Europe
Liberty promotes Beechey to global financial risks role
Liberty Specialty Markets has named Andrew Beechey as head of underwriting and strategic development for global financial risks.
H2 nat cats set to push up P&C pricing, says Swiss Re
Prices in non-life insurance and reinsurance are expected to increase as a result of the recent nat cat activity across the Atlantic, Swiss Re has said.
Blog: Are suppliers ready for the GDPR challenges?
The thought of the incoming General Data Protection Regulation may send some into panic but Steve Cook, managing director of Covent Bridge, says suppliers have been ahead of the game for some time through self-imposed compliance.
Brexit: Sompo International to set-up Luxembourg operation
Bermuda-based P&C (re)insurer Sompo International is planning to establish a European headquarters in Luxembourg.
Nat cats could cost MS&AD $972m
MS Amlin owner MS&AD Insurance Group could see losses of over $972m (£734m) as a result of second quarter nat cat losses including hurricanes Harvey, Irma and Maria as well as earthquakes in Mexico.
Insurance firms 'should lower premiums for Tesla cars'
Insurers should lower premiums for Tesla cars owing to increased safety features built into the vehicles, analysts said.
Compre to acquire reinsurance portfolio from Allianz
Compre has agreed to acquire a portfolio of assumed non-life reinsurance business from Allianz for an undisclosed sum.
Perils provides Xavier loss estimate
Zurich-based nat cat data firm Perils has given its initial loss estimate for extra-tropical Cyclone Xavier which hit Germany on 5 October.
Ageas' Bart De Smet on selling the insurance story
Insurance suffers from a bad image whereas it offers a wide range of opportunities, writes Ageas CEO Bart De Smet, urging the industry to tell its story and conquer hearts.
Insurers divest $20bn from coal
Insurers are divesting an estimated $20bn (£15bn) in equities and bonds from coal projects, according to the Unfriend Coal campaign.
Zurich expects commercial rates to increase
Global insurer Zurich is expecting rates to increase for commercial lines helping the firm meet its financial objectives.
Aviva buys Irish insurer for €130m
Aviva has acquired Irish insurer Friends First in a deal worth €130m (£116m).
Ex-ABI chair Paul Evans leaves Axa following restructure
Former chair of the Association of British Insurers, Paul Evans, will leave Axa following a global management restructure.
This Week in Post: Winter wine and Amazon advances
This week I attended a briefing on hostage negotiation skills organised by an underwriting association and a wine tasting hosted by a rehabilitation provider.
80% of EU countries expect increased claims under GDPR
80% of EU jurisdictions expect compensation claims for data protection breaches to increase under the General Data Protection Regulation.
Allianz hit by €529m Q3 nat cat bill
Allianz has been hit with €529m (£468.1m) in losses from natural catastrophes, the company reported in its Q3 results.
‘Strike deal to halt Brexit exodus from City,’ government warned
The government must secure an urgent transition deal for financial services to halt an exodus from the City, a senior peer has warned.
Amazon on a recruitment drive as it takes aim at UK insurance market
Internet-sales giant Amazon is currently recruiting insurance professionals in a bid to disrupt the insurance market in countries throughout Europe.
Generali Q3 profits tumble 9.9% on Dutch sale loss
Generali posted a 9.9% drop in nine-month profits due to a loss on the sale of its Dutch business
Zurich sees P&C decline in EMEA
Zurich’s non-life premiums fell by 7% in EMEA over the past year.
Munich Re posts €1.4bn Q3 loss as nat cats weigh on results
Munich Re has posted a €1.4bn (£1.2bn) loss for the third quarter as the impact of natural catastrophes in the US and Caribbean take their toll on results.
Analysis: Cargo theft on the rise
International cargo theft has a huge impact on the frequency and severity of insurance claims and the problem is increasing.
Ageas UK sees profit again hammered by Ogden
Ageas UK saw its pre-tax profit fall by 56% as it said it still had €5m (£3.8m) to pay in relation to the Ogden rate change.
Analysis: Energy risks: negative energy?
The insurance industry is worried about the energy sector. This already complicated and fragmented industry is getting more complex, especially with pressure from governments to increase production from renewable sources, just as the risks it faces are…