Insurance
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Modest growth for Korean non-life sector in 2017
The Korean insurance market continued to slow down in 2017, declining by 1.9% compared to the previous year, amid improving…
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Insurers relocating to Luxembourg due to Brexit drive major premium growth
Luxembourg’s insurance regulator, Commissariat aux Assurances, has revealed that the insurance sector saw all-lines combined insurance premiums increase by 10.11%…
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XL Catlin appoints global head of claims
Brent Hoffman has been appointed as global head of claims for XL Catlin. The appointment takes place with immediate effect…
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BCI canvassing response to supply chain resilience survey
The Business Continuity Institute (BCI) is now seeking responses to its Supply Chain Resilience Survey, and we encourage our readers…
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German insurance managers brace for tougher renewals
The time has come to stop the rot in the German commercial and corporate insurance business and deal with inadequate…
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Bridging the protection gap with novel forms of risk transfer
Parametric insurance is insurance in which the payment is triggered by reference to a pre-determined parameter or ‘index’ that stands…
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IFRS 17 will increase costs for insurers but improve financial transparency, survey finds
The new International Financial Reporting Standard (IFRS 17) will increase the complexity and cost of operating in the insurance industry,…
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Beazley appoints London-based breach response manager
Beazley has appointed Helen Nuttall as breach response manager, strengthening its London-based international breach response team. She will be responsible…
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Zurich’s CFO plays down merger talk amid speculation of interest from Allianz
Zurich’s CFO George Quinn has talked down the idea of a big merger or deal involving his firm, following market…
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Cat modellers warn Europe of hail risk as storms cause $1.5bn US loss
US wind and hailstorms in April 2018 are expected to cost insurers at least $1.5bn, according to Aon Benfield’s Impact…
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Marsh’s Jelf completes Clark Thomson acquisition
Marsh’s new UK risk management and employee benefits subsidiary Jelf has completed the acquisition of Clark Thomson, the largest independent…
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Cameroon still facing political instability
Fitch Ratings has affirmed Cameroon's long-term foreign-currency Issuer Default Rating (IDR) at B with a stable outlook, despite concerns about…
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Many US mid-market companies not properly insuring international exposures
Recent research by US insurer The Hartford has found that while 80% of US respondents said they have some aspect…
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EC’s collective redress proposals open door for US-style litigation, warns source
An insurance industry insider has added to the list of those concerned about the EC’s proposed collective redress system, claiming…
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Pressure drops on Duperreault as Icahn reportedly sells AIG stake
AIG’s struggle with billionaire investor Carl Icahn – who took a major stake in the group and attempted to force…
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Zurich premium growth flat in Q1 as focus turns to profit
Zurich Insurance Group saw P&C first-quarter premiums climb to $9.33bn from $8.92bn, up 5% in US dollars but down 1%…
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Beazley covers charities for event cancellation
Beazley has launched a worldwide event cancellation insurance product for registered charities to protect costs and loss of revenue. Beazley…
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Willis Towers Watson appoints Zana to new European cyber role
Willis Towers Watson has appointed Corrado Zana to its cyber risk solutions business as client engagement and strategy leader for…
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Whistleblowing trend drives D&O concerns
With whistleblowing set to increase throughout Europe following plans recently announced by the EC, companies are advised to keep a…
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Data still needed if insurers are to price risks better
Risk managers have been warned to provide more data or risk higher prices, as insurers continue to lack information on…