Property
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Australia’s Insurance Council declares catastrophe in wake of Cyclone Debbie
A category four cyclone that hit the northeastern coast of Australia on Tuesday 28 March has led to mass evacuations…
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Insured global disaster losses rise 42% in 2016
Insured losses from global disasters increased by 42% in 2016 to $54bn from $38bn, according to Swiss Re Institute’s sigma…
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Data analytics promises tighter risk management: Insurance Europe
Wider use of big data analytics offers clear benefits to risk management and ultimately insurance buyers, according to Insurance Europe.…
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US thunderstorm losses on par with hurricane claims: Willis Re
Thunderstorms property losses in the US are equal to those caused by hurricanes, according to a new report from Willis…
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XL Catlin appoints McMahon to head global property underwriting
XL Catlin has appointed Tim McMahon as global chief underwriting officer for property. Mr McMahon is currently head of energy,…
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Insurers face $1bn-plus bill for February cat losses
Five severe US weather events during February are set to land insurers with a bill of more than $1bn for…
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Barbican Protect hires Martin Eyres as underwriting director
Barbican Protect, the UK insurance arm of Barbican Insurance Group, has appointed Martin Eyres as underwriting director. Based in London,…
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Chubb strengthens UK & Ireland team
Chubb has created two new senior management roles for its UK and Ireland operations. Sara Mitchell is named head of…
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Hurricane risk mounts in northeast US and Canada: JLT Re
Northeast US and parts of Canada face growing hurricane risk, according to JLT Re. Speaking at the Reinsurance Association of…
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APAC insurance pricing remains competitive: Marsh
Insurance rates in Asia-Pacific remained “generally competitive” across most major coverage lines during 2016, according to the Global Insurance Market…
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Malaysian insurance market faces ‘challenging’ 2017, says association
Growth posted by the Malaysian insurance industry plummeted in 2016 compared with 2015 based on latest numbers published by the…
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Storm Egon losses to top €200m
Storm Egon, which hit parts of France and Germany last month, is estimated to cost insurers €212m, according to data…
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Zurich restructures its APAC business
International insurer Zurich has announced a major overhaul of its Asia-Pacific business, merging its corporate and commercial units into a…
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Vietnam hosts APEC forum on disaster insurance
Experts from the Asia-Pacific Economic Cooperation (APEC) forum and a number of international financial institutions met in Vietnam this week,…
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AIG warns of mounting casualty loss trends as it reshapes book
AIG is dramatically reshaping its business mix after warning about market-wide issues with US casualty loss development and pricing. After…
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AXA opens seismic risk research office in Italy
AXA Corporate Solutions’ risk management unit, AXA Matrix Risk Consultants, has opened a new natural catastrophe research and development office…
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IAG plans insurtech hub in Singapore
Insurance Australia Group (IAG) is the latest insurer to launch an insurtech centre in Singapore, in a bid to spread…
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Marsh suggests market may be about to turn as rate decreases reduce
Global commercial insurance rates fell again in the last quarter of 2016 but, with reductions decreasing, Marsh believes the market…
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ADB calls for public/private disaster insurance scheme
The Asian Development Bank (ADB), a cooperative of financial institutions dedicated to reducing poverty in the region, has called for…
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Asia-Pacific to spearhead growth of IoT insurance market
A report has placed Asia-Pacific at the forefront of the multi-billion-dollar Internet of Things (IoT) insurance market. According to market…