All News articles – Page 9
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The ART of renewals
Alternative risk transfer and parametric solutions can offer more than just relief from a hard market
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Insurers ‘bullish’ about London’s future post Brexit
Technology and automation are ‘top strategic’ priorities but more complex regulations remain a challenge
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Lloyd’s of London ‘won’t tolerate loss-making syndicates’
Lloyd’s of London has revealed that 15% of its syndicates are currently underperforming, according to the market’s chief financial officer Burkhard Keese.
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Concirrus unveils new IoT platform for commercial insurance market
Insurtech, Concirrus has launched a new Internet of Things (IoT) platform for the commercial insurance market.
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Markel opens Paris branch to support SMEs in the French market
Markel Corporation has opened a new branch office in Paris to support SMEs in the French market.
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Lloyd’s Market Association boosts board by six
Each new hire brings expertise across a broad range of disciplines such as digital trading, underwriting leadership, strategy, corporate development, data analysis and syndicate management.
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UK executives most concerned about technology disruption risks in 2021 – Beazley
Specialist insurer Beazley has revealed the UK is more concerned about technology disruption risk than the US.
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Briefing: Will ADS safety rating put brakes on government’s automated driving push?
Industry commentators still have questions around the safety of technology such as ALKS, however the UK government is eager to have automated driving on Britain’s roads this year
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Lloyd’s bounces back from 2020 loss with £1.4bn profit before tax for H1 2021
Lloyd’s of London has bounced back from last year’s Covid-induced losses, reporting an aggregated profit before tax of £1.4bn for the first half of 2021, compared to a loss of £0.4bn in H1 of 2020.
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Davies set to buy Lloyd’s managing agent
Claims organisation Davies has today (8 September 2021) announced the acquisition of third party Lloyd’s managing agency Asta, subject to regulatory approval.
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Axa sells insurance operations in Gulf region
Insurer Axa has today (7 September 2021) confirmed that it has completed the sale of its 50% shareholding in Axa Gulf and its 34% shareholding in Saudi Arabia-based Axa Cooperative Insurance Company to insurance firm Gulf Insurance Group, situated in Kuwait.
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New Dawn Risk ‘strongly positioned’ to grow after hiring industry veteran
International specialty insurance broker New Dawn Risk Group is “strongly positioned” to become an influential participant in the specialty liability market, according to its chief executive Max Carter.
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Briefing: Addressing emerging geopolitical risks is ‘major growth opportunity for insurers’
New Lloyd’s report calls for innovation around insurance for geopolitical risks as it identifies 10 ‘paradigm shift’ factors that could affect whether current cover is still fit for purpose
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CVC funds complete acquisition of RiverStone Europe and appoints Preben Prebensen as Chair
Industry veteran Nick Packer will also join the Board of the business, which will now be known as RiverStone International
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Ariel Re granted ‘In Principle’ approval to establish a Lloyd’s Managing Agent
The new company, Ariel Re Managing Agency (“ARMA”), is expected to manage the business ofSyndicate 1910 and SPA 6117 from early 2022 subject to regulatory permissions.
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Aon has announced new global leadership roles in Reinsurance Solutions
This evolution of the team is designed to create greater opportunities for existing and new talent in the firm’s growth journey and deliver enhanced solutions for clients.
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Axa has paid £75m for Covid-linked BI claims to date
Insurer Axa has paid out £75m for Covid-19-related business interruption (BI) claims following the Supreme Court’s appeal ruling in January 2021, confirmed Tara Foley, the firm’s chief executive of UK retail.
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Willis Tower Watson sues broker rival over ‘poaching’ for its public entity team
Willis Towers Watson (WTW) has sued broker Alliant Insurance Services for reportedly ”poaching its staff” to grow its public entity team.
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Bermuda (Re)insurers paid $30 billion to European Union customers since 2016
The survey results reflect the growing significance of the Bermuda (re)insurance market’s contribution to the EU over these two and a half decades.