CRE Insurance
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French stress test finds nat cat losses and rates would more than double by 2050
France’s financial markets supervisor ACPR has released the results of its second-ever stress test exercise for the insurance industry, and…
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UK U-turns on compensation scheme change after threat to EEA insurance branches
London market insurers have given their backing to the regulator’s U-turn to widen the scope of the UK’s compensation scheme…
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EC voices concern over emerging systemic risks posed by insurers and NBFI sectors
The European Commission said “vulnerabilities and risks” posed by non-bank financial intermediaries (NBFI), including insurers and pension funds, will be…
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French specialist aviation broker joins Brokerslink network
Brokerslink has added a new French specialist aviation broker, Air Courtage Assurances, to its network. The French brokerage firm has…
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Supply chain disruption driving political risk losses, finds WTW
The majority of multinational companies (76%) suffered a political risk loss in the past year, with supply chain disruption due…
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Property insurance pricing now at sustainable levels, says Swiss Re Corporate Solutions
Corporate insurance property rates are now at a sustainable level but insurers must continue to price in exposure trends, Swiss…
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France’s Diot-Siaci buys majority stake in Indian specialty broker Unilight
Leading independent French and global broker Diot-Siaci and the shareholders of Indian corporate risk and reinsurance broker Unilight have entered…
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US parametric group NormanMax launches Lloyd’s syndicate
A new syndicate at Lloyd’s has been launched by US-based parametric (re)insurance group NormanMax Insurance Holdings. Syndicate 3939, managed by…
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Italy flood bill lowered to €495m as law forces firms to buy more property cover
The insurance industry is set to pay out less than €500m in claims from the floods that hit the Emilia-Romagna…
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AM Best maintains negative rating for French non-life insurers
Rating agency AM Best has maintained its negative rating of France’s non-life insurance sector, citing inflationary pressures, low GDP growth…
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UK group risk benefits set record-high claims of £2.49bn in 2023
Group risk protection bought by UK employers for their workforces saw claims increase 13% in 2023 to a record high…
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Generali warns rates will be driven by reinsurance costs
Italy’s largest insurer, Generali, has reported a 9% fall in its Q1 net result to €1.12bn, after adjusting for capital…
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Recent ruling risks causing problems for construction policyholders as insurers move to restrict cover
Work is underway to review “egregiously ambiguous” insurance clauses that tackle construction defects after an unexpected ruling in the US…
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London construction PI market softening ahead of rival hubs with rates down 5% or more
The London construction PI market is now well into a softening phase, with rate reductions of 5% or more available…
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Helvetia restructures for international growth and adds risk management to board
Swiss insurer Helvetia said a new corporate structure from 1 July will reflect its growth in international markets, while elevating…
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Switzerland’s Kessler rolls out ESG ratings to pension funds
Swiss broker Kessler has extended its ESG ratings, already used to help buyers choose their non-life insurer and health insurer…
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London Market increases contribution to UK economy
The London market continues to grow, expanding by 32% between 2020 and 2022, and contributing nearly £50bn to the UK…
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New management liability product from RSA Insurance
RSA Insurance has launched a new comprehensive management liability product in the UK in partnership with MGA Q Underwriting, part…
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P&I group Skuld announces $10m members’ credit after 297% profit increase
Norwegian-based P&I marine insurer Skuld recorded a four-fold increase in its technical result to $60m for the financial year ending…
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Alternative solutions and specialty drive Scor’s Q1 growth
Scor almost doubled its alternative solutions book at April renewals, the French reinsurer said on announcing Q1 2024 results, while…