France
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Scor upends succession plan as Kessler steps down a year early
Scor has made big changes to its succession plan and promoted Laurent Rousseau as CEO instead of industry outsider Benoît…
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AXA Asia unit hit by ransomware attack
AXA’s Asia Assistance was hit by a ransomware attack at the weekend, with an investigation now underway into whether data…
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Gallagher advances European strategy by five years with WTW deal, says CEO
Arthur J Gallagher is used to buying and integrating rival brokers, having completed more than 500 transactions in the past…
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Outlawing ransomware payments will hurt small companies, say experts
Cyber experts have criticised the calls to make ransomware payments illegal, stating that such a move could leave small companies…
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Colonial Pipeline ‘paid $5m ransom’, say unconfirmed reports
Colonial Pipeline, which said on Wednesday evening that is has fully restored operations in the US following a cyberattack last…
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Captive growth in France set to take off if government backs new rules
As they feel the bite of the hard insurance market, French companies have moved decisively towards setting up captives to…
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Colonial Pipeline attack to hit cyber capacity says AM Best
The scale and severity of ransomware attacks against businesses could force more insurers to exit underwriting cyber risk, said AM…
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AXA France suspends ransomware reimbursement cover in new cyber policies
AXA France has ceased providing ransomware reimbursement cover when underwriting new cyber policies. AXA France, AXA’s general insurance business in…
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Compliance burden pushing captives to consider outsourcing but concerns remain
The burden of disproportionate regulation is making it harder to run a captive without the help of an external captive…
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Covid-19 pushes Europe to triple disaster-response budget
The EU has put in place new funding to strengthen the bloc’s response to natural and manmade disasters, including pandemics,…
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Never been a better time to consider captives say risk managers
The hardening insurance market and a reduction in coverage as a result of Covid 19 are leading more companies to…
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European countries carry higher earthquake risk in FM Global’s updated map
Several European countries now carry a higher risk of earthquake, according to the latest interactive global threat map from commercial…
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Scor hit by ‘unique combination’ of Covid and storm losses in Q1
Covid-19-related life reinsurance claims and natural catastrophes have dented Scor’s first-quarter 2021 results. The French reinsurer reported a 72.2% drop…
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AMRAE worried Aon-WTW deal fallout will impact difficult renewal season
French risk management association AMRAE is worried about the impact the Aon-Willis Towers Watson (WTW) merger and any selloffs to…
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German business bears the brunt of cyber offensive
The fifth edition of the Hiscox Cyber Readiness Report finds that German businesses accounted for more than a third of…
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French non-life market maintains stable outlook from AM Best
AM Best has maintained its stable outlook on the French non-life insurance market despite commercial insurers running into problems last…
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Global economy to shrink 18% by 2050 if no action on climate change, says Swiss Re
The world’s economy risks losing 18% of GDP during the next 30 years if there is no action on climate…
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Brexit has already pushed over 440 financial services firms to Europe
More than 440 UK banking and finance firms have relocated part of their business, moved staff or set up new…
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Howden and Gallagher lead the hunt for WTW’s European business
Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon…
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Insolvencies to ‘surge’ by 26% in 2021: Atradius
Insolvencies are set to jump 26% globally this year with several European countries likely to be worst hit as the…