Risk managers need to think long and hard about coal-supporting insurers

Risk managers need to think long and hard about coal-supporting insurers

Risk managers need to think long and hard about coal-supporting insurers

US and Asian insurers including AIG and MS&AD are coming under increased pressure to play their role in the fight against climate change by directing their investments away from climate-damaging sectors and backing away from underwriting industries such as coal. As the United Nations met in Madrid for its COP 25 Climate Change Conference and leading Spanish insurer Mapfre promised…

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets promises to be stable option for European buyers as market changes

Liberty Specialty Markets (LSM) will continue its push into Europe and be a stable partner for risk managers through changing market conditions, according to Kerry McKay, head of distribution in Europe at LSM. LSM has grown significantly in Europe during the past three years, and will continue to expand steadily in the region, despite the retrenchment of some insurers in…

Keep the market on its toes but value relationships

Keep the market on its toes but value relationships

Keep the market on its toes but value relationships

The option to change insurance providers is important to keep both insurers and brokers on their toes as tenders become more aggressive during a hardening market, Spanish risk managers said. But they also urged companies to value long-term relationships that can prove particularly useful when a difficult claim hits. Daniel San Millán, president of Spanish risk management association Igrea and…

Talking local, going global

Talking local, going global

Talking local, going global

The corporate world in Spain and Portugal, with many more mid-market players than large companies, has resulted in a very different landscape for risk managers. While natural catastrophes and cyber risks top the agenda, risk managers in Spain and Portugal are also concerned by political risk and its impact on their ability to do business, said Juan Aznar Gáldiz, country…

M&A insurance continues to grow and develop – Aon report

M&A insurance continues to grow and develop – Aon report

M&A insurance continues to grow and develop – Aon report

Significant growth in demand for M&A insurance products is being driven by the recent favourable economic environment, according to a new report from Aon. The report, Insurance for M&A: A coming of age and an exciting future ahead, states that M&A activity is being driven by interest rates remaining low, stronger company balance sheets, and significant rises in deal activity…

AGCS unbundles risk management services in new unit launch

AGCS unbundles risk management services in new unit launch

AGCS unbundles risk management services in new unit launch

Allianz Global Corporate & Specialty (AGCS) has launched a new unit that will offer corporate clients risk consulting, captive fronting and crisis management services separately to insurance covers. Launched at the Ferma Forum in Berlin today, AGCS Services will be piloted in central and eastern Europe and the Mediterranean region. AGCS said the launch marks a new approach in response…

Europe’s nonlife market grows 4% in 2018: AM Best

Europe’s nonlife market grows 4% in 2018: AM Best

Europe’s nonlife market grows 4% in 2018: AM Best

Europe’s non-life insurance market was boosted by 4.4% growth in gross written premiums (GWP) last year compared with growth of just 0.86% in 2017, but profits were down €3bn, according to AM Best’s market report ranking the top 30 insurers in Europe. All the top-ten players bar one recorded premium growth last year, with top-five players AXA, Chubb and Zurich…

Beazley extends e-trading platform to Spain

Beazley extends e-trading platform to Spain

Beazley extends e-trading platform to Spain

Beazley has extended its myBeazley broker e-trading platform, which already operates in the UK and France, to Spain. Spanish brokers will now be able to access specialist insurance products online, including management liability, professional liability and cyber. The latter includes Beazley Breach Response to help firms deal with data breaches or cyberattacks. Francisco Antonio Alcaide, specialty lines underwriter and lead…

Spanish buyers avoiding worst of hardening market, Igrea members told

Spanish buyers avoiding worst of hardening market, Igrea members told

Spanish buyers avoiding worst of hardening market, Igrea members told

The global insurance market is hardening and companies should be prepared for a difficult renewal season, Spanish risk managers were warned during the annual Igrea conference. But delegates at the event organised by one of Spain’s risk management associations were also told that Spain is not one of the markets most affected by tougher conditions, with pricing mostly stable. “It…

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