News – Page 55
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NewsCollateralised Re yet to rebound, cat bonds lead ILS growth – Moody’s
Rises in traditional reinsurance pricing have caused demand for alternative structures, especially cat bonds, according to a report from the rating agency.
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NewsFour new satellites take ICEYE up to 31 deployed in space
SpaceX’s latest launch adds more radar imaging satellites to the picture for the synthetic aperture radar specialist, which serves governments, such as the US and Ukraine, as well as re/insurance markets.
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NewsMunich Re ups 2023 outlook with P&C-driven Q3 profit
The world’s biggest reinsurer reported a net profit of €1.2bn for the third quarter of 2023, with major-loss expenditure in P&C reinsurance slightly below average.
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NewsFrench reinsurer SCOR reported group profit of €147m in Q3
SCOR generated €147m net income in Q3 2023, contributing to a “strong nine-month performance” with a net income of €650m.
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NewsLloyd’s chairman apologises for insurance market’s historical slave trade role, announces Inclusive Futures programme
New initiatives announced at Lloyd’s “to create a more equitable market and society” follow independent research exploring Lloyd’s historical links to the transatlantic slave trade.
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NewsWTW launches Asia Pacific Climate Risk Centre in Singapore
The insurance broker said it would provide climate risk quantification and management capabilities to support the region’s resilience and transition to net-zero.
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NewsAon combines EMEA and UK CEO roles under Page
Eduardo Dávila, Aon’s CEO for Europe, Middle East and Africa (EMEA), will depart the firm at the end of 2023, the broking firm announced.
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NewsAspen appoints Mardon as Bermuda CUO and to lead prop cat globally
Tim Mardon joins Aspen from SiriusPoint, where he was global head of property reinsurance.
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NewsQ3 surge causes insurtech investment to surpass $1bn – Gallagher Re
Driven by a 25.5% quarter-on-quarter surge in P&C insurtech investment, new funding edged past a billion dollars to $1.1bn during the third quarter of 2023, up 19.8%, according to the latest Global Insurtech Report from Gallagher Re.
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NewsUkraine war risk database in test phase, war risk pool efforts continue – Guy Carpenter
A Ukrainian war risk loss event database, developed by Guy Carpenter and Oliver Wyman with the Ukrainian government, is in its testing phase, Julian Enoizi revealed to GR.
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NewsRisks associated with AI and big data becoming more of a concern – Axa
’As an insurer, our role is to propose solutions and we are fully mobilised to fulfil it,’ says chief executive
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NewsLondon Bridge 2 has alternative capital pipeline up to $1bn - Lloyd’s CFO Keese
Lloyd’s of London’s flagship London Bridge 2 project for facilitating the flow of alternative capital into the market currently has between $500m and $1bn under negotiation, according to Lloyd’s chief financial officer Burkhard Keese.
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NewsSarah Warren Returns to Argenta as head of energy
This appointment marks Warren’s return to Argenta, having joined the business in 2010 to grow Argenta’s upstream energy portfolio
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NewsTwo new members elected to Lloyd’s Council, both deputy chairs re-elected
Sean McGovern, CEO for the UK and Lloyd’s at re/insurer AXA XL, is one of those elected to the Lloyd’s Council.
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NewsLMG makes apprentice drive to bring young talent to London market
”Our market is attractive to young people if you open the door to them”, said Sean McGovern, LMG chair.
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NewsAviva targets “market-leading” position in the high net worth insurance business
Ann Owen, Aviva’s managing director for HNW speaks to the “insane” pace of the past few years and how a defined strategy is driving the business forward.
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NewsBaden Baden: Moody’s RMS to invest ‘full guns blazing’ in cyber as market reaches tipping point
Catastrophe modeller Moody’s RMS is investing heavily in cyber modelling in response to re/insurance demand.
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NewsRansomware attacks break records, up 95% in 2023 – Corvus
Law practices, government agencies, manufacturing, oil and gas, transportation, logistics and storage sectors were among the sectors hardest hit by a record-breaking spike in ransomware attack frequency.
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NewsBaden Baden: Upward pricing momentum continues, reinsurers “shouldn’t forget” previous years – Ariel Re
For this week’s reinsurance meeting in Baden-Baden, property underwriters for Ariel Re are upbeat about continued hard market pricing.
