News – Page 101
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NewsSyndicate 1856 to underwrite new business lines amid multi-line transformation
Specialist insurer, ERS has announced that Syndicate 1856 has permissions to underwrite new lines of business supporting plans to transform the syndicate into a multi-line (re)insurer.
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NewsInsurers are failing to use their influence to fight climate change - ShareAction
Some commentators believe ’the insurance industry is the single most annoying part of this whole climate puzzle’
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NewsBank of England to step up drive to encourage new insurers
Brexit has given Britain a “unique” opportunity to refashion its globally important insurance sector to attract more new entrants without undermining high regulatory standards, the Bank of England said on Tuesday.
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NewsAspen reveals new global brand identity
Aspen said its new visual identity focuses on its newly articulated vision of “a world where risks are seen as opportunities, not fears”, its mission to create “clarity from complexity”, and its promise to “provide the perspective, approach and structure required to transform risk”.
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People & OpinionProtective Life Corporation appoints Michael J. Morrissey as Board Chairman
Prior to joining the IIS, where he served as President & CEO for more than a decade, Mr. Morrissey was chairman and CEO of Firemark Investments.
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NewsWorkplace reopenings present new risks
Long COVID, differing attitudes to social distancing and reluctance to return to the workplace are among the key challenges
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NewsNew premium finance rules – what does it mean for the industry?
The FCA’s new rules for premium finance aim to do away with high interest being charged for customers that want to spread the cost of their insurance premiums over a few months.
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NewsMoroccan conglomerate Holmarcom Group acquires a majority stake in Kenya’s Monarch Insurance Company
The deal marks the latest high-profile transaction in the local insurance business that has seen the world’s biggest insurers buy into established firms with a regional presence.
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NewsJames Shea to succeed Industry veteran John Charman as Executive Chairman and CEO at Sompo
Mr. Shea will inherit the leadership of a segment that represents more than 30% of Sompo Holdings Group’s projected adjusted profit, employs approximately 6,600 people in over 29 countries and regions and more than $12 billion in gross premiums.
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NewsSaudi insurance sector eyes more mergers and acquisitions
Analysts said the Saudi insurance market is set to witness consolidation with mergers and acquisitions (M&A) gaining pace during 2021.
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NewsAfrica Specialty Risks Continues Growth With Launch Of Parametric Underwriting Division
Africa Specialty Risks (“ASR”) is pleased to announce the launch of its parametric division, alongside the appointment of Dr Raveem Ismail as Head of Parametric Underwriting and Ian Bishop as Parametric Product Manager.
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People & OpinionTrust Re Appoints Yassir Albaharna as Chief Executive Officer
With a renowned international profile and wide marketing network, Mr. Albaharna has more than 34 years of in-depth experience in the reinsurance industry.
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NewsManaging money laundering risk in a COVID world
How money launderers are exploiting know your customer (KYC) checks and using the pandemic as a ruse to move money
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NewsFirms stuck in ‘response’ mode - Deloitte
Over half of organisations have faced a risk incident due to third-party failure during COVID-19 pandemic
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NewsJust 4.5% of Asia cat losses insured in 2020
Economic losses due to natural catastrophes in the region reached $67 billion last year, indicating a huge gap and growth opportunity for re/insurers
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NewsAXA’s Asian operations hit by ransomware attack
It comes a week after the insurer said it would be dropping extortion payments when underwriting cyber-insurance policies in France
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NewsOrganisations failing to anticipate and model key emerging risks: Marsh Report
The findings suggest a significant perception gap with firms’ risk management functions prioritizing short-term threats over those that are high severity but lower frequency.
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NewsEnvironmental risks, climate change threatens megacities
Firms must align climate risk assessments with the recommendations of the TCFD to build greater resilience - Verisk Maplecroft
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People & OpinionHamilton appoints Craig Howie as group chief financial officer
Howie joins Hamilton after nine years at Everest Re Group where he was EVP, Chief Financial Officer. Prior to joining Everest, Howie spent over 23 years at Munich Re America where he held a number of senior finance positions.
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