News – Page 169
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News AgendaAl Zain appointed CEO at Bahrain’s Trust Re
Downgrade-hit Trust Re has announced a new chief executive to lead the reinsurer
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News AgendaRelentless decline in reinsurers’ underlying RoE – Willis Re report
Underlying RoE fell to 2.7% as an average across reinsurers writing natural catastrophe risks in 2018, just part of a “relentless decline since 2013”
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News AgendaAon combines its construction, engineering and inland marine teams
Reinsurance broker aligns to the approach of many carriers underwriting the three risks together
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News AgendaCovea still wants to buy a reinsurer
French insurer Covea still wants to make a reinsurance acquisition, despite its failed takeover plan for Scor
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News AgendaLatam fac combined across Marsh, Guy Carpenter and JLT
Newly branded Carpenter Marsh Fac Re will combine the broker’s facultative reinsurance business for Latin America
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News AgendaAxa could be exposed to Notre-Dame fire
French company Axa insured two of the contractors making renovations to the 12th century cathedral when fire broke out
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News AgendaReinsurers weathering the storm – Aon
A 3% drop in total global reinsurance capital in 2018 needs to be taken in the context of nearly 30% capital increase since 2011, according to Aon
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News AgendaSecondary perils are causing the bulk of cat losses – Swiss Re Sigma
Events such as wildfires and floods, so-called secondary perils for catastrophe risk re/insurers, constituted some 62% of insured losses from natural catastrophes in 2018, and more than 50% the previous year
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News AgendaAon points to rising populism and terrorism risks in Europe
A surge in support for populist politicians and an uptick in the number of attacks by far-right terrorists have created an increasingly complex risk environment for firms, according to re/insurance broker Aon
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News AgendaGallagher appoints Thompson as UK specialty, wholesale CEO
John Thompson has been announced as the new permanent CEO of Gallagher’s specialty London market and wholesale businesses
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News AgendaCat losses and investments keep London carriers out of profit
Beazley and Hiscox managed underwriting profits in 2018 due to their non-catastrophe exposed specialty classes, according to Fitch Ratings
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News AgendaDrop in downstream energy capacity
Willis Towers Watson’s energy market review traces the first decrease in downstream energy underwriting capacity since 2001
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News AgendaRate rises of 25% on loss-hit business, the rest flat – Willis Re
Reinsurance pricing was “rational” at April 1 renewals, according to broker Willis Re
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News AgendaBillion pound loss at Lloyd’s for 2018
Last year the re/insurance market paid out some £19.7bn in claims, and lost £1bn overall
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News AgendaLloyd’s responds to sexual harassment reports
The Lloyd’s market has announced a plan to create a safe and inclusive working environment
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News AgendaLloyd’s chief risk officer Weaver quits
Hilary Weaver, CRO at Lloyd’s, has left after 16 years at the insurance market
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News AgendaCyber market faces another claims test after Hydro hack
One of the largest aluminium producers in the world, Norway’s Hydro, is set to put cyber insurers to the test after a massive ransomware attack shut down the multinational’s operations
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News AgendaWillis Re appoints new London claims boss
The former Brit claims leader and Standard Syndicate 1884 managing director joins the reinsurance broker
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News AgendaPeak Re points to Guangdong GBA opportunity
A single market for China’s Greater Bay Area of Guangdong, Macao and Hong Kong is a major re/insurance opportunity, a senior Peak Re exec noted at a speech at Lloyd’s
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News AgendaUK insurers are prepared for Brexit, but Part VII transfers to go over the deadline
Part VII transfers for existing business will take time to be confirmed, but regulators are allowing for more time, provided the process is begun before March 29, according to an AM Best report
