All News articles – Page 88
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NewsRisks as Taliban retakes Afghanistan
The “largest foreign policy failure since the Suez Canal crisis” will cause deterioration in security - Dragonfly
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NewsInsurer AIA posts jump in first-half new business value, raises dividend
The Asia-focused insurer’s value of new business (VONB), which measures expected profit from new premiums and is a gauge for future growth, rose by 22% to $1.81 billion in the January-to-June period.
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NewsSaudi Re posts 89% growth in H1-21 profits
Earnings per share increased to SAR 0.33 in the first half (H1) of 2021 from SAR 0.14 in H1-20, according to a bourse disclosure on Monday.
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NewsNigerian startup, Chekkit suspends operations in Afghanistan following unrest
With its blockchain technology, Chekkit has an existing partnership with blockchain partner, Fantom Foundation who made was working with the Ministry of Health in Afghanistan to help the country with its pharma product counterfeiting problem.
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NewsHaiti earthquake caused $250mn of insured losses, says KCC
However, with insurable, or economic, losses estimated at around $1.7 billion, only around 14.7% of the overall cost of the quake will be covered by insurance, KCC says, highlighting the extent of the protection gap in the country.
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People & OpinionGuy Carpenter appoints new President in Asia Pacific
Guy Carpenter announced today the appointment of Michael Harden as President of Asia Pacific, with immediate effect.
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NewsAM Best downgrades credit ratings of Arab Reinsurance Company SAL
In AM Best’s view, economic, political and financial system risk in Lebanon, which was already elevated, has continued to rise following the devastating explosion in the port of Beirut on Aug. 4, 2020, and the subsequent resignation of the government.
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NewsWillis Towers Watson selects Carl Hess as President and Future CEO
Hess began his career at the company in 1989 and has held diverse leadership positions spanning business segment and geography roles.
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NewsGhost broking continues to be a ‘substantial problem’ for the industry
Financial hardship and a large influx of new drivers getting set to pass their tests will provide “fertile ground” for ghost broker scammers, the Insurance Fraud Bureau (IFB) expects.
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NewsZurich believes it has been ‘been at the forefront’ of tackling BI claims backlog
Insurer Zurich believes it has been “at the forefront” of dealing with the backlog of Covid-linked business interruption (BI) claims following the Supreme Court’s January ruling, working “very proactively with customers and brokers”, according to Tim Bailey, UK chief executive of Zurich Insurance.
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NewsAxa to sell Singapore business to HSBC
Axa has agreed to sell Axa Insurance Pte – also known as Axa Singapore – to HSBC Insurance (Asia-Pacific) Holdings, a wholly owned subsidiary of the Hongkong and Shanghai Banking Corporation.
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NewsCevian Capital revolts after Aviva’s move to return £4bn back to shareholders
Swedish active investment firm and Aviva investor Cevian Capital has revolted after the insurer announced in its 2021 half year results on 12 August 2021 that it will be returning £4bn to its shareholders by H1 2022.
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NewsGallagher announces agreement to acquire WTW Treaty Reinsurance Brokerage Operations
“Broadening our reinsurance brokerage offerings has been a strategic objective at Gallagher and this acquisition will significantly enhance our global value proposition,” said J. Patrick Gallagher
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NewsSevere weather events drive global insured catastrophe losses of USD 42 billion in first half of 2021
A deep winter freeze, hailstorms and wildfires contributed to natural catastrophe losses of USD 40 billion in the first half of 2021, according to Swiss Re Institute’s preliminary sigma estimates.
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NewsMarshmallow finalising cash injection to become latest insurtech unicorn
Marshmallow Financial Services is finalising a funding a round that will see the digital motor insurer become worth $1.2bn (£898m) and the latest unicorn.
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People & OpinionMS Amlin Underwriting reveals new independent non-executive director
MS Amlin Underwriting Limited (MS Amlin Underwriting) has appointed Julie Hopes to its board as an independent non-executive director.
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NewsAviva share price surges as boss Amanda Blanc delights investors
Aviva intends to return at least £4bn to its shareholders by June 2022, the insurer’s chief executive revealed in its H1 financial results released this morning (12 August).
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NewsZurich bounces back from pandemic with best underwriting result in years
Zurich UK posted its strongest underwriting profit in five years, with a combined ratio of 80.8% for the first half of this year.
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NewsFCA to allow rolling applications for regulatory sandbox
The FCA will now be allowing rolling applications for its regulatory sandbox.
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NewsFlood exposures up by 24% since 2000
Population at risk of extreme flood is ten times higher than previously thought, finds WRN partner Cloud to Street
