Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions appoints head of property and specialty for EMEA

Swiss Re Corporate Solutions (SRCS) has appointed Bianca Willauer as head of property and specialty lines for Europe, the Middle East and Africa (EMEA). Based in Munich, Ms Willauer will be responsible for the development and underwriting performance of the group’s property and specialty portfolios throughout the region. Fred Kleiterp, CEO at SRCS EMEA, said: “With her appointment, we gain…

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Munich Re reveals nat cat losses down but calls for better insurance protection in Africa

Last year’s insured global natural catastrophe losses of $52bn were in line with the 30-year average but down on the $67bn average during the past decade, and well below the $86bn in 2018 and record $146bn the year before that, according to Munich Re. Its 2019 insured loss figure backs up the $50bn total for natural disasters from Swiss Re,…

New flood risk model promises to close coverage gaps

New flood risk model promises to close coverage gaps

New flood risk model promises to close coverage gaps

Flood risk management firm JBA Risk Management has launched a global flood model that it says will fill the gaps of existing cat models by allowing insurers and reinsurers to compare risk across their global portfolios. The model can be fully customised to users’ own book of risks, the company added. “The Global Flood Model opens up a whole world…

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Clashes over silent cyber likely at 1 January renewals

Risk managers and brokers will have to work doubly hard during the coming months, as a concerted effort by the insurance market to tackle silent cyber will lead to heated discussions at the year-end renewals, potentially leaving some customers with serious coverage gaps. Despite buyer representatives welcoming the clarity that work to tackle silent cover will bring, a leading broker…

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening market accelerates for mining risks as renewals approach, says Willis report

Hardening in the mining insurance market is accelerating, as large losses and capacity withdrawals make for challenging renewals, according to Willis Towers Watson (WTW). While not yet a true hard market, the tide has turned for property and casualty mining risks, making it harder for some mining companies to purchase the cover they desire, according to the broker’s Mining Risk…

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured H1 nat cat losses of $20bn lowest since 2006: Aon

Insured nat cat losses of $20bn in the first half of this year were 26% below the 18-year average of $27bn and the lowest since 2006, according to an estimate by Aon’s Impact Forecasting. With £73bn of economic costs 22% lower than this century’s average, the half year has generated a protection gap percentage points above the mean average of…

Zurich on track to meet P&C targets as rates rise

Zurich on track to meet P&C targets as rates rise

Zurich on track to meet P&C targets as rates rise

Zurich is on track to meet turnaround targets for its P&C business this year, as it delivered a 4% boost to gross written premiums during Q1 to $9.2bn on like-for-like sales, and average rate increases of 2%. Zurich said it is ahead of targets set for the 2017-2019 period as part of a three-year plan to pull the insurer out…

Brazil dam failure pushes up mining rates in 2019

Brazil dam failure pushes up mining rates in 2019

Brazil dam failure pushes up mining rates in 2019

The Córrego do Feijão dam failure in Brazil, which tragically claimed the lives of more than 300 people in January, has had an immediate impact on capacity for mining sector casualty risks, with rates driven upwards by the loss, according to Marsh in its latest mining sector report. Tailings dams are at particular risk of increased premium rates, Marsh said.…

C-suite and insurers should work together to focus on strong risk management

C-suite and insurers should work together to focus on strong risk management

C-suite and insurers should work together to focus on strong risk management

Risk managers and the c-suite must strengthen their risk management focus if they are to ensure their property portfolios remain insurable. Speaking at the African Insurance Exchange in Sun City this week, Belhassen Tonat, head of short-term insurance at Munich Re of Africa, warned some risks will become uninsurable, unless the c-suite invests in the basics. He said Munich Re…

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