CRE Insurance
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AXA targets above-GDP growth in healthy commercial lines
AXA has revealed a new strategy for 2024 to 2026 that includes an ambition to continue growth in its core…
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Rate increases in Europe will need to rise above inflation, Moody’s warns
Europe’s property/casualty insurers will need to “push through” further rate increases to balance increases in claims costs, according to Moody’s.…
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QBE UK narrows gender and ethnicity pay gaps
QBE UK said its gender pay gap narrowed to 21.9% in 2023 from 24.7% in 2022 and from 32.8% when…
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German insurers issue new model cyber conditions
The German Insurance Industry Association (GDV) has revised its non-binding model conditions for cyber insurance to take into account the…
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Tokio Marine Kiln unveils new CEO and CUO
Specialty insurer Tokio Marine Kiln (TMK) has announced that Matthew Shaw, current chief underwriting officer (CUO), will succeed Brad Irick…
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Corporate Solutions boosts net income by 43% as Swiss Re rebounds after tough 2022
Swiss Re Corporate Solutions increased net income by 42% to $678m last year, as its parent group saw profits jump…
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Howden enters captive market with acquisition of ARM Group
London-based international broker Howden has announced that it has agreed to acquire ARM Group Holdings Limited (ARM), the parent of…
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ITIC launches European subsidiary in Cyprus
Professional indemnity insurer International Transport Intermediaries Club (ITIC) has launched a European subsidiary in Cyprus. International Transport Intermediaries Insurance Company…
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Call for D&O market to plug entity cover gap
D&O insurers are being urged to help plug the gap in cover for growing UK corporate criminal liability. Recent years…
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Sompo International gets insurance licence in France
Sompo International has been granted a licence to write primary insurance in France as it continues to expand across continental…
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Mapfre Global Risks net profit up 40%
Mapfre’s net profit growth of 7.7% to €692m in 2023 was driven by its Mapfre Re unit, which houses Mapfre…
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Covid BI litigation slowly favouring policyholders but key questions remain
Policyholders continue to make progress in their fight to recover Covid-19 business interruption losses from insurers, although the settlement of…
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Skuld cancels Red Sea war protection for fixed premium customers
Norwegian P&I insurer Skuld is cancelling war cover for non-mutual policyholders operating in the Red Sea after its own reinsurers…
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Marsh expands London market digital trading platform
Marsh is rolling out the next phase of its digital trading platform for risks placed in the London market to…
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WTW launches cyber cover for international buyers
WTW has announced new primary cyber and tech E&O cover, underwritten by Lloyd’s syndicates, for businesses headquartered outside Great Britain…
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Sampo profit down 23% in 2023 despite fourth-quarter surge
Nordic insurer Sampo reported a 23% drop in pre-tax profit for full year 2023 to €1.48bn on a reported basis,…
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P&I Clubs to increase rates by 5% to 7.5%
All 12 mutual members of the International Group of P&I Clubs will increase premium rates at the 20 February renewal,…
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Supply chain solutions creating more risks
In a world that becomes more dangerous by the day, risk managers are setting aside extra time to find alternatives…
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HDI Global expects moderate ‘single-digit’ rate increase in 2024
The insurance market will continue to harden this year but the pace will moderate, Claire McDonald, the CUO of property,…
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Insurers must adapt to energy transition or disappear, warns risk manager
The insurance industry runs the risk of disappearing if it does not adapt to climate change and the ESG agenda,…