CRE Newsletter
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Risk Management
July 7, 2023
CIIA urges boards to elevate internal audit as economic risks increase
More than half of UK internal audit executives (56%) rate the risk of economic uncertainty to their business as high…
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Benelux
July 7, 2023
Storm Poly losses up to €100m say Dutch insurers
Storm Poly will cost Dutch insurers between €50m and €100m from damage to commercial property, homes and cars, according to…
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Italy
July 7, 2023
Italian flood losses total €377m, says PERILS
Cat data firm PERILS said May flooding in Italy’s Emilia-Romagna region will cost Italian property insurers €377m. The total economic…
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Insurance
July 7, 2023
Carriers continue to support MGA model, says Clyde & Co
There is increasing confidence in the global MGA market, with 90% of MGAs and 80% of carriers expecting to increase…
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DACH
July 7, 2023
German insurers call for building reforms as storm losses bite
The German insurance sector faces another hefty nat cat bill as recent summer storms have left the industry with a…
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CRE Insurance
July 6, 2023
Chaucer adds £100m to DUAL Asset capacity
DUAL Asset, the legal indemnity insurer that is part of London-based MGA DUAL Group, has announced a new long-term collaboration…
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Cyber & Technology
July 6, 2023
French brokers told to work closely with risk managers on cyber renewals
Cyber analytics firm CyberCube has advised French brokers to work proactively with insureds to address any ransomware-related vulnerabilities before renewal…
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Marine
July 6, 2023
Pen acquires Norwegian marine MGA Fender
Pen Underwriting has acquired fellow MGA Fender Marine in Norway for an undisclosed fee. Pen said the move is part…
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M&A
July 6, 2023
Howden buys UK entertainment broker MIB
Howden has bought UK and Irish television broker Media Insurance Brokers (MIB) International as part of plans to become the…
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Legal & Regulation
July 5, 2023
Europe strengthens GDPR rules after complaints over Irish regulator
Europe has adopted rules to reduce conflict between member states’ data protection authorities (DPA) involved in cross-border GDPR investigations. The…
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GRM People Moves
July 5, 2023
EY appoints EMEIA insurance leader
Phil Vermeulen has been appointed as EMEIA insurance leader at EY. He takes over from Peter Manchester, who has led…
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Property
July 5, 2023
UK property rates flattening, says Aspen’s Gatland
Prices are flattening in the UK property insurance market, according to Aspen’s Paul Gatland, who expects rates to hold for…
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People Moves
July 5, 2023
BIBA names Trudgill as CEO
The British Insurance Brokers’ Association (BIBA) has appointed Graeme Trudgill, current executive director, as its next CEO. He will take…
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M&A
July 5, 2023
New owners boost CCR Re capital by €200m
French reinsurer CCR Re has received a capital injection of €200m on completing a sale to French mutuals SMABTP and…
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People Moves
July 5, 2023
Brokerslink announces new advisory board
Brokerslink has announced a new two-tier board structure with an additional advisory board. The advisory board will sit alongside the…
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CRE Insurance
July 5, 2023
Business travel returns with added risk
Companies must do more to prepare their staff for business travel and ensure there is a greater focus on the…
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ESG
July 4, 2023
UK insurers offer guidance to business to become “nature positive”
The Association of British Insurers (ABI) says British businesses need help as they face up to the risks posed by…
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CRE Insurance
July 4, 2023
Turkey’s earthquake tops H1 2023 insured loss index at $5bn
An earthquake that struck Turkey and Syria in February is the largest international cat loss so far in 2023, according…
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CRE Insurance
July 4, 2023
French riots spark fresh concerns of systemic risk
Insurers and reinsurers are being forced to look again at the potential for civil unrest to become catastrophic and systemic…
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CRE Legal Regulation
July 4, 2023
UK backs away from mandatory deforestation due diligence
The UK government has rejected a key amendment to the Financial Services and Markets Bill that would force financial institutions…