Europe
Blog: Non-damage business interruption comes ashore
Non-damage business interruption has long existed in the maritime sector and could come ashore for companies looking to protect themselves, especially from cyber risk, explains David Williams, underwriter at The Strike Club.
Axa-XL deal puts both insurers' ratings under review
The major rating agencies have unanimously taken rating actions on both Axa and XL Group following the recent announcement that the French insurance giant is looking to acquire 100% of the specialty insurer.
Interview: Andy Homer, former Towergate CEO
Industry veteran Andy Homer talks to Ryan Hewlett about life after Towergate, the insurtech world and why Brexit represents an open door for the canny Angel investor.
Theresa May says UK will abandon passporting post Brexit
Prime Minister Theresa May said the UK will abandon passporting when it leaves the European Union.
Axa can do what Catlin could not: XL CEO
An XL Group under Axa would provide the Bermuda-based specialty insurer with the scale and competitive edge that it failed to achieve from the landmark Catlin acquisition, XL’s CEO said.
UK brokers warned over unrated insurers following action on Danish carrier
Brokers have again been warned against using unrated carriers following solvency difficulties at Danish carrier Alpha Insurance.
XL Catlin's Tania Bensoussan-Arthur on the new trends grabbing the kidnap and ransom market
As demand for kidnap and ransom insurance is rising in France, Tania Bensoussan-Arthur, underwriting manager – specialty, France at XL Catlin, explains why coverage needs to be tailored the buyer's needs.
Admiral applies for post-Brexit base in Spain
Admiral will aim to open a post-Brexit subsidiary in Spain, the company announced, as it reported a 43% increase in its pre-tax profit last year.
Modernisation essential to ward off emerging market threat, says Beale
Lloyd’s must continue its focus on modernisation or remain under threat from other jurisdictions, a conference heard.
PRA to look at Solvency II impact on insurers
The Prudential Regulation Authority will be working closely with the insurance industry to make sure that Solvency II requirements do not damage competition in the sector, the Association of British Insurers Annual Conference heard today.
Climate groups urge Lloyd’s to tackle coal investment
Lloyd’s of London is under pressure from climate change groups to take action on insuring and investing in coal projects and change its rules for market members.
Administrators appointed at CBL Insurance Europe
The Central Bank of Ireland has appointed an administrator for CBL Insurance Europe.
Hiscox to grow retail business by 15% in 2018
Exclusive: Hiscox is looking to grow its retail arm between 5% and 15% over 2018 Hiscox is looking to grow its retail arm between 5% and 15% in 2018 as the group's profits slumped by over £300m due to natural catastrophe losses .
CBL Insurance goes into interim liquidation
The High Court of New Zealand has ordered CBL Insurance, the main subsidiary of CBL Corporation, be placed into interim liquidation.
Analysis: Why Allianz is pursuing 100% of Euler Hermes
Allianz intends to purchase the remaining shares in Euler Hermes to squeeze out minority shareholders and give the German insurance giant ultimate control.
Generali to cut coal investments by £1.7bn in new climate change strategy
Italian insurer Generali is to divest from the coal industry as part of a new climate change strategy and has pledged to raise investments in environmentally friendly projects.
Lloyd’s gender pay gap at 27.7%
Male employees across Lloyd’s are paid 27.7% higher on average than female staff.
Ageas UK eyes further restructuring to drive profit growth
Ageas will continue to restructure its business even as the company is set to return to an underwriting profit for the remainder of the year.
North Korea, Brexit and trade protectionism top 2018 political risks list
The North Korea missile crisis, Brexit negotiations, and trade protectionism are among the top political risks threatening multinational businesses in 2018, according to Marsh.
Ageas shakes off Ogden impact to return to profit
Ageas UK has seen a return to profit after a year of being hammered by the residual impact of the Ogden rate change.
Buzzvault announces long-term growth plans following Munich Re tie-up
Exclusive: Buzzvault Insurance has entered a five year strategic partnership with Munich Re Digital Partners with plans of releasing products to market by Q3 2018.
Irish regulator forces CBL Insurance Europe to close shop
The Central Bank of Ireland has ordered CBL Insurance Europe to cease writing business with immediate effect, until further notice.
Softbank reported to be eyeing up stake in Swiss Re
Japanese tech-to-financial conglomerate SoftBank is exploring the possibility of taking a $10bn stake in reinsurer Swiss Re, reports suggest.
Swiss Re completes public share buy-back programme
Swiss Re has completed its 2017 public share buy-back programme.