News – Page 9
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Talanx completes Liberty Seguros Brazil acquisition
German insurer HDI moves up to number two in the property and casualty insurance market following the transaction, the company said.
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Lloyd’s launches consultation on insuring lower-carbon economy transition
The Lloyd’s market has released a consultation on its roadmap for insuring the transition to a green economy.
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Expanding DIFC promoted as MGA hub for Middle East, Africa and South Asia access
MGAs represent 43% of DIFC’s insurance constituents, as of September, contributing $2.1bn of gross written premium.
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Tysers pays fine to resolve Ecuadorian bribery case
A corruption case brought by the US Justice Department has been resolved with fines and a three-year deferred prosecution agreement for both reinsurance broking firms involved.
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The most climate vulnerable countries could lose 100%+ of GDP from insurable cats – Cambridge, Howden study
Risk-sharing action plan to scale up loss and damage funding for Global South countries to inform COP28 discussions in Dubai.
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London, Paris, New York lead global cities resilience index – Tokio Marine
The least resilient cities, according to the study, carried out in partnership with Economist Impact, were New Delhi, Jakarta, Cairo, Dhaka, and, lastly, Lagos.
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Marsh McLennan announces ‘Unity’ Black Sea grain insurance deal with Ukraine
The re/insurance broker has announced the launch of a new insurance facility to support grain exports from Ukraine’s Black Sea ports.
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Snyder appointed Argo CEO after $1.1bn Brookfield acquisition
Brookfield Reinsurance has completed its $1.1bn takeover of Argo Group, with the Bermudan re/insurer to be led by Jessica Snyder.
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Chedid Re named reinsurance broker of the year by MEIR
Chedid Re was recognised as “Reinsurance Broker of the Year” at the Middle East Insurance Industry Awards 2023 held on November 16.
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Howden names Bayon de La Tour as its new international cyber leader
The broker’s new international head of cyber will be based in Spain and was formerly head of cyber for Marsh Europe.
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Disaster financing report shows just 2.7% of $71bn in crisis financing was pre-arranged
Addressing the protection gap, only $1.9bn of $71bn in international crisis financing that was used for pre-arranged finance in 2021, according to a study by the Centre for Disaster Protection.
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Canopius Asia CEO Newman takes up UK role
Mark Newman takes over as UK CEO of Canopius, departing his current role leading the London-based re/insurance carrier across Asia Pacific.
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Mexico's Hurricane Otis to cost insurers up to $4.5bn – Moody’s RMS
Cat modeller’s estimate reflects wind damage in Mexico, including post-event loss amplification, inflationary trends, and non-modelled sources of loss.
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Collateralised Re yet to rebound, cat bonds lead ILS growth – Moody’s
Rises in traditional reinsurance pricing have caused demand for alternative structures, especially cat bonds, according to a report from the rating agency.
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Four new satellites take ICEYE up to 31 deployed in space
SpaceX’s latest launch adds more radar imaging satellites to the picture for the synthetic aperture radar specialist, which serves governments, such as the US and Ukraine, as well as re/insurance markets.
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Munich Re ups 2023 outlook with P&C-driven Q3 profit
The world’s biggest reinsurer reported a net profit of €1.2bn for the third quarter of 2023, with major-loss expenditure in P&C reinsurance slightly below average.
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French reinsurer SCOR reported group profit of €147m in Q3
SCOR generated €147m net income in Q3 2023, contributing to a “strong nine-month performance” with a net income of €650m.
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Lloyd’s chairman apologises for insurance market’s historical slave trade role, announces Inclusive Futures programme
New initiatives announced at Lloyd’s “to create a more equitable market and society” follow independent research exploring Lloyd’s historical links to the transatlantic slave trade.
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WTW launches Asia Pacific Climate Risk Centre in Singapore
The insurance broker said it would provide climate risk quantification and management capabilities to support the region’s resilience and transition to net-zero.
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Aon combines EMEA and UK CEO roles under Page
Eduardo Dávila, Aon’s CEO for Europe, Middle East and Africa (EMEA), will depart the firm at the end of 2023, the broking firm announced.