All News articles – Page 164
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NewsMarkel consolidates all property CAT reinsurance business under Nephila
Markel Corporation (NYSE: MKL) announced today that it is creating one center of expertise for the global property catastrophe (CAT) reinsurance market by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel’s single point of entry for serving the property CAT reinsurance market.
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NewsLondon company market premium grows by 10%
Premium income for the London company market grew by 10% last year with £21.436bn of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting Association’s also shows a further £6.197bn was written in other offices outside of London but overseen and ...
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NewsBest’s Commentary: Hurricane Delta Likely to Exacerbate Mexico Insurers’ COVID-19-Disrupted Claims Handling
AM Best expects insurance companies operating in Mexico to withstand the impact of Hurricane Delta because of their strong reinsurance programs, although claims management could be a challenge given restrictions on mobility already hampered by the COVID-19 pandemic. In a new Best’s Commentary, “Hurricane Delta Makes First Landfall in Yucatan ...
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NewsHedge funds make pandemic bet on insurance
Five years after London-based hedge fund Toscafund ditched the shares it held in insurance companies, the $3.5 billion firm and its peers are flocking back, drawn by sharp premium increases which are lifting the sector’s post-coronavirus prospects.
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ViewpointsFuture of insurance: Rise of parametric covers
Special edition: Future of business. In The Future of Business series, sister title StrategicRISK, in association with Swiss Re Corporate Solutions, look at the scale of change in the industries that are driving real innovation and shaping the future of business, and consider the impact from a risk and insurance ...
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AnalysisBriefing: Why aggressive FCA will next turn to commercial insurance
The FCA is intently focused on value. It’s agenda will lead to a fresh look at commercial insurance
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People & OpinionSCOR Reinsurance Asia-Pacific appoints Hitesh Shah as an independent non-executive director
Hitesh Shah was appointed an Independent Non-Executive Director of SCOR Reinsurance Asia-Pacific Pte Ltd (SRAP) on August 20, 2020. Hitesh joins the SRAP board alongside existing independent non-executive directors, Eric Raynaud and Andre Chieng and he will Chair the Audit and Risk Committee.
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News360Globalnet boss says no code technology is ‘next big thing’ for insurance
The insurtech’s chief executive, Paul Stanley tells Insurance Times why no code technology is going to be the ’next big thing’ in insurance and reveals how the technology’s flexibility allowed 360Globalnet to build its own Track and Trace System
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NewsABI signs Race at Work Charter as it launches new two-year inclusion strategy
Around 32 of the association’s insurer members have also committed to the Race at Work Charter
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NewsGE receives notice from U.S. regulator of possible civil action
General Electric said on Tuesday it has received a notice from U.S. Securities and Exchange Commission staff, warning that the company could face a civil action for possible violations of securities laws related to accounting practices for some of its insurance holdings.
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NewsAon announces launch of new solution to create greater access to capital based on the value of an organisation’s IP portfolio
Aon, today announced, the launch of its Intellectual Property (IP) Capital Market Solution along with the close of a significant IP-backed lending transaction worth over $100 million, believed to be the largest such transaction ever consummated. “Aon is committed to helping clients navigate an increasingly complex world. The launch ...
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NewsQBE on track to reach robotics milestone of 30,000 claims tasks processed a week
By the end of this year, QBE will have 45 ‘robots’ in place completing 30,000 tasks a week across its European division. This is twice the number of robotics-facilitated tasks completed on a weekly basis at the end of 2019 and an increase of 15 ‘robots’. The ‘robots’ are created ...
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NewsSCOR: How can (re)insurers lead the way on climate change action?
Michèle Lacroix, Head of SCOR’s Group Investment Office: How to include sustainability in investment decisions? Financial markets are leading the way in the sustainability journey. Stringent regulation over the last five years has meant that CSR and ESG are now common acronyms, with Environmental, Social and Governance being the ...
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People & OpinionCovéa appoints new Managing Director for Personal Lines & Protection
Covéa Insurance is pleased to announce the appointment of James Gearey to the position of Managing Director, Personal Lines & Protection. In his new role, James will be accountable for all the company’s consumer-focused products, including Motor, Home, Pet, Income Protection, Personal Accident and Life insurance. In addition, he ...
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NewsCovid-19 is changing claims trends and risk exposures, according to new Allianz Report
Traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. Impact of the pandemic will shape future loss trends for companies in the mid- and long-term with changes ...
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NewsInsurers expect few clashes between EU and UK over capital rules
Separate reviews in the European Union and Britain of capital requirements for insurers are likely to produce a similar set of rules for cross-border firms, insurers said on Tuesday. Since the capital rules were introduced by the EU in 2016, markets have evolved, with central banks pushing interest rates into ...
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NewsFCA pricing report paves way for ‘exciting and innovative time’ within insurance
Insurers need to start pinpointing their USPs in order to differentiate their services following the FCA’s steer from a heavy price focus to fair value says data insight firm
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NewsAllianz and Rugby Football Union announce landmark partnership
Allianz Insurance and the Rugby Football Union (RFU) have today announced a new agreement in which Allianz will become the Official Insurance Partner of England Rugby, and partner to the men’s and women’s England rugby teams. The landmark partnership will also see Allianz Insurance supporting the top women’s domestic rugby ...
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NewsZurich-Oxford report: New social contract needed to make workforce more resilient as COVID-19 accelerates change
The outbreak of COVID-19 has created a new urgency to address issues affecting working people worldwide, including the digitalisation of the economy, the need for continuous education, and the fragility of many national social protection systems. A new report by Zurich Insurance Group (Zurich) and the Smith School of Enterprise ...
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NewsCOVID-19 accelerating digitisation trend among Insurers, Says Chubb’s John Keogh
During the most recent fireside chat, hosted by Eric Andersen, President of Aon, Keogh said that the novel coronavirus (COVID-19) pandemic is giving the re/insurance industry a ‘huge shove’ forward in the trend towards digitisation, which would help improve interactions with clients. “I think the understanding of the customer experience ...
