Insurance
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Gauteng insurance councillor of the year named
The Insurance Institute of Gauteng (IIG) has announced that Olivia Smith has been named Councillor of the Year at their…
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Investor tensions behind Hancock’s AIG resignation claim reports
Outgoing AIG chief executive Peter Hancock was urged to step down from his position to avoid further tensions with activist…
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Pool Re to extend property cover to cyber terror attacks
Pool Re, the UK’s government-backed terrorism reinsurance fund, is interested in extending cover to include physical damage from cyber terrorism,…
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US and Japanese regulators discuss issues of mutual concern
Regulators of the world’s two largest insurance markets have come together to discuss regulatory issues of mutual concern. Representatives from…
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London market updates nuclear risk wording
The London market has introduced a new wording for nuclear risks to boost insurance cover for nuclear construction projects. The…
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Fairfax increases cash component of its Allied World Assurance offer
As part of its $4.9bn acquisition of Allied World Assurance, Canadian financial group Fairfax Financial Holdings has exercised its option…
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Malaysian central bank decries competition watchdog attack on insurance sector
Bank Negara Malaysia has described the decision by the Malaysia Competition Commission (MyCC) to fine the 22 members of the…
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IMF could release pressure on west African states as oil price remains low
Potential International Monetary Fund (IMF) programmes for Gabon (B+/Negative), Cameroon (B/Stable) and the Republic of Congo (CCC) would ease some…
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Somali pirates strike again
Risk managers have been warned to increase their vigilance around the threat of a piracy attack in Somali waters after…
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Chinese regulator reveals big social plans for 2017
The China Insurance Regulatory Commission (CIRC) has laid out its big plans for the year and says it will focus…
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Fairfax to switch partners in India as it shifts to Oben
Rapidly expanding Canadian financial conglomerate Fairfax has been given approval to set up a second non-life insurance joint venture in…
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Underinsurance troubles high net worth buyers: survey
New research by Chubb has revealed that over half – 54% – of high net worth individuals surveyed worry that…
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Indian insurance buyers can expect tougher renewals
Indian non-life insurance rates will rise by up to 15% in some classes of business in the coming 1 April…
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China tightens rules on offshore reinsurance
The China Insurance Regulatory Commission (CIRC) has introduced new rules on collateral requirements for Chinese insurers when they buy reinsurance…
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JLT launches social engineering cybercrime policy
JLT Specialty has launched a crime and social engineering (CASE) insurance policy in response to growing concerns about fraud perpetrated…
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Insurers battle to win trust of Nigerian consumers and businesses alike
Risk managers in Lagos have spoken out about the level of mistrust around insurance, as a new survey reveals that…
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Kenya’s new Bribery Act set to make major changes
Risk managers in Kenya – or anyone with business interests in the east African state – need to be aware…
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Changing technology, increased regulation, shifting customer behaviour and the threat of new entrants top insurance CEO concerns
Insurance CEOs are acutely aware of the disruption and change facing their industry, according to the 20th CEO survey from…
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Investors close to easier arbitration as South Africa falls into line with more than 70 other countries
The South African government is expected to enact the International Arbitration Bill in the coming weeks, after agreeing a Bill…
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Kenya’s motor insurance faces uncertain future
Kenya’s insurance companies that rely on motor insurance for the bulk of their revenue face an uncertain future, following a…