All News articles – Page 10
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Irish competition authority secures commitment from six insurers to combat price signalling
The Competition and Consumer Protection Commission (CCPC) in Ireland has secured legally binding commitments from six insurers operating in the country’s motor insurance market in a bid to stamp out price signalling.
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Covid-19 drives underwriting losses of £2bn for Lloyd’s market – Insurance DataLab
The Covid-19 pandemic has driven underwriting losses of more than £2bn in 2020 for Lloyd’s market according to new analysis from Insurance DataLab.
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Insurance industry witnesses ‘large drop in appetite for terrorism cover’
The “terrorism threat level in the UK is going to rise” as the current conflict in Afghanistan continues and Al-Qaeda, alongside other Islamist extremist groups, fights to freely operate in the country once again, according to Alan Brett, product development manager at MGA Inperio.
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Tokio Marine Holdings completes share buyback
TMH stated that the reason for the repurchase of its shares was to implement flexible financial policies.
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FCA updates GI pricing rules following stakeholder feedback
The FCA has issued an update to its incoming pricing practice changes for the motor and home insurance markets, based on feedback from stakeholders.
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Tokio Marine Insurance Singapore falls victim to ransomware cyber attack
Tokio Marine Insurance Singapore Limited (TMiS) revealed it was subject to a ransomware cyber-attack on August 16 2021
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Whitespace sees 84% increase in business placed on its etrade platform during 2021
Technology company Whitespace has seen a notable increase in the adoption and usage of its digital etrading platform for brokers and insurers over the last 14 months, with an increase of 84% in June 2021.
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AM 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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Flood 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
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Warren Buffett’s Berkshire Hathaway recovers from coronavirus slowdown
The company Buffett has run since 1965 also signaled the billionaire’s confidence in its future by repurchasing $6 billion of its own shares in the second quarter, even as its stock price regularly set new highs.
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Outlook for 2021: Hannover Re confirms all full-year guidance after successful first half-year
Hannover Re substantially increased its Group net income in the first half of 2021 and considers itself well on track to achieve the targets set for the current financial year. At the same time, gross premiums saw further double-digit growth. “We achieved a thoroughly satisfactory half-year result that is ...
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Lockton Re partners with Nephila Capital to launch a new automated placement solution
The company announced the “first-of-its-kind”, digital capability – Lockton Re SAGELink Automated Placement Solutions – today.
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Enstar announces departure of CFO Zachary Wolf
Orla Gregory, Enstar’s current Chief Operating Officer, has been named Acting Chief Financial Officer.
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Marsh enters Amazon partnership to provide product liability insurance for online sellers
Broker Marsh yesterday (10 August 2021) announced that it has entered into a new partnership to help small businesses get affordable product liability coverage.
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Briefing: Pandemic predators - private equity dominance sparks concerns
Private equity is seen by some as predators of the pandemic, buying UK firms cheaply. Is it time for reform?
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Spoof ads rife for insurers and brokers despite Google crack down
The FCA seeks to resolve ’the root cause’ of fraudulent adverts, however the government’s Online Safety Bill needs to be broadened if it is to play an important role here
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New broker-centric MGA Hoxton Insurance Services hits high net worth sector
A new MGA called Hoxton Insurance Services, which trades exclusively with brokers, has been launched by MGA specialist NuVenture International Ltd.
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Allianz shows ‘continued determination’ to find ‘ways to trade successfully with brokers’
LV=GI boss adds that the ‘opportunities’ to work with brokers are ‘great’ as its intermediary channel grows by 150% in 2021’s H1
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AIG tightens cyber insurance limits as premiums climb
AIG is tightening the terms of its cyber insurance after its premium prices for this line of business were up by nearly 40% globally in quarter two of 2021.
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Irish insurer expects Covid BI claim payments to hit €183m
Irish insurer FBD has cranked up its estimated cost for paying out Covid-linked business interruption (BI) claims from €150m (£127m) to €183m (£154m), according to the Irish Examiner.