Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

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 will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Insolvencies to ‘surge’ by 26% in 2021: Atradius

Insolvencies to ‘surge’ by 26% in 2021: Atradius

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 fallout from Covid-19 finally impacts bankruptcies, according to Atradius. This would follow a 14% fall in insolvencies last year when governments introduced fiscal measures and bankruptcies regime changes to protect businesses from failure, said the trade credit insurer. Atradius added…

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon has offered to sell Willis Towers Watson’s (WTW) entire large multinational P&C portfolio in Germany, France, Spain and the Netherlands, as well as Willis Re and the broker’s French unit Gras Savoye to gain approval from EC competition regulators, according to Reuters sources.

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali will continue its planned growth path under CEO Philippe Donnet’s Generali 2021 plan and has a further €2.3bn to spend on acquisitions, having already spent €1.8bn in recent times, analysts were told during the Italian insurance group’s recent annual results call. Mr Donnet’s further commitment to growth came on the back of a decent set of annual figures, to which…

Concerns mount over claims in hard market

Concerns mount over claims in hard market

Concerns mount over claims in hard market

Claims are becoming more difficult in the hard market, with mounting concern that problems caused by buyers using multiple insurers to try and build scare capacity in some lines will only worsen, according to risk managers and brokers. Members of UK risk and insurance management association Airmic report rising claims disputes as the ‘harsh’ market intensifies. Almost half of insurance…

The time has come to embrace ART, says Igrea president

The time has come to embrace ART, says Igrea president

The time has come to embrace ART, says Igrea president

The time has come for companies to look at alternative risk transfer (ART) strategies to mitigate the effects of the hard market and boost protection against uninsurable risks, Daniel San Millán, president of Spanish risk management association Igrea, told members at a virtual conference. The use of ART will help insurance managers deal with the increasingly hostile insurance market. But…

Spanish buyers fear hard market is affecting claims

Spanish buyers fear hard market is affecting claims

Spanish buyers fear hard market is affecting claims

Spanish risk managers are concerned that the effects of the hard market are moving beyond difficult renewals to claims, where some report things are getting more tricky for buyers. “This is a perception that is growing among some members of Igrea,” said Lourdes Freiria, general director of risk and insurance at Grupo San José, during a virtual conference organised by…

GDPR fines up 39% in 2020

GDPR fines up 39% in 2020

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 new research from law firm DLA Piper. The company said regulators “tested their powers” under the GDPR in 2020 after a slow start during the regulation’s first 20 months when fines totalled €114m. Total fines levied since the GDPR was…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

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 (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

Geopolitical risk outlook deteriorates in 2021 with threat of conflict highest for decades

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 conflicts higher than it has been for decades, warns Risk Advisory’s Strategic Outlook 2021. The risks consultancy’s report says that the global security and geopolitical outlook is broadly worsening this year in North America, west and central Africa, south Asia…

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