Insurance
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Power deal for Uganda and Sudan
Siemens has signed a memorandum of understanding (MoU) to work more closely with the African countries Uganda and Sudan in…
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New law firm members boost francophone Africa legal group
Africa Legal Network (ALN) has signed up three new members as part of its strategy to expand into francophone Africa.…
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Liberty denies Pembroke sale post Ironshore acquisition: No change for Europe
Liberty Mutual has allegedly denied the rumours that it plans to sell Lloyd's agency Pembroke that arose with the $3bn…
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AIG returns to profit in first quarter
AIG posted better than expected earnings in the first quarter, helped by cost cutting and lower catastrophe losses. It follows…
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Aubert reappointed chair of LMG
The London Market Group (LMG) has reappointed Nicolas Aubert as its chair for a further year. Mr Aubert, head of…
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Piracy attacks increase in first quarter: IMB
Piracy increased during the first quarter of 2017 as hotspots continued off Nigeria and around the southern Philippines, according to…
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Beazley expands financial lines presence in continental Europe
Beazley has appointed Lorena Segovia to the newly created role of financial lines regional manager for continental Europe. Ms Segovia…
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Intact to acquire OneBeacon to expand US specialty business
Canada’s Intact Financial Corporation is to acquire OneBeacon Insurance Group for an aggregate cash consideration of about $1.7bn. The combination…
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Liberty Mutual Insurance consolidates US specialty operations under the Ironshore brand
Liberty Mutual is combining its existing Liberty International Underwriters US business and Ironshore’s US specialty lines business under the Ironshore…
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Quebec compensation tax on insurers extended until 2022
The Quebec Economic Plan includes an extension of the compensation tax on financial institutions for another five years, designed to…
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FM Global policyholders to share $435m from surplus
Member commercial policyholders of mutual insurer FM Global will share an estimated $435m on renewed policies between 30 June 2017…
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QBE plans to move European headquarters from London due to Brexit
QBE Insurance Group has confirmed that it will move its European headquarters from London in preparation for the UK leaving…
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South Korea fines Novartis $49m amid corporate clampdown
Swiss drugmaker Novartis has been hit with a $48.8m fine by South Korean authorities for offering bribes to doctors who…
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Insurtech funding drops 64% in a year: report
Funding for insurtech startups dropped by 64% in the first quarter of 2017 compared to the previous year’s opening quarter,…
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Philippines insurers struggling to balance growth with profitability: AM Best
While the Philippines non-life insurance sector has enjoyed another solid year, with gross and net premiums both outpacing growth in…
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Fidelis to form MGA partnership with Nexus
Bermuda-based Fidelis Insurance is backing Rob Ashton, former head of specialty at Hiscox Re, to establish a partnership with Nexus,…
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Tokio Marine Kiln to offer insurance for drone testing
Japan-based speciality insurer Tokio Marine Kiln (TMK) is to provide insurance for the testing of drone-based services. The policy, which…
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StarStone appoints global head of accident and health
StarStone, the London-based global specialty insurer, has announced the appointment of Jeff Herman as global head of accident and health…
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QBE hires new CRO for Australia and NZ division
QBE Australia and New Zealand has appointed Mark Baxter as new chief risk officer (CRO), replacing Anna Gould, who takes…
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BIBA launches pollution product for environmental contractors
The British Insurance Brokers' Association (BIBA) has launched an insurance package for environmental contractors in the UK. The scheme is…