European commercial prices continue upward trend led by property: Marsh

European commercial prices continue upward trend led by property: Marsh

European commercial prices continue upward trend led by property: Marsh

Prices for continental European commercial insurance coverage increased for the third consecutive quarter, as average commercial insurance pricing rose nearly 6% globally in second-quarter 2019, according to global broker Marsh. The latest Global Insurance Market Index published by the broker reports the largest increase since the survey began in 2012, and the seventh consecutive quarter of average pricing increases in…

AXA XL Insurance appoints Fumagalli head of financial lines in Europe

AXA XL Insurance appoints Fumagalli head of financial lines in Europe

AXA XL Insurance appoints Fumagalli head of financial lines in Europe

AXA XL Insurance has appointed Simona Fumagalli as head of international financial lines, Europe. In her new role, Ms Fumagalli will be responsible for developing AXA XL Insurance’s financial lines underwriting strategies and product offering in the region. In addition, she will remain in her current position as country leader for Italy until a successor has been appointed. Ms Fumagalli…

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister Henry Rotich has pleaded not guilty to corruption charges involving construction of two dams and Italian company CMC de Ravenna. He has also placed a newspaper ad, denying corruption. President Uhuru Kenyatta made a pledge to drive corruption out of government as part of his elections promises. Mr Rotich is reported to have surrendered himself to the…

Seguradoras Unidas acquisition strengthens Generali’s presence in Portugal

Seguradoras Unidas acquisition strengthens Generali’s presence in Portugal

Seguradoras Unidas acquisition strengthens Generali’s presence in Portugal

Generali has become the second largest non-life group in Portugal with the acquisition of Seguradoras Unidas, in a move that aims to strengthen Generali’s leadership in Europe, said the insurance group. Generali now has a share of 18.7% in Portugal’s non-life insurance market. Generali has signed an agreement for the acquisition of 100% of the company Seguradoras Unidas and the…

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Cargo theft loss prevention must focus on insider threat: report

Theft from trucks continues to account for the highest proportion of cargo thefts worldwide and the threat from insiders – employees, contractors and even business partners – continues to rise, according to analysis carried out by transport insurer TT Club and supply chain intelligence firm BSI. The Global Cargo Theft Intelligence Report for 2018 found that thefts from trucks accounted for 84%…

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

Europe dominates FM Global’s resilience risk index

European countries dominate FM Global’s 2019 Resilience Index, taking nine of the top ten positions, led by Norway as the most resilient business environment. FM Global said the top ten was “reshuffled” for 2019, with Norway up from fourth place in 2018. Demark came second, with Switzerland – last year’s most risk-resilient country – in third. The UK was a…

Focus, focus, focus on specialty risks

Focus, focus, focus on specialty risks

Focus, focus, focus on specialty risks

HDI Global Specialty SE launched in January with an expected gross annual premium level of €1.2bn at year-end 2019, after merging the specialty lines activities of Talanx-owned HDI Global and Hannover Re. We spoke to Richard Taylor – the company’s chief marketing officer, chief underwriting officer of short-tail classes and former UK managing director at HDI Global – about the…

Argo appoints CUO for Italy

Argo appoints CUO for Italy

Argo appoints CUO for Italy

Argo Group has appointed Marco Serra as chief underwriting officer for Italy, working for subsidiary ArgoGlobal Assicurazioni in Rome. Mr Serra, who has worked in the industry for 20 years, will report to CEO of ArgoGlobal Assicurazioni Giovanni Tucci. Mr Serra replaces Mario Borrelli. He joins Argo from Navigators, where he worked as underwriting manager for professional and management liability…

Stable outlook for Italian and Spanish non-life insurance sectors, says Best

Stable outlook for Italian and Spanish non-life insurance sectors, says Best

Stable outlook for Italian and Spanish non-life insurance sectors, says Best

AM Best has maintained a stable market segment outlook on both the Italian and Spanish non-life insurance segments. In the case of the Italian market, Best said its outlook was supported by the continued expansion of the segment despite very low economic growth, together with the expectation that good operating results will be maintained, underpinned by sustained strong underwriting profitability.…

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