News – Page 96
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NewsRokstone receives cover holder licence to underwrite in Africa
Rokstone, the international speciality (re)insurance MGA, part of Aventum Group, has announced it has secured an Insurance Agent Licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa from its office in Mauritius. Brokers across Africa can now access world ...
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NewsLiberty Mutual Insurance to acquire State Auto Group
The acquisition will significantly expand Liberty Mutual’s position as an industry leader for personal lines and small commercial insurance.
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NewsFitch: Olympics without crowds to cost Reinsurers USD300m–400m
Fitch Ratings says. However, this is only 10%–15% of the amount reinsurers would have faced had the Olympics been cancelled, and its impact on earnings should be limited, leaving capital and ratings unaffected.
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People & OpinionBeazley appoints new chief operating officer from HSBC
London market insurer Beazley has appointed former HSBC staffer Troy Dehmann as its new chief operating officer, effective immediately.
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NewsInsurance industry leaders inaugurate alliance to accelerate net zero transition
As the intergovernmental G20 forum gathered in Venice for its Climate Summit on 9 and 10 July, eight of the world’s leading insurers and reinsurers have collaborated to establish the UN-convened Net Zero Insurance Alliance (NZIA).
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NewsEuropean Commission approves Aon-WTW merger subject to divestments
The European Commission (EC) has approved broker Aon’s acquisition of Willis Towers Watson (WTW), subject to planned divestment deals with international broker Gallagher.
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NewsPool Re forms advisory group for systemic risks
12 members have joined the group, planning to act to protect the UK economy as ‘when the next risk comes, we must be ready for it’
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NewsIs the ‘harsh market’ starting to ease?
At mid-year, pricing for most classes of business was back to technical levels - but cyber remains an outlier
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NewsCOVID-19 forced firms to ‘cut corners’
Under mounting pressure to increase revenue and profits, with just 40% of European organisations carrying out adequate due diligence - Refinitiv
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NewsAllianz: Piloting post-COVID aviation trends
New generation aircraft bring benefits but higher repair costs while airlines prepare for a paradigm shift in traveling - Allianz
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NewsGlobal cyber insurance pricing increases by 32% – Howden
International insurance broker Howden released a new report yesterday (5 July 2021) which revealed that cyber insurance pricing has increased by an average of 32% year-on-year in June 2021.
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NewsInsurers are making demands of 40-year-old buildings after Surfside condo collapse
The deadly collapse of the 136-unit high rise has spooked an industry that had already considered older condos on the coast — with their hurricane exposure, their common ownership structure and reputation for delaying maintenance — a high risk, experts say.
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News‘Colossal’ ransomware attack hits 200 firms
Attack on Miami-based IT supplier Kaseya was timed to coincide with the 4th of July celebrations
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NewsGlobal reinsurance approaching equilibrium: Willis Re 1st View
Reinsurance rate increases continued for most major lines and territories during the 1.6 and 1.7 renewal period; however, in many cases reinsurers had to accept firm order terms below their initial quotes.
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NewsGovernment confirms Solvency II reform to provide ‘more proportionate and flexible’ regulation
HM Treasury has published its response to the call for evidence around the review of Solvency II regulations – based on written feedback from 64 firms, it believes “many aspects of Solvency II are overly rigid and rules-based” and that the regime needs to be “more proportionate and flexible so ...
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NewsInsurers brace for claims as Wimbledon defends ‘super slippery’ courts following star player slips
Insurers could be bracing for claims following star players Serena Williams and Adrian Mannarino slipping on court and injuring themselves during the Wimbledon tennis championship on Tuesday (30 June 2021).
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NewsSingapore watchdog plans ‘further review’ of Aon-WTW merger
The Competition and Consumer Commission of Singapore (CCCS) has “identified areas for further review” following an initial investigation into Aon’s proposed £30bn acquisition of Willis Towers Watson (WTW).
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NewsArcus 1856 rebrands to IQUW
Lloyd’s syndicate Arcus 1856 is today (1 July 2021) rebranding to IQUW, as the syndicate continues to execute its vision to become a more diverse, multi-line (re)insurer.
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People & OpinionAcrisure appoints Grahame Millwater in the new role of head of global insurance
The company said it is putting in place the operational and strategic elements to enable its expansion into a broader fintech financial services company.
