News – Page 109
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NewsInsurers paid out £472m in interim and final BI claim payouts following test case – FCA
The regulator calculated that 10,207 BI policyholders out of the 21,140 who have had claims accepted have received at least an interim payment
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NewsIkea France on trial over spying claims
Former head of Ikea France’s risk management department, Jean-François Paris, is among those accused
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NewsKessler: Pandemic risk was ignored
Decisions-makers have “been making things up as they go along” and the “failings of public risk management are plain”, accuses SCOR CEO
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NewsArch Capital to acquire Westpac Lenders Mortgage Insurance
The Global Mortgage Group of Bermudian-based Arch has entered into a share purchase agreement with the Westpac Group to make the acquisition.
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NewsUAE’s Etihad Credit Insurance to prioritise saving jobs when extending trade finance
Etihad Credit Insurance will be issuing another 2,000 ‘revolving credit guarantees’ to UAE-based exporters this year, as part of its bid to revive business activity after the COVID-19 induced damage.
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NewsDubai’s DIFC records best performance in 2020, with fintech presence doubling
The Dubai International Financial Centre has just turned its best annual performance ever, with a 20 per cent increase in the number of licensed firms to total 2,919 companies.
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NewsR&Q increases interest in Tradesman
R&Q acquired its interest in Tradesman when it merged RRRe into Tradesman on 1 September 2020. Following completion of today’s agreement R&Q will own 40% of Tradesman with RRCP owning 60% of Tradesman and 100% of RRRe.
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NewsInsurer Chubb offers to acquire rival Hartford for $23.24 billion
Property and casualty insurer Chubb Ltd on Thursday offered to acquire smaller rival Hartford Financial Services Group Inc in a $23.24 billion cash-and-stock deal.
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People & OpinionMcLarens appoints new management in Ireland
The former Sedgwick Ireland staffer has more than 30 years of industry experience
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NewsInsurance group launches new global risk service
Zurich plans to take its ‘risk advisory and prevention services to the next level’ to ‘equip customers with the knowledge to tackle challenges before they develop’
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NewsCovid-19 pandemic exacerbates fine art insurance’s hard market conditions
The art sector is heavily reliant on social contact, so the uncertainty of the coronavirus lockdowns have created added risks and challenges from pushing sales online
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NewsLockdown accelerates Aviva’s online trading by 20%
The insurer hopes to continue investing in its direct business, as well as its commercial, broker and bank channels
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NewsBupa axes travel insurance due to Brexit
The insurer plans to instead ’focus on our health, cash plan and dental insurance businesses’
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NewsReinsurance Resilience: Private Market Capital
While concerns regarding the selective appetite of private markets for backing catastrophic risk have unfolded in areas with large losses in recent years, the reinsurance market has become well-versed at overcoming major losses and has navigated a number of capital challenges following major disasters, such as the September 11 attacks, ...
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NewsSwiss Re announces ambitious climate targets; accelerates race to net zero
Swiss Re today announced new measures to support the transition to a net-zero economy, encompassing both asset management and underwriting as well as its own operations.
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NewsReuters: EU system needed for dealing with failing insurers, EU official says
A new mechanism for shutting failing insurers smoothly could help maintain trust in the sector as part of a review of capital rules that is unlikely to come into effect before 2025, European Commission officials said on Tuesday.
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NewsReuters: Brexit won’t mean lower capital buffers for insurers, says Bank of England
A review of the UK’s insurance capital rules will not lead to any “radical departure” or a reduction in requirements, but it will take time to complete, Bank of England Deputy Governor Sam Woods said on Tuesday. Britain’s exit from the European Union has prompted the government to review insurance ...
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NewsG-20 firms prepare for future crises
Seventy-five percent of organisations must adapt to survive “seismic shifts” in the market, finds resilience study
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NewsTop women in insurtech weigh in on diversity and inclusion debate
Insurance Times speaks to some of the top women in insurtech in honour of International Women’s Day this month, spotlighting individual contributions to the sector as well as unpicking the value of having a diverse workforce
