News – Page 257
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Online onlyForeign insurers to quadruple China market share
Regulatory changes mean they will control 4% of country’s general insurance market in next five years, predicts Ernst & Young
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Online onlyEuropean floods: €3bn of damage in Austria
Germany and Czech Republic also badly affected
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Online onlyFitch predicts more Indonesian insurance M&A
Statement follows Dai-ichi Life’s decision to buy 40% stake in Indonesia’s Panin Life
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Online onlyTower Group to buy American Safety Reinsurance for $59m
Operations and staff to be combined with Bermuda-based Tower Re
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Online onlyM6.2 earthquake strikes rural Taiwan
AIR does not expect significant insured losses; Shaking felt in Taipei
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Online onlyCentral Europe hit by record floods
South-eastern Germany has borne the brunt of the damage
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Online onlyGenerali sells US life reinsurance unit to Scor
Deal worth $920m as Generali disposes of “non-core assets”
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Online onlyGuy Carpenter: Pricing down at 1 June renewals
Some ILS options at mid-year were more competitively priced than traditional cover
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Online onlyAbu Dhabi financial centre faces challenges
Global Marketplace Abu Dhabi’s success will depend on its ability to find a niche not covered by Dubai, Qatar and Bahrain, says AM Best
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Online onlyAM Best: Florida cat fund in better shape
Reinsurance cover provided by FHCF will no longer face a 5% reduction in rating agency assessments
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Online onlyAM Best: Toa Re ratings affirmed
Japan’s domestic reinsurer has reduced its catastrophe exposures
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Online onlyFitch: US (re)insurers to withstand 2013 hurricanes
Post-Sandy pricing has improved but capital market competition is changing the market
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Online onlyCalifornia shaken by two earthquakes
M5.7 quake in Northern California part of an ‘earthquake swarm’
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Online onlyKane hires Dubai-based head of compliance
David Cafferty will be responsible for growing Kane’s compliance practice in MENA
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Online onlyErgo seeking acquisitions to grow Asia presence
Insurer awaiting life licences in India and China
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Online onlyAIG and PICC sign China joint venture deal
The deal will allow AIG to enter the Chinese life market
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Online onlyLeadenhall wins mandate from New Zealand government fund
$275m mandate takes Leadenhall’s ILS investment beyond $1.4bn
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Online onlyRMS: Oklahoma tornado could cost insurers $3.5bn
Event has potential to be costliest on record, says RMS director
