UK/Ireland
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ABI calls for UK cyber database to develop risk transfer solutions
The Association of British Insurers (ABI) this week called for a national, anonymised database of cyber incidents at UK companies…
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Corporate round-up
WBN elects Meijers Assurantiën's Daniel de Swaan as chairman, AIG launches crowdfunding solution to protect investors, XL Catlin promotes Michael…
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Enterprise Act and damages for late payment receive Royal Assent
Insureds will be entitled to damages for late payment of claims under UK law as the Enterprise Act has received…
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Airmic debates BEPS implications for captives
Following a meeting of its captive special interest group last week, the UK risk management association Airmic looks increasingly likely…
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London insurers must intensify risk management as soft market continues: Bank of England
The Bank of England warned the London and wider UK general insurance market this week that it needs to be…
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Airmic launches Leadership Advisory Board
Airmic has launched its new Leadership Advisory Board, which will help guide the association going forward.
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Lloyd’s profits drop one third in ‘challenging’ market
Lloyd's yesterday announced a pre-tax profit of £2.1bn for 2015, significantly reduced from the 2014 result of £3bn.
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Risk managers begin to feel burden of the Insurance Act
The application of new insurance contract law under the UK Insurance Act is proving to be a complex and burdensome…
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European insureds underprepared for UK insurance law changes: Ferma
Risk managers at European companies need to urgently familiarise themselves with forthcoming changes to UK insurance contract law, according to…
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Marsh warns of uncertainty over Insurance Act remedies
Marsh is urging risk managers to prepare for the introduction of proportionate remedies for non-disclosure under the UK Insurance Act…
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Modest 0.5% UK IPT rise but fears over future hikes
The UK has announced a modest 0.5% rise in Insurance Premium Tax (IPT), which will likely come as a relief…
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Bertagna casts doubts on broker facilities
Allied World's Enrico Bertagna has spoken out on broker facilities, questioning whether they are good for clients and warning that…
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Concerns grow over captive tax compliance
UK risk management association Airmic is growing increasingly concerned by its tax authority's approach to captive insurers and is considering…
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Corporate round-up
AGCS appoints Elke Vagenende as head of market management UK and Charles Taylor names O'Neil head of Middle East.
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Corporate round-up
Generali hires new French head from Allianz, Willis Towers Watson names CEEMEA region leader, AGCS appoints Andrews Whitehouse head of…
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XL heads home to Bermuda
XL Group announced this week that it plans to shift its place of incorporation from Ireland to Bermuda.
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Brexit would be bad news for Lloyd’s and wider London market: Nelson
If the UK leaves the EU following its Brexit referendum on 23 June, the Lloyd's and wider London market would…
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JLT reveals solid results despite problems in UK employee benefit business
Jardine Lloyd Thompson Group (JLT) this week announced reported profit before tax of £155m, down 3% on last year, on…
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Airmic and ABI warn against IPT rises
Ahead of the UK government's budget announcement later this month, the country's risk management association Airmic and insurer trade body,…
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UK sets out cat bond and ILS plans
The UK government has launched a consultation into new laws aimed at promoting a market for insurance-linked securities (ILS) in…