Market
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RMS says Hurricane Nicholas losses will range between $1.1bn and $2.2bn
RMS estimates that US insured losses from Hurricane Nicholas will be between $1.1bn and $2.2bn. The figures includes wind, storm…
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Hurricane Ida pushes The Hanover over Q3 cat budget
Hurricane Ida losses have pushed The Hanover Insurance Group beyond its catastrophe allowance for the third quarter. The US group…
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MGA Volante to launch Lloyd’s syndicate in next stage of growth
MGA Volante Capital Holdings has received in-principle approval for a new Lloyd’s syndicate to open for the 2022 year of…
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Cost of UK D&O cover more than doubled in H1 but rises may have peaked: Marsh
UK buyers of D&O liability insurance faced a 110% jump in the cost of premiums during the first half of…
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JBA and Reinsurance Solutions to support African insurers for flood risk management
JBA Flood Risk Management and Reinsurance Solutions Intermediary Services (RSIS) is set to use the JBA global flood modelling capability…
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Hurricane Nicholas insured losses about $950m: Karen Clark
Insured losses from Hurricane Nicholas will be close to $950m, according to modelling firm Karen Clark & Co (KCC). As…
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RMS ups Ida loss to $31bn-$44bn on back of inland flooding
RMS has increased its onshore and offshore insured loss estimate for Hurricane Ida to $31bn-$44bn, after adding $6bn-$9bn of claims…
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Buyers urge insurers to up game as trust erodes in hard market
Although the commercial insurance market needed a correction, little recognition of risk management efforts or differentiation between long-term buying partners…
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MGAs’ intermediated premiums worth $100bn in 2020, new research says
MGA revenues earned worldwide had a value of about $12.5bn in 2020, according to analysis of the market carried out…
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Price rises for US commercial cover continued to ease in Q2: Willis
US commercial insurance price increases continued to ease in the second quarter of 2021 to an average of 6%, though…
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AIR ups Ida estimate to $20bn-$30bn on back of inland flood losses
AIR Worldwide has increased its insured loss estimate for Hurricane Ida to between $20bn and $30bn after adding the impacts…
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Africa Re posts profit of $23.7m in first half of 2021, despite pandemic
The African Reinsurance Corporation (Africa Re) has posted a net profit of $23.7m for the first six months of 2021,…
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Hannover Re expects further hardening at renewals next year
Insurance and reinsurance buyers of natural catastrophe, German industrial and cyber cover are all expected to see further price increases…
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German business needs greater cooperation to secure resilience and supply chains
Dr Martin Wansleben, CEO of the Association of German Chambers of Industry and Commerce (DIHK), addressed the difficulties experienced by…
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Insurers must embrace the flexible workplace of tomorrow: Allianz
Bettina Dietsche, chief operating and people officer at Allianz, shared her experience of working arrangements during Covid-19, including a look…
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Sasria asks South African government for aid
Sasria, South Africa’s main insurer for strikes, riots, terrorism and civil commotion, has asked the government for a financial bailout…
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AIG promises German risk managers improved access to decision-makers
GVNW members will have been delighted to hear Peter Zaffino, president and CEO of AIG, tell them to pick up…
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Zaffino tells German risk managers tough cyber market here to stay
Peter Zaffino, CEO of AIG, is the latest insurance industry leader to clearly rule out any softening in the cyber…
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German broker chief backs call for state backing for systemic risks
Dr Hans-Georg Jenssen, chairman of the German brokers’ association BDVM echoed GVNW chairman Alexander Mahnke’s call yesterday for a public-private…
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WTW seeks acquisitions as it targets $10bn+ revenue boost by 2024
Willis Towers Watson (WTW) has outlined a bold plan to deliver more than $10bn in revenues and a 25% margin…