CRE Newsletter
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Market
March 10, 2022
Hannover Re annual net income soars 39% with higher prices set to drive 2022 profit
Hannover Re’s net income surged 39% to €1.23bn last year and hit the higher end of expectations, driven by 76%…
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Aviation
March 10, 2022
Aviation market faces up to multibillion-dollar losses from Russian grounding
An estimated 589 western-built aircraft with a market value of $13bn (£9bn) are currently on the ground in Russian airports,…
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Geopolitical
March 10, 2022
Best downgrades Russia risk rating to lowest tier and warns of threat to insurers’ financial strength
AM Best has assigned its lowest country risk rating to Russia and warned of a “deeply challenging and unpredictable operating…
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Market
March 10, 2022
SCOR rebrands Lloyd’s syndicate as part of continued push into specialty market
French reinsurance group SCOR has announced “pleasing” 2021 results for its SCOR Channel syndicate at Lloyd’s and will rename the…
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Risk Management
March 10, 2022
Risk managers advised to constantly monitor risks to workers in Russia as conflict deepens
Emergency response companies have told Commercial Risk Europe that companies should constantly assess risks to their employees in Russia and…
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Captives
March 10, 2022
Captives can play key role in ESG initiatives
Captives can be used to help formulate an organisation’s environmental, social and governance (ESG) strategy and provide funding for ESG…
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Aviation
March 9, 2022
UK strengthens ban on Russian aircraft and prohibits claims payments
UK Foreign Secretary Liz Truss has announced a new suite of aviation sanctions against Russia that includes a ban on…
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Marine
March 9, 2022
London market extends Black Sea war-risk area to near Georgia and Romania borders
London market insurers have extended their high-risk advisory for ships to cover a larger area of the Black Sea and…
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Italy
March 9, 2022
Commercial Risk publisher Beacon expands further into Europe with Italian acquisition
The publisher of Commercial Risk, Beacon International, has bought leading Italian insurance media group Insurance Connect. The deal, for an…
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Terrorism
March 9, 2022
Investor appetite boosts Pool Re’s new ILS cat bond to £100m
UK terrorism backstop Pool Re has placed its second insurance-linked securities (ILS) cat bond, following the maturity of its first…
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Legal & Regulation
March 9, 2022
Clyde & Co boosts Madrid office with financial lines partner
Clyde & Co has appointed financial lines expert Susana Martínez as partner in Madrid, in a move that the law…
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Energy
March 9, 2022
Shell moves to avoid reputational risk after buying Russian oil
Energy giant Shell intends to withdraw its involvement in all Russian hydrocarbons – including crude oil, petroleum products, gas and…
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GRM Insurance
March 9, 2022
Sompo International restructures insurance business for expansion
Sompo International has reorganised its insurance business with a new structure and new regional leaders. It said the strategic reorganisation…
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M&A
March 9, 2022
Brown & Brown to acquire Global Risk Partners
US broker Brown & Brown is to acquire UK firm Global Risk Partners (GRP), with the transaction expected to close…
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Geopolitical
March 9, 2022
Political risk insurance market pulls back from eastern European exposures
Russia’s invasion of Ukraine has roiled political risk insurance markets, with insurers reviewing capacity they offer and policyholders checking their…
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Market
March 8, 2022
Specialist Risk Group joins World Broker Network
UK broker Specialist Risk Group (SRG) has joined Worldwide Broker Network (WBN), the largest global network of independent brokers. SRG…
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Cyber & Technology
March 8, 2022
Buyers urged to review war exclusions as cyber risks rise
Risk managers should pay extra attention to exclusions in their insurance contracts amid a growing threat of nation-state cyberattacks and…
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Geopolitical
March 7, 2022
Report recommends ways to boost political risk management
There is much room for companies to improve the way they detect and manage rising political risk within their enterprise…
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Cyber & Technology
March 7, 2022
Fitch warns of increased corporate cyber risk from Ukraine conflict
Businesses with links to Russia or Ukraine, as well as firms in countries that have imposed sanctions on the former,…
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Energy
March 4, 2022
Insurers urged to stop underwriting Russian energy risks
A coalition of NGOs has called on financial institutions, including a host of insurers, to cut ties with Russian oil,…