RSA agrees £7.2bn sale to Intact and Tryg

RSA agrees £7.2bn sale to Intact and Tryg

RSA agrees £7.2bn sale to Intact and Tryg

RSA has agreed a £7.2bn sale to Intact Financial and Tryg that will see the insurer broken up. Scandinavian insurer Tryg will pay £4.2bn for RSA’s Swedish and Norwegian business. The deal will also see it co-own RSA’s Danish business, Codan, with Intact. Canadian firm Intact will pay £3bn to acquire RSA’s Canada, UK and International operations. The joint bid…

Pandemics, climate and cyber top AXA risk list

Pandemics, climate and cyber top AXA risk list

Pandemics, climate and cyber top AXA risk list

Pandemics and infectious diseases have unsurprisingly jumped above climate change and cyber risk to become the number risks during the next five to ten years, in AXA’s 2020 Future Risks Report and survey. The report is based on a global poll of more than 2,600 experts from the world of risk management and insurance. In addition, just short of 19,000…

Multinationals face heightened Covid-19 fuelled political and civil unrest

Multinationals face heightened Covid-19 fuelled political and civil unrest

Multinationals face heightened Covid-19 fuelled political and civil unrest

Multinational companies must beware of growing civil unrest across the world this year and into 2021, particularly in countries with populist governments, as Covid-19 ramps up already rising tensions, warned speakers at Commercial Risk’s global programme conference. Ludovic Subran, Alianz’s chief economist, said there is heightened risk of social unrest in the US this year as it goes to the…

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty has appointed Thomas Barenthein as managing director of its Scandinavian branch. He also joins the executive board and replaces Mats Westerborn, who will become general manager of aviation at HDI’s Scandinavian branch. Mr Barenthein joins HDI from Inter Hannover, where he was managing director for Sweden and chief branch officer. HDI’s Scandinavian branch in Stockholm is its…

AMRAE reports extremely tough market for French buyers and warns of ‘bitter’ renewals

AMRAE reports extremely tough market for French buyers and warns of ‘bitter’ renewals

AMRAE reports extremely tough market for French buyers and warns of ‘bitter’ renewals

A new AMRAE report finds that the French insurance market is now hard pretty much across the board and warns of “rising tensions” as we enter what it predicts will be a “bitter” renewal season. A graphic included in the association’s annual State of the Market provides a worrying illustration of how gloomy the picture looks right now for French buyers. The graphic’s…

German insurers defend price rises after years of losses

German insurers defend price rises after years of losses

German insurers defend price rises after years of losses

Leading German industrial insurers used a panel debate at the close of last week’s virtual GVNW Symposium to justify rising premiums of up to 30% and limited capacity, as some risk managers struggle to complete their programmes. “It is well known that industrial lines have seen losses in recent years – there has to be a reaction,” said Henning Haagen,…

Pandemic fuelled political risks rise in every country during H1, says Marsh JLT

Pandemic fuelled political risks rise in every country during H1, says Marsh JLT

Pandemic fuelled political risks rise in every country during H1, says Marsh JLT

Political risks increased in every country across the world during the first half of 2020 as the Covid-19 pandemic accelerated social unrest and economic fallout, according to Marsh JLT Specialty. Publishing a mid-year update to its Political Risk Map, Marsh JLT said all 197 countries it tracks recorded higher risk scores by the end of July than the beginning of…

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

Terror threat spreads in 2020 with civil commotion risk rising in advanced economies: Aon

More countries face the threat of terrorism in 2020 than last year, with multinationals increasingly at risk from right-wing extremists, finds Aon’s latest terrorism and political violence risk map. The map, produced in partnership with Risk Advisory, also shows that the risk of civil commotion is on the rise in advanced economies and is being exacerbated by Covid-19. Aon’s overall…

AXA XL falls to €843m loss on back of pandemic hit

AXA XL falls to €843m loss on back of pandemic hit

AXA XL falls to €843m loss on back of pandemic hit

AXA XL posted a €843m loss in the first half of this year as the unit bore the brunt of its parent group’s €1.5bn Covid-19 hit, but accelerating rate increases are expected to continue and may limit some of the damage. AXA XL fell to the loss from a profit of €603m in the first half of last year. Its…

Emerging markets face ‘unparalleled’ civil unrest as pandemic takes toll, warns Maplecroft

Emerging markets face ‘unparalleled’ civil unrest as pandemic takes toll, warns Maplecroft

Emerging markets face ‘unparalleled’ civil unrest as pandemic takes toll, warns Maplecroft

Some 37 countries are at risk of major civil unrest before the end of 2020 as the economic fallout from Covid-19 spikes, with emerging markets most under threat, according to analysis from Verisk Maplecroft. Protests are set to swell as unemployment rates climb and the pandemic sends economies into reverse, inflaming existing public anger with governments, said the firm. It…

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