News – Page 100
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NewsDenmark, Norway most resilient nations - FM Global
Climate risk is an increasingly important factor for companies and leaders making strategic decisions
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NewsIntact and Tryg complete cash acquisition of RSA
Bidco, a wholly owned subsidiary of Canadian insurer Intact Financial Corporation, and Danish insurer Tryg A/S have completed their acquisition of RSA, effective today.
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Newswefox, Germany’s digital insurance unicorn, closes $650m Series C
wefox, the Berlin-based digital insurance company has raised a record US$650 million for its Series C funding, resulting in a post-money valuation of US$3 billion. This round represents the largest Series C to date for an insurtech globally.
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NewsTencent Venture wins license to offer reinsurance in Hong Kong
A joint venture controlled by internet giant Tencent Holdings Ltd. has won a license to offer reinsurance services in the financial hub of Hong Kong, marking a new move into the financial services realm outside its Chinese 2home market, a knowledgeable source told Caixin.
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NewsRandall & Quilter completes four Portfolio Transfers
The four portfolios consisted of over £75million of reserves relating to insurance and reinsurance employer’s liability and public liability risks mainly emanating from the UK and Ireland, underwritten by the QBE Group prior to 2008 in its company and syndicate businesses.
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NewsLloyd’s, London Market Insurance Companies and DXC Technology partner to transform the world’s largest insurance marketplace
This unique agreement, that brings together both the Lloyd’s and insurance company markets in London in a new joint venture agreement with DXC Technology, will deliver both world class technology as well as significantly reducing the processing costs for the market.
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NewsAfter Colonial attack, energy companies rush to secure cyber insurance
U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates following a slew of ransomware attacks.
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NewsFCA publishes policy statement confirming price walking remedies
Law firm partner says the new rules to tackle price walking give the ‘FCA teeth to enforce the requirements against those companies who have been less willing to change’
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NewsCNA Hardy allegedly paid $40m to ransomware attackers
According to Bloomberg, the Chicago-based company paid hackers two weeks after CNA officials were blocked from the network and its data was stolen - this was confirmed by unnamed sources at the insurance provider.
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NewsArdonagh Group to buy insurance operations from tech firm for $500m
The Ardonagh Group has agreed to buy the insurance operations of global broker and financial technology firm BGC Partners for a cash consideration of $500m, subject to regulatory approval.
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NewsBMS launches operations in Turkey
The new company will focus on specialty lines where the team has identified opportunities, together with facultative and treaty reinsurance services, supported by the Group’s hubs in London and elsewhere.
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NewsIoT data is the risk prevention tool of the future in insurance, highlights new Geneva Association report
The report, authored by Isabelle Flückiger and Matteo Carbone, is based on interviews with over 60 insurers, technology companies, start-ups, global organisations and leading academics across all insurance business lines and geographies.
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NewsAmrae: Cyber insurers in “vicious cycle”
Claims frequency and severity grew substantially between 2019 and 2020, outpacing cyber insurance premium growth
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NewsSedgwick predicts post-pandemic recall surge
Product recall events are on the rise despite ongoing operational challenges experienced by global car and OEMs
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NewsTemporary trade credit reinsurance scheme to close
The ABI has revealed that the temporary Trade Credit Reinsurance (TCR) scheme will close on 30 June as planned.
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NewsAviva’s Q1 COR in GI improves to 90.8% for 2021
Aviva’s combined operating ratio (COR) for its general insurance business in the UK, Ireland and Canada stands at 90.8% at the end of quarter one in 2021, compared to 114.2% in 2020’s quarter one – showing a 23.4 percentage point improvement.
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NewsRevealed: Who are the top ethnic minority leaders and role models in 2021?
Several insurance leaders and role models have been named in the latest 2021 Empower ethnic minority lists.
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NewsBroker Insights eyes North American expansion as revenue doubles
Dundee-based insurtech startup, Broker Insights has set its sights on expanding to North America in 2022 as its revenue has doubled to £2.25m in the second year of trading, ending 31 January 2021.
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NewsAviva’s Colm Holmes to replace Allianz chief Jon Dye
Aviva’s chief executive of general insurance Colm Holmes is set to join rival insurer Allianz Holdings, as current chief executive Jon Dye announces he will be stepping down at the end of November 2021.
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NewsSocial engineering: Sophisticated and underinsured
Social engineering attacks are on the rise, but losses can pose a grey area where insurance is concerned
