News – Page 60
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NewsMarsh clients can use carbon credits in lieu of broker fees
Program (in partnership with Bank of America) provides ‘another incentive’ for clients to invest in carbon removal
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NewsUK regulations have ‘suffocated’ London’s competitive edge
The news comes as Prime Minister Liz Truss is set to announce sweeping reforms to the financial services industry
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FeaturesBriefing: Reinsurers still facing ‘big issue’ over BI (despite clarity for direct market)
A lack of visibility around aggregation arbitration is preventing reinsurers from dealing with COVID-related BI claims
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NewsCCR to sell €200m stake in CCR Re
French reinsurance mutual needs to grow and become autonomous in the face of growing nat cat losses, says Board
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NewsHurricane Fiona threatens Bermuda as a cat 4
After a remarkably quiet hurricane season to date, Fiona is gaining strength as it passes over Grand Turk Island
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NewsReinsurers risk misunderstanding secondary perils due to cat models
PWC predicts a ‘pretty expensive year’ as secondary perils drive up losses ahead of H2’s Florida hurricane season
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News(Re)insurance sector can no longer ‘waste time’ when it comes to tackling systemic risks – PWC
Finding industry-wide ways to deal with systemic risks is ‘not an urgent task’ the (re)insurance sector has so far undertaken – but this needs to change, says PWC partner
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NewsReinsurance sector needs to invest in cloud-enabled analytics
Although PWC partner believes reinsurance is ‘a little bit behind’ the primary market in terms of digital transformation, Acord vice-president thinks the sector is ‘on the edge of insurtech’
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NewsNew cyber syndicate gets green light from Lloyd’s
Trium Cyber, a risk carrier backed by Jim Stanard’s Pelican Ventures, expects to write $50m of gross premiums in 2023
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NewsAXA launches forest restoration program
Research from the program will be shared at a European level, to strengthen biodiversity and climate resilience
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NewsLosses paid to Florida carriers quadruple in just three years
Losses paid by US-domiciled reinsurers topped $1 billion in 2021, prompting market correction - AM Best
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NewsInsurance industry must support roll out of green technology - PWC
The sector has previously shown ‘inexcusable laziness’ by simply being reactive to client problems, but now the industry must lead on green tech cover to support UK’s transition to net zero
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NewsChedid Re names Elie Abi Rached global CEO
Joe Asmar has been named deputy CEO, whilst retaining his role as group head of facultative reinsurance
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NewsProperty cat retrenchment is improving market ‘stability’
Most large European players remain committed to cat business, but are moving away from lower layers of protection - AM Best
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NewsUS insurers have minimal investment in ILS and cat bonds - AM Best
Just five companies accounting for 70% of industry investments, despite significant growth of alternative market
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NewsLondon market still catching up on admin backlog caused by pre-pandemic ‘creaking systems’
London market firms are ‘leaning into the need to move to a digital marketplace’, causing a technology ‘revolution’
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NewsGallagher Re names Steve Bowen chief science officer
He joins following 15 years at Aon, where he most recently served as managing director and the head of Catastrophe Insight
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NewsBasi: Ukraine is the ‘Hurricane Andrew’ of the specialty markets
Industry must brace for profound changes ahead as economies shift away from globalisation after three decades
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NewsAriel Re: It’s time to stop selling Ferraris at Ford pricing
Reinsurer’s Joel Willens expects to see a further reduction in appetite for property cat going into the renewal season
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NewsLondon market has ‘real opportunity’ to be ‘an innovator’ for climate change transition risks
Brokers, insurers, regulators and markets all have a role to play in supporting the transition to net zero carbon emissions, says professional services firm partner
