Storm Eberhard insured losses up to €1.5bn: AIR

Storm Eberhard insured losses up to €1.5bn: AIR

Storm Eberhard insured losses up to €1.5bn: AIR

Insured losses from winter Storm Eberhard will range between €900m and €1.5bn, with the majority coming in Germany, according to AIR Worldwide. AIR’s loss estimate includes property damage and business interruption. Eberhard first struck the UK, the Netherlands and Belgium on 9 March. It then moved onto Germany before heading further east to Austria, the Czech Republic and Poland. The…

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton Insurance Group has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency platform at Lloyd’s and Dublin-based Ironshore Europe DAC (IEDAC). Hamilton is the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and at Lloyd’s. According to Hamilton: “The complementary profile of Pembroke and IEDAC’s business both accelerates the company’s goal of…

Generali reports strong 2018 results but GC&C hit by big claims

Generali reports strong 2018 results but GC&C hit by big claims

Generali reports strong 2018 results but GC&C hit by big claims

Generali has delivered a strong set of 2018 results and group CEO Philippe Donnet was pleased to reveal that the Italy-based international insurance group has exceeded all targets in its 2015 to 2018 strategic plan. The only real blackspot on the figures was delivered by the group’s corporate insurance arm – Generali Corporate & Commercial (GC&C). It was hit by…

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis Towers Watson has tapped Marsh for its new head of marine broking, and power and utilities CEEMA region leader. Willis Towers Watson has appointed David Ripton as head of broking, global marine in its corporate risk and broking unit. Mr Ripton joins Willis’s global marine team from Marsh, where he worked as CEO for UK marine business. In his…

OECD tax proposals go beyond taxation of digital business models

OECD tax proposals go beyond taxation of digital business models

OECD tax proposals go beyond taxation of digital business models

The Organisation for Economic Co-operation and Development’s (OECD) efforts to address taxation challenges that result from digitalisation would lead to fundamental changes in the existing international tax system, according to Insurance Europe. It said the OECD’s initial proposals go far beyond the mere taxation of digital business models. Insurance Europe said it believes that any adaptations should focus on aggressive…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…