Insurance
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Rates up 4% in Q4 as moderation trend continued: Marsh
Average global commercial insurance rates rose by 4% in Q4 2022 as prices increased for the 21st consecutive quarter but…
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Rousseau replaced as SCOR CEO following poor Q3 results
Thierry Léger, group chief underwriting officer at Swiss Re, is replacing Laurent Rousseau as CEO of SCOR after the Paris-based…
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Marsh posts ‘outstanding’ 2022 result on the back of hard market
John Doyle, president and CEO of Marsh McLennan, described 2022 as an “outstanding year” for the group, which reported net…
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Gallagher expects further rate increases as it reports revenue growth
Primary insurance rates will likely increase further in 2023 as the effect of higher year-end reinsurance costs filter through to…
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Insurers increasingly offer risk prevention and risk engineering services
Insurers are increasingly transforming “from payers to preventers”, offering specialised risk-mitigating coverage, with a focus on risk prevention and risk…
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Beazley offers private equity D&O liability policy
A new private equity D&O liability insurance product has been launched by Beazley. According to the insurer, it focuses on…
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Vietnam launches new insurance market development strategy
The Vietnamese government has formulated the Strategy for the Development of Vietnam’s Insurance Market to 2030, with the goal of…
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BMS appoints managing director of construction
Specialist insurance and reinsurance broker BMS has appointed Caroline Eyre as managing director of construction, effective April 2023. She joins BMS from…
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Higher reinsurance costs likely to reaccelerate primary rate increases
The hardening reinsurance market at 1 January could well “reaccelerate” price increases for commercial property and specialty insurance buyers, market…
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New head of captives in APAC and Europe at AXA XL
Marine Charbonnier has been appointed as head of captives and facultative underwriting, APAC & Europe at AXA XL Insurance. She…
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Insured losses of $132bn from naturals disasters in 2022
Insured losses from natural disasters amounted to $132bn in 2022, the fifth costliest year on record for insurers, according to Aon’s…
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Major industry claims trend report from Sedgwick
Sedgwick has released its Imagine 23 report of major industry trends and issues that are going to dominate the year…
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Lockton opens Swedish office
Lockton is opening a new office in Stockholm, Sweden as it looks to expand in the Nordic region. The broker…
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QBE restructures trade credit senior leadership in Europe
Seb Rice has been appointed commercial head, trade credit at QBE Europe. The move follows a restructuring of the insurer’s…
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Miller splits into international and UK divisions
Miller has reorganised its business into two divisions, Miller UK and Miller International, as part of a strategic re-alignment. Miller International…
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Chaucer and Kita launch first carbon offset failure insurance
Speciality insurer Chaucer has partnered with carbon credit insurance experts Kita to begin insuring companies against the risk of failed…
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BIBA calls on FCA to lower record-high regulatory costs on UK brokers
UK broking association BIBA has called on the country’s financial regulator to lower the sector’s regulatory burden as it revealed…
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Recent California flooding losses up to $1.5bn, says Moody’s RMS
Total US economic losses from the California flooding at the end of last year are estimated at $5bn-$7bn, with insured…
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New EMEA CEO at Swiss Re Corporate Solutions as Kleiterp leaves for Beazley
Swiss Re Corporate Solutions’ EMEA CEO Fred Kleiterp has left his role to become European general manager at Beazley, and…
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Revisit valuations and policy limits as inflation rises, says WTW
WTW has urged risk managers to revisit valuations and policy limits in order to mitigate against inflationary effects and ensure…