All News articles – Page 22
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Insurers 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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FCA test case appeal confirmed for Supreme Court
However Ecclesiastical and Zurich have bowed out, while Qatar Insurance Company has been denied the right to intervene
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Dubai World Insurance Congress 2022: Building a ‘Hybrid’ event
Join us at the biggest ‘pre-scheduled business meet-up’ in the Middle East.
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FCA called out as ‘shining example of regulatory intervention’ for test case action
Legal professionals are applauding the FCA’s prompt response to the conflict between insurers and policyholders surrounding Covid-19-related business interruption (BI) claims as the High Court yesterday published its verdict on the eight-day test case that sought to clarify non-damage BI policy wordings and their interpretation.
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Briefing: Customers will face more agony despite test case ruling
The FCA ruling will only help some clients and, even then, there will be arguments over payouts. The FCA ruling closes one chapter on this unedifying experience for the insurance industry. There are lessons to be learned.
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Hannover Re anticipates significant price increases in property and casualty reinsurance
Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021. The key drivers here are the strains incurred by primary insurers and reinsurers in connection with the Covid-19 pandemic, a further drop in interest ...
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Fitch: Competition in Sri Lanka Non-Life Sector to Rise as Premiums Fall
Fitch believes that new business premiums from motor insurance - which accounted for around 60% of the non-life insurance industry’s gross premiums - will contract in 2020 with the reduction in new vehicle registrations. We believe the release of the limited new-vehicle stocks into the market will be insufficient to ...
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Fitch: New Supervisory Framework to Enhance HK Insurance Groups’ Risk Management
The proposed new group-wide supervisory (GWS) framework in Hong Kong will strengthen the ability of the regulator to oversee Hong Kong-based internationally active insurance groups (IAIGs), which will push insurance groups to strengthen the sophistication of their risk management and improve the management of their group-wide capital adequacy, Fitch Ratings ...
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SCOR is well positioned to capture profitable growth opportunities from the new supportive market environment
At its annual Investor Day, SCOR’s Executive Management team, led by Denis Kessler, presents an overview of the first year of the “Quantum Leap” strategic plan. SCOR has three key positive messages for its Investor Day. Firstly, SCOR is absorbing the impact of the Covid-19 crisis. Based on data currently ...
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Reinsurance price increases have been ‘timid’ so far, says Swiss Re CUO
Reinsurance price increases seen so far have been “timid,” according to Thierry Léger, group chief underwriting officer at Swiss Re AG.
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AIG reveals limited BI exposure despite $272m Covid-19 hit
Chief executive Brian Duperreault describes Covid-19 as “the single largest CAT loss the industry has ever seen”
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KBRA Releases Research – Coronavirus (COVID-19): Global Insurance Update
Kroll Bond Rating Agency (KBRA) releases updated views about COVID-19’s implications for the global insurance sector. COVID-19 is now officially a pandemic with unprecedented consequences. In this report, KBRA updates our previous views on the implications of the COVID-19 crisis for the life and property and casualty (P&C) insurance subsectors. ...
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BMS acquires Spanish specialist insurance broker Jurado Mata
BMS Group today announced that its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker. The consideration for the transaction was not disclosed. Founded in 1990, Jurado Mata has provided a range of affinity, commercial and personal lines solutions to a range of Spanish clients. ...
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Aspen Insurance Holdings exits underperforming UK regional P&C line
Group chief executive describes 2019’s financial results as ‘disappointing’
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Aspen Insurance Holdings appoints new group chief financial officer
The new hire succeeds Scott Kirk, who is leaving the firm at the end of April
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DWIC 2020: Building a sustainable and affordable healthcare market for MENA
With increases in medical costs easily outstripping inflation, what can be done to manage costs, increase affordability for all and build sustainable profits?
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In Pictures: Dubai World Insurance Congress 2020
With close to 600 delegates coming from across the MENA region and beyond, networking has been high on the to-do list, supported by a varied agenda driving debate on some of the hottest topics facing the industry
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Contrarian PartnerRe betting on L&H, pureplay reinsurer strategy
Emmanuel Clarke said PartnerRe’s life and health business had grown by 23%
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JBA set to launch first probabilistic global flood model
Risk carriers active in Southeast Asia and Japan are among those expressing interest in JBA Risk Management’s new worldwide flood model
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Munich Re reaches landmark cyber premium total
Munich Re’s market share in cyber now at just over 5%