DACH
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German D&O ruling means insurers still liable after insolvency
A recent ruling by Germany’s Federal Supreme Court, the Bundesgerichtshof (BGH), which overturned a decision made back in 2018, means…
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AGCS slips to Q4 and full year loss on back of Covid claims and reserve strengthening
Allianz Global Corporate & Specialty (AGCS) posted an operating loss of €225m in Q4 and €482m for 2020, as its…
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Swiss Re Corporate Solutions’ turnaround ‘ahead of plan’ despite Covid pushing it into the red
Swiss Re Corporate Solutions reported “strong” and much-improved underlying performance last year, despite falling to a $350m loss as big…
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HDI expands liability team with sharper international focus
HDI Global is beefing up its core liability capability by expanding its senior management team and “resetting” the businesses strategy…
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Zurich’s P&C profits down 28% despite H2 rebound and ‘strong’ commercial rates
P&C operating profit fell 28% at Zurich Insurance last year and was down 20% for the group as Covid-19 and…
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Talanx income falls 27% after $1.5bn Covid-19 claims
German group Talanx has reported a 27% drop in net income to €673m for 2020, after coronavirus losses worth €1.5bn…
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Bayer raises class fund for future Roundup claims to $2bn
German pharmaceuticals firm Bayer has increased funds to settle future claims in the US that its weedkiller product Roundup causes…
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Thomas Miller Specialty moves claims handling for EU hub to UK
Thomas Miller Specialty (TMS) is moving claims handling for its new European hub in Hamburg to the insurer’s main claims…
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Strategic Risk Solutions launches Swiss operation
Strategic Risk Solutions (SRS) has launched an operation in Switzerland, based in Zurich. The insurance management and consulting services firm…
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GDPR fines up 39% in 2020
Regulatory fines for data breaches under the GDPR increased 39% in Europe during the past year to €158.5m, according to…
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Liberty launches new German terrorism cover
Liberty Specialty Markets (LSM) has launched new terrorism insurance cover for SME German corporate buyers. LSM entered the German war…
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European firms name cyber as top risk for 2021 in AGCS poll
Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption…
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Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades
The world will be more unstable, less cooperative and more prone to crises this year, with the risk of interstate…
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Clyde & Co opens Munich office with Norton Rose hires
Law firm Clyde & Co is expanding further in Europe by opening a new office in Munich next month, which…
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Allianz sets 25% greenhouse gas reduction target for investments
Allianz has set interim targets to reduce greenhouse gas emissions in its investment portfolio, to help achieve its ultimate goal…
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New Lloyd’s broker created in Germany to allow clients access to EU and UK markets
A new joint venture between Seventeen Group, which owns London-based brokerage James Hallam and MGA Touchstone Underwriting, and German broker…
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PE firm takes ‘significant’ stake in German industrial lines broker
AnaCap Financial Partners, a London-based financial services specialist mid-market private equity investor, has announced a “significant” growth investment into MRH…
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D&O liability risk spikes as Covid-19 insolvencies gather pace
Corporate insolvencies caused by the pandemic will drive a growth in claims against directors and officers (D&Os) in 2021, according…
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Reinsurance market firms at 1 Jan but buyers fare better than first feared, says Willis
The reinsurance market firmed at 1 Jan renewals but price increases and other changes were less onerous than buyers initially…
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Gothaer reveals industrial insurance expansion plans as market results improve
Gothaer, the Cologne-based mutual insurance group, plans to expand in the industrial insurance market during the next five years as…