with customers and distributors alike. Understandably, they want to know what the post-Brexit world will mean for…

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