All News articles – Page 36
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NewsSCOR posts Q2 P&C combined ratio of 88.5% and €192m groupwide profit
Market conditions remain favourable for reinsurers in pricing and terms and conditions, French reinsurer SCOR reported in its second quarter statement.
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NewsHowden Switzerland acquires specialist aviation broker Hudson Sky
Hudson Sky has established itself as a leading aviation re/insurance broker in the Swiss market, particularly focused on helicopter business.
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NewsStorms are getting stronger – Lockton Re climate study
Reinsurance broker Lockton Re has published a report on climate change and hurricane trends.
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NewsAbove-average H1 nat cats hit $52bn – Gallagher Re
Insured losses from natural catastrophes in the first half of 2023 were driven by a series of big US storms and El Niño’s arrival.
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NewsFraud investigation at insurtech unicorn Vesttoo
External auditors are probing “inconsistencies” at the AI-based broking platform for collateralised reinsurance and ILS deals.
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NewsBMS buys Brazilian reinsurance broker KNW
Furthering its Latin American reinsurance broking ambitions, BMS is acquiring Sao Paulo-based KNW Brokers Corretora de Resseguros.
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NewsTech expected to lead M&A, environmental litigation top risk
Almost half of execs expect an uptick in mergers and acquisitions, with technology, media and telecoms expected to be the most prolific sector for transactions, according to an Aon, Mergermarket study.
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NewsLloyd’s appoints Clement as its corporate affairs director
Rebekah Clement takes up what is a newly created role for Lloyd’s of London.
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NewsCooper appointed reinsurance head and Bermuda CEO at Canopius
Charles Cooper joins Canopius from AXA XL, where he was its reinsurance chief executive in Bermuda.
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NewsFrench riots cost insurers €650m in claims – France Assureurs
Civil unrest in Paris and across France resulted in 11,300 claims, with commercial property accounting for 55% of the claims cost, according to a French insurance industry group.
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NewsAon Reinsurance Solutions announces "simplified" UK exec structure
The reinsurance broker said it has changed its UK leadership structure to drive growth and collaboration.
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NewsRecalibration at mid-year 2023 renewals – Guy Carpenter
Property pricing saw continued risk-adjusted rate increases in many segments at 1 July renewals, which also benefitted from “improved timing and concurrence around T&Cs”, Guy Carpenter reported.
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NewsReinsurers need to modernise to stay differentiated
Technological investment by reinsurers is critical to remain relevant and will lead to greater long-term financial health, writes Tim Spencer, Duck Creek’s reinsurance leader for London Markets, UK, and Ireland.
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NewsICMIF appoints Green as its new CEO
Shaun Tarbuck will retire from his role as CEO of mutual insurers’ representative group the ICMIF in November 2024.
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NewsGlobal cyber premiums could exceed $50bn by 2030 – Howden
Some 45% of cyber premium gets ceded to reinsurers, cyber reinsurance premium is currently about $6bn, but the cyber reinsurance market will need to more than triple in size by the end of this decade to meet demand, according to Howden.
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NewsLatin America, political protests and global reinsurers
By Leonardo Garzon, managing director, Latin America and Joe Jarvis, regional senior adjuster, at claims services provider McLarens.
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NewsSteve Hearn is to leave Ardonagh
Steve Hearn, CEO of Inver Re, the reinsurance broking arm of Ardonagh Group, will leave the company this summer.
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NewsReinsurance market moves to more stable footing – Aon
Mid-year renewals show order returning as pressure on pricing and T&Cs eased compared to 1/1, the re/insurance broker has reported, but double digit rises recorded on Australian business.
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NewsAon touts $200bn transformative tech opportunity for insurers
Prescriptive Analytics alone will generate more than $100bn in fresh premium by 2030, according to the re/insurance broker.
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NewsGallagher Re expects reinsurer discipline from 7/1
Reinsurers are expected to have held the line on pricing after the smoke clears from the 1 July renewal, consistent with the pricing gains seen at the start of this year.
