CRE Newsletter
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People Moves
October 21, 2021
FM Global appoints new head of EMEA
FM Global has named the head of its EMEA division Philip Johnson as the company’s first chief learning officer and…
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Climate Change
October 21, 2021
Campaigners urge AXA to stop covering oil and gas
Climate campaigners are calling for AXA to immediately stop insuring new oil and gas projects, and criticised the insurer for…
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Market
October 21, 2021
Lancashire faces $225m of large losses in Q3
Lancashire Holdings expects large losses to reach up to $225m in the third quarter on the back of nat cats…
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Risk Management
October 21, 2021
Risk professionals urged to grasp opportunity to help mitigate people risk post-pandemic
The pandemic has put people risk at the top of the corporate agenda and given risk managers a further opportunity…
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Climate Change
October 21, 2021
Axis charts exit from thermal coal business
Axis Capital will stop insuring, reinsuring and investing in thermal coal business by 2030 in some countries, including Europe and…
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Legal & Regulation
October 20, 2021
Credit Suisse settles Mozambique bond probe for $475m
Swiss banking group Credit Suisse is to pay $475m to settle charges brought by both UK and US authorities over…
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Executive & D&O
October 20, 2021
BHSI unveils new global network across 170 countries
Berkshire Hathaway Specialty Insurance (BHSI) has expanded its global network to encompass owned offices and network partners, allowing the insurer…
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Cyber & Technology
October 20, 2021
Sixty-nine percent of firms expect ransomware attack and 80% would consider paying ransom
A big majority (69%) of top IT executives think their business will be hit by a successful ransomware attack at…
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North America
October 20, 2021
Castel launches into US professional liability market
Castel Underwriting Agencies has launched a new cell to write North American professional liability cover. It will write both primary…
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Market
October 20, 2021
Munich Re set for €400m Q3 profit despite €1.8bn nat cat bill
Munich Re expects to deliver profit of about €400m in the third quarter, despite nat cat costs of roughly €1.8bn…
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CRE Insurance
October 20, 2021
Silent cyber risks continue to trouble insurers
Silent cyber exposures, where cyber coverage is neither explicitly provided nor excluded in insurance policies, remains an issue for the…
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Market
October 20, 2021
Travelers foresees continued strong commercial pricing as Q3 profits fall
Travelers’ top executive has said the firm expects commercial insurance pricing to remain strong, driven by inflation, catastrophes and a…
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Legal & Regulation
October 19, 2021
Eiopa welcomes new sustainability mandates under Solvency II reform package
The European Insurance and Occupational Pensions Authority (Eiopa) said it welcomes new mandates to supervise insurers’ sustainability risk as part…
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Cyber & Technology
October 19, 2021
Annual US ransomware payments set to outrun previous decade combined
US financial institutions reported suspicious ransomware transactions worth $590m in the first six months of 2021, which already outstrips the…
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Aviation
October 19, 2021
Sompo sets sights on international general aviation expansion
Sompo International is increasing its appetite for general aviation risks and has appointed Peter Buckley as vice-president of aerospace to…
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Association News
October 19, 2021
Rims received $7.6m Covid-19 event cancellation insurance payout
US risk management association Rims received a $7.6m event cancellation insurance payout after the Covid-19 pandemic forced its conferences to…
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Cyber & Technology
October 19, 2021
Cyber firm Lodestone Security expands into Europe
Lodestone Security, which offers cyber defence incident response services to SMEs, is expanding into Europe with a new London office.…
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CRE Insurance
October 19, 2021
Cost of cover to rise in Germany: E+S Re
The cost of corporate insurance in Germany is set to soar, the German reinsurer E+S Re has warned. In a…
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Legal & Regulation
October 18, 2021
Eiopa’s reporting changes will increase costs for buyers, Insurance Europe warns
Proposed changes to Europe’s insurance reporting requirements are “disproportionate” and will increase costs for insurers and their customers, according to…
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Market
October 18, 2021
Munich Re expects to see ‘considerably’ higher rates at year-end
Munich Re still sees “prolonged” hardening for the European (re)insurance market at year-end renewals and beyond as losses, higher inflation…