H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

H1 £20bn insured disaster losses almost half the ten-year average, finds Swiss Re

First-half nat cat and man-made disaster losses of $20bn were well down on the $35bn ten-year average, according to preliminary Swiss Re figures. The reinsurer’s sigma numbers show that nat cats caused $18bn of insured losses in the first half of 2018, compared to a ten-year average of $35bn. Man-made disaster losses stood at just $2bn, from an average of…

German risk managers face tough property renewal with HDI as fire losses mount

German risk managers face tough property renewal with HDI as fire losses mount

German risk managers face tough property renewal with HDI as fire losses mount

German insurance managers should not expect relaxed property renewals with HDI Global at coming renewals, as its parent company Talanx sent a clear message during the Hanover-based group’s half-year results that its combined ratio is not good enough and efforts to sort out the book need to be redoubled…

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb appoints Amtrust’s Janet Edey head of management liability for UK and Ireland

Chubb has appointed Janet Edey as head of management liability for the UK and Ireland. In her new role, Ms Edey will be responsible for leading and overseeing the development and execution of Chubb’s management liability strategy. The appointment is effective immediately and Ms Edey will report to Hilda Toh, financial lines manager for UK and Ireland at Chubb. Ms…

Political risks increase across Africa

Political risks increase across Africa

Political risks increase across Africa

Political risk is mostly deteriorating across Africa, according to the latest report from Gallaghers. In its quarterly outlook, it highlights seven Sub Saharan African countries where the threat of political risks is on the increase, compared to just three countries where the risk is declining. The riskier countries in July (compared to January) include Burkino Faso, Ivory Coast, Democratic Republic…

Nigerian insurer wins approval to sell agriculture insurance

Nigerian insurer wins approval to sell agriculture insurance

Nigerian insurer wins approval to sell agriculture insurance

The Nigerian regulator has given Linkage Assurance approval to underwrite agricultural insurance. The ‘no objection’ nod from the National Insurance Commission will enable Linkage to support farmers and service providers in the agricultural value chain for greater sustainability and economic growth. The products approved include Linkage Assurance Crop Insurance Solutions, Linkage Assurance Farm All Risk Insurance, Linkage Assurance Farm Motor…

Demand for cyber cover static and limits bought falling in the US, say brokers

Demand for cyber cover static and limits bought falling in the US, say brokers

Demand for cyber cover static and limits bought falling in the US, say brokers

The US-based Council of Insurance Agents & Brokers (CIAB) has released its biannual Cyber Market Watch Survey, which showed that the cyber insurance take-up rate among US insurance managers remained low at 32%, despite rising awareness of the risk within the c-suite. Some 89% of survey respondents also said that premium pricing remained flat or fell during the past six months.…

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