All News articles – Page 20
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South African court dismisses insurer Guardrisk’s appeal in COVID-19 claims case
Like other insurers in South Africa and around the world, Guardrisk, the fourth largest non-life insurer in the country, has been battling with clients over its rejection of claims related to the impact of the pandemic on their businesses.
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Irish regulator finds that ‘dual pricing is evident’ within home and motor markets
Customers in Ireland who have stayed with their car or home insurer the longest are paying the most for their insurance coverage, according to Ireland’s financial services regulator the Central Bank of Ireland.
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‘Known unknowns’ are creating ‘nervousness’ in D&O market
“Known unknowns” such as climate change, cyber risks and environmental, social or governance (ESG) factors have “created a lot of nervousness” in the directors’ and officers’ (D&O) insurance market, according to a new report by Allianz Global Corporate and Specialty (AGCS).
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Zurich, Farmers to buy MetLife U.S. motor, home insurance business for $3.94 billion
Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more profitable.
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Aon Report highlights a path toward “The New Better” in wake of COVID-19 Pandemic
Aon has published a global report, ”Helping organisations Chart a Course to the New Better,” which presents research, regional findings and trends on how organisations have responded to the novel coronavirus (COVID-19) pandemic to date and are adapting to prepare for other emerging long-tail risks.
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Munich Re’s “Ambition 2025” sets new growth and results targets
With its Group Ambition 2025, Munich Re has specified a series of bold targets for the next five years
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Flock enters flexible connected motor insurance market
It is also signing up a select number of forward-thinking fleet owners for an entirely usage-based insurance product, set for widespread availability in 2021
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Blueprint Two is Lloyd’s ‘rubber hits the road moment’ – John Neal
Blueprint Two is Lloyd’s of London’s “when rubber hits the road moment,” according to its chief executive John Neal.
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Lemonade enters its third European market
Lemonade has already expanded into Germany and The Netherlands
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Reinsurer Conduit rises 5% after pricing $1.1 billion London IPO
The company sold 164.13 million shares at 500 pence per share, it said earlier in the day. By 1100 GMT, they had risen to 526 pence.
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Newly launched London market broker begins trading
A new independent London market intermediary Ballantyne Brokers has begun business.
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EIOPA must not undermine the ability of insurers to use reinsurance to manage risk
While EIOPA has acknowledged reinsurance as an effective way to mitigate risks that an insurer either cannot bear on its own or does not have the appetite to do so, insurers are concerned that the draft supervisory statement could restrict the valid use of reinsurance RMT.
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AmWINS to acquire Bermuda-based International Specialty Brokers
ISBL will join AmWINS Brokerage and become AmWINS Bermuda January 1, 2021
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India’s insurance platform Turtlemint raises $30 million
Only a fraction of India’s 1.3 billion people currently have access to insurance. Insurance products had reached less than 3% of the population as of 2017, according to rating agency ICRA.
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Enstar to sell Starstone Lloyd’s managing agency to newly formed venture Inigo
Enstar, Stone Point and Dowling funds will receive $30 million of consideration from the sale of SUL in the form of Inigo shares upon closing.
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Iota considered the strongest hurricane in history to hit Nicaragua, government says
More than 400,000 people in Nicaragua were affected by the storm as it made landfall near Haulover, Tuesday as a Category 4 storm with maximum sustained winds near 155 mph, according to the NHC.
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Re/insurers recognise the importance of ESG strategies but struggling to implement them: AM Best
A proper understanding and integration of environmental, social and governance (ESG) factors is increasingly critical to the long-term viability of re/insurance companies, according to research by AM Best.
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Cameroon Re, new reinsurance company
The project to set up a Cameroonian reinsurance company, initiated in 2019, has been finalised