News – Page 153
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NewsCinven and GIC to acquire specialist insurance broker Miller
Cinven, the international private equity firm, and GIC, Singapore’s sovereign wealth fund, today announce that they have reached an agreement to acquire leading specialist insurance and (re)insurance broker, Miller, from its partners and corporate member, Willis Towers Watson (“WTW”)
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NewsMunich Re with solid profit for the quarter, considering high losses
Given the ongoing high level of uncertainty regarding the further economic and financial consequences of COVID-19, Munich Re will again not issue profit guidance for 2020 with its Q3 statement.
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NewsStart-Up Reinsurer Conduit Aims for $1.1 Billion London Listing
Conduit, which will be led by its founders Neil Eckert and Trevor Carvey, expects to use the money raised to write reinsurance in property, casualty and specialty classes.
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NewsGlobal ransomware attacks rise 110% in September
Overall, there was a 40% rise in ransomware attacks in the first three quarters of 2020 compared to the same period last year
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NewsGuy Carpenter launches Probabilistic Vietnam Flood Model
The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, which affect 70% of the country’s population.
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NewsAllianz cautious on outlook despite surprise profit rise
After a short period of economic recovery, the recent increase in infection rates has led many governments to intensify containment measures again to limit the spread of COVID-19. As the challenging socio-economic conditions persist, Allianz Group demonstrated its resilience again in the third quarter of 2020 and recorded a solid ...
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NewsBuffett’s Berkshire suffers in pandemic even as Apple boosts profit
Some Berkshire operating businesses have rebounded from their spring depths, and analysts were encouraged that revenue fell just 3% from a year earlier. But COVID-19, hurricanes and low interest rates hurt profit from insurance businesses, which include the Geico auto insurer, and the Precision Castparts aircraft parts unit projected thousands ...
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NewsBoss Hester to net millions in cash windfall upon RSA sale
RSA boss Hester has shares that could be worth millions if the deal goes through
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NewsHow risk and insurance supports sustainability
Energy companies need partners and advisors that can help them make the move to a renewable future
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NewsSilent cyber: Can you hear it?
With events such as WannaCry classified as a cyber catastrophe event, silent cyber issues have developed into coverage disputes
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NewsToo good to turn down? RSA told latest offer better than Zurich’s 2015 bid
RSA is getting ”more than fair value” from the £7.1bn consortium offer being put forward, according to analysts at Jefferies.
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NewsRSA mulls multibillion pound consortium bid
The British insurer has been seen as an attractive acquisition target for some time
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NewsLloyd’s told new blueprint requires total London Market support
In launching the Blueprint Two report, Lloyd’s chairman Bruce Carnegie-Brown said the impact of the Covid-19 pandemic, which has led to a shift towards remote working, had hastened the market’s ambitions.
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NewsGlobal insurance pricing up 20% in Q3
All regions, except Latin America (9%), reported double-digit pricing increases, led by the UK (34%), Pacific (33%), and the US (18%) - Marsh
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NewsBrokers define hard market and struggling economy as their biggest concerns
Research by Aviva also signposts Brexit as the potential cause of an economic decline
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NewsHyperion Insurance name disappears
The Hyperion Insurance name is no more, as the broking firm has officially become Howden Group Holdings, it was announced today.
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NewsFCA outlines key drivers of harm for Lloyd’s and London Market in new ‘Dear CEO’ letter
The letter, which is targeted at Lloyd’s and the London Market intermediaries and MGAs, provides an overview of the areas of focus within the regulator’s supervision strategy
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NewsAllianz Insurance has rolled out free access to online learning platform, LinkedIn Learning, to many of its independent brokers
Building on Allianz’s existing Broker Training proposition, which provides webinars and technical broker training programmes to all brokers, the new offering will provide select independent and regional brokers with access to more than 16,500 on-demand courses from LinkedIn Learning.
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NewsHannover Re expects Group net income of more than EUR 800 million for the 2020 financial year
The company increased its reserves for Covid-19-related losses in property and casualty reinsurance by EUR 100 million to a total amount of EUR 700 million as at the end of September. In life and health reinsurance the burden from Covid-19 currently stands at EUR 160 million.
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NewsGuy Carpenter launches Mutual, Agency and Captive Reinsurance Solutions Practice within Global Marine & Energy Specialty Group
This practice, which forms part of Guy Carpenter’s Global Marine & Energy Specialty group, is one of several key growth strategies the company is focusing on in the marine & energy sector.
