Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Growing demand for multinational insurance despite headwinds

Demand for multinational insurance programmes continues to rise despite mounting anti-globalisation sentiment and protectionism, with captives, mid-sized companies and firms from emerging markets driving growth. Some companies in mature markets have scaled back programmes as they reduce their global footprint, but are generally looking at covering a wider range of risks in international programmes. According to brokers and insurers, demand…

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG to affirm or exclude cyber cover in P&C policies from January 2020

AIG announced yesterday that, as of January 2020, virtually all of its commercial property and casualty policies will begin affirmatively covering or excluding physical and non-physical cyber exposures. The US-based international insurance group said this move will address “market concerns” that traditional commercial insurance policies across the industry – from property to general liability – are often silent about cyber…

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Political risk capacity rides high at more than $3bn

Capacity for political risks is riding close to an “all-time high” at $3.09bn and is also strong for buyers in the credit insurance market, according to analysis from broker Gallagher. It said that trade and secured non-trade government counterparty capacity stands at $3.12bn, with a further $2.48bn for trade and secured non-trade private counterparty risks. Capacity for unsecured non-trade stands…

Corporate debt dynamics increase risk of hard landing for China’s economy

Corporate debt dynamics increase risk of hard landing for China’s economy

Corporate debt dynamics increase risk of hard landing for China’s economy

Recent efforts by the Chinese government to cushion its economic slowdown, partly sparked by the trade dispute with the US, by cutting taxes and easing monetary policy, are forcing corporate debt levels up again and will make it more difficult to avoid an economic hard landing in the medium term, according to trade credit insurer Atradius. The has insurer published…

US firms Travelers and Berkley report rising insurance rate increases

US firms Travelers and Berkley report rising insurance rate increases

US firms Travelers and Berkley report rising insurance rate increases

US insurers Travelers and WR Berkley said rate increases are rising as they delivered solid second-quarter and half-year results. Travelers saw net income rise 6% in the second quarter to $557m. It was up 13% to $1.35bn for the first half of the year. The company’s combined ratio stood at 98.4% in Q2, from 98.1% in the same period of…

New credit and political risk underwriter for Canopius Asia-Pacific

New credit and political risk underwriter for Canopius Asia-Pacific

New credit and political risk underwriter for Canopius Asia-Pacific

Global specialty (re)insurer Canopius has appointed Jamie Jeffers as underwriter, credit and political risk, Canopius Asia-Pacific. The appointment is effective from 9 September 2019. Mr Jeffers will join Canopius from Willis Towers Watson, where he served as executive director, financial solutions – credit and political risk. He will be based in Singapore and will report to Yann Marmonier, head of…

Insurance costs to rise as two more tankers hit in Gulf of Oman

Insurance costs to rise as two more tankers hit in Gulf of Oman

Insurance costs to rise as two more tankers hit in Gulf of Oman

Two further torpedo attacks on oil tankers in the Gulf of Oman that left one vessel ablaze and both adrift are likely to drive insurance rates up and persuade marine and energy insurers to tighten conditions, according to international law firm DWF. The likely total value of goods involved in the latest attacks is about $65m, according to risk management…

Business risks rocked by political uncertainty: PwC CEO survey

Business risks rocked by political uncertainty: PwC CEO survey

Business risks rocked by political uncertainty: PwC CEO survey

Government-related threats, led by overregulation, are dominating the top ten risk list for CEOs, with policy uncertainty and trade conflicts two new issues entering the list, at number two and four respectively, according to PwC’s 22nd Annual Global CEO Survey. Political uncertainty and concerns over trade have pushed risks such as terrorism and climate change out of the top ten…

Rising concern over geopolitical risks and growing interest in transfer option

Rising concern over geopolitical risks and growing interest in transfer option

Rising concern over geopolitical risks and growing interest in transfer option

As geopolitical risks fly up the risk management agenda, Willis Towers Watson has found lively interest in its new suite of geopolitical risk services and products based on a partnership with Oxford Analytica. Geopolitical risks are an increasing threat as companies wake up to the serious impact political volatility can have upon their business in the global, integrated economy. Willis…

Dutch risk managers warn colleagues to prepare for sustained hard market

Dutch risk managers warn colleagues to prepare for sustained hard market

Dutch risk managers warn colleagues to prepare for sustained hard market

Leading Dutch risk managers have warned fellow risk and insurance managers across Europe that, in their view, the commercial market is definitely hardening and is likely to continue. There is also rising concern about the appetite of the leading insurers for global programmes business. The risk managers said the best response to the hardening market is to continue in the…

1 2 3 20