All News articles – Page 79
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NewsGallagher reports £2.1bn revenue rise for broker segment
Gallagher has reported a £2.1bn ($3bn) rise in revenue for its broker segment during the first half of 2020 in its Q2 results (29 July).
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NewsMcLarens taps Broadspire in TPA expansion
Reporting into global head of TPA, Kirsten Early, the six-strong team will support the development of McLarens’ TPA capabilities
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NewsAborted Aon WTW deal a “victory for competition”
Insurance buyers stand to benefit from greater choice as regulators lose appetite for monopolistic tie-ups - Brokerslink
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NewsWildfire costs grow for solar sector
Insufficient fire risk management and record high temperatures will increase the likelihood of fires spreading out of control
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NewsParametric quake cover launches for Japan corporates
Seismographs are installed directly at a client’s premises to provide a faster claims pay-out process
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NewsCatastrophic floods hit Zhengzhou
The record rainfall has caused widespread disruption across Henan, home to the world’s biggest production base for iPhones
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NewsReuters: Western German floods could prove pricey for insurers
German insurance industry association GDV plans to give its first estimate of the damage next week.
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NewsInsurers must meet buyers’ changing needs
Only 54% of insurance buyers say their cover is addressing their business challenges very well, finds Beazley
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News$19 billion exposed at South Africa ports
Political unrest in the aftermath of Jacob Zuma’s sentencing has spread to Durban and Richard Bays Terminal - Russell Group
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NewsAllianz Holdings restructures to form distinct commercial and personal lines divisions
Allianz Holdings has today (14 July 2021) confirmed it has restructured its operations to create distinct commercial and personal lines businesses, to be led by newly appointed chief executives Simon McGinn and Steve Treloar respectively.
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NewsInsurers have paid more than £875m in interim and final BI payments this year
Since the Supreme Court’s decision in January for the FCA’s test case around Covid-19-related business interruption (BI) claims, a total of £875,489,994 has been paid out by insurers for either interim or final BI claims payments across 23,933 claims, according to updated data published by the FCA yesterday (13 July ...
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NewsLiberty Mutual Insurance to acquire State Auto Group
The acquisition will significantly expand Liberty Mutual’s position as an industry leader for personal lines and small commercial insurance.
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NewsIs the ‘harsh market’ starting to ease?
At mid-year, pricing for most classes of business was back to technical levels - but cyber remains an outlier
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NewsEuropean Commission approves Aon-WTW merger subject to divestments
The European Commission (EC) has approved broker Aon’s acquisition of Willis Towers Watson (WTW), subject to planned divestment deals with international broker Gallagher.
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NewsPool Re forms advisory group for systemic risks
12 members have joined the group, planning to act to protect the UK economy as ‘when the next risk comes, we must be ready for it’
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NewsInsurance industry leaders inaugurate alliance to accelerate net zero transition
As the intergovernmental G20 forum gathered in Venice for its Climate Summit on 9 and 10 July, eight of the world’s leading insurers and reinsurers have collaborated to establish the UN-convened Net Zero Insurance Alliance (NZIA).
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NewsInsurers are making demands of 40-year-old buildings after Surfside condo collapse
The deadly collapse of the 136-unit high rise has spooked an industry that had already considered older condos on the coast — with their hurricane exposure, their common ownership structure and reputation for delaying maintenance — a high risk, experts say.
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NewsGlobal reinsurance approaching equilibrium: Willis Re 1st View
Reinsurance rate increases continued for most major lines and territories during the 1.6 and 1.7 renewal period; however, in many cases reinsurers had to accept firm order terms below their initial quotes.
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NewsGovernment confirms Solvency II reform to provide ‘more proportionate and flexible’ regulation
HM Treasury has published its response to the call for evidence around the review of Solvency II regulations – based on written feedback from 64 firms, it believes “many aspects of Solvency II are overly rigid and rules-based” and that the regime needs to be “more proportionate and flexible so ...
