Reinsurance
Ace heads to Kiev
Global (re)insurer Ace has opened an office in the Ukrainian capital Kiev in order to foster relations with the local market and capitalise on the region’s growing economy.
Barbican makes fresh Omega bid
Barbican sent a letter to rival Omega this week outlining a “merger of equals”.
Swiss Re appoints new CEO to replace Lippe
Swiss Re's board of directors has appointed Michel Liès as the new group chief executive officer as of 1 February 2012.
Munich Re suffers multi-million euro loss in ship disaster
Munich Re expects its share of claims from the stricken cruise ship Costa Concordia to be in the mid double-digit million euro range.
Swiss Re names Michel Liès as CEO
Swiss Re global partnerships chairman Michel Liès is to replace Stefan Lippe, pictured, as group chief executive officer effective from 1 February 2012.
Editor's comment: Tempting fate on features
Commissioning editorial copy can be a bit like tempting fate. This week’s broker-focused feature on mergers and acquisitions reflected back over 2011 as its starting point, when first conceived a couple of months ago, with a writer assigned to analyse…
News analysis: Insurers and reinsurers must start to focus on emerging ‘peak’ risks
Natural catastrophes: Will previous ‘cold spots’ be targeted by insurers and reinsurers?
View from the top: Lessons from the East
Catastrophes in Japan showed the resilience and strength of the industry, says Andrew McKee.
Arab Spring: Life during wartime
Continuing civil unrest in the Middle East and North Africa presents a challenge to the property insurance market — especially concerning the limits placed by the war risks exclusion.
Capital adequacy: Alternative finance
With Solvency II just 12 months away, and 2011 an unprecedented catastrophe year, how difficult will it be for insurers to attract equity or secure alternative funding?
Post magazine – 19 January 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Thai cat fund given green light by regulator
The Office of Insurance Commision, Thailand’s insurance regulator, has passed a resolution to establish a 50bn baht (€1.2bn) catastrophe fund for floods, windstorms and earthquakes.
Government cat fund for Thailand
A £1bn Thai catastrophe fund is to be set up by the local government to provide cover for households, small to medium sized enterprises and industrial factories against floods, wind storms and earthquakes.
Munich Re launches green energy risk cover
Reinsurer Munich Re has launched a new insurance product which covers the risk borne by operators that solar module output may, in the course of time, fall below the level guaranteed by a manufacturer which can no longer be held liable under its…
Many countries still vastly underinsured against earthquake
Seismic events caused economic losses of over $276bn in 2010-2011, yet earthquake-prone countries remain underinsured, according to a Swiss Re report.
Catvest launches energy risk model
Catvest Petroleum Services, the specialist risk modelling, quantification and structuring firm for the energy and chemical sectors has launched its energy risk model and industry loss index.
Swiss Re warns quakes remain underinsured
Swiss Re has described the cumulative effects of earthquakes over the past two years as “overwhelming” but says the world’s worst affected areas remain underinsured.
Profits still elusive in growing Indian insurance market
Further growth is anticipated for India’s insurance market but achieving profitability remains a struggle for many insurers, according to a recent AM Best report.
QBE expands Dubai capabilities
QBE has expanded its Dubai branch’s underwriting capability into general liability facultative reinsurance for Middle Eastern and North African clients.
Reinsurance trade groups warn against protectionist regulation
A coalition of reinsurance trade groups has pointed to the record 2011 global insured natural catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions that try to impose limits on global risk…
Middle East Guest Blog: Firm Foundations
In earlier articles I have written that 2012 will be the year of reckoning following the 2008 financial crisis. Insurance is such that it takes time to unfold. Cyclicality is often blamed for the industry’s woes; and even more so in the Middle East…
Russian liability law pushes up insurance costs
Stringent new legislation on the management and insurance of plants dealing in hazardous materials in Russia could have far-reaching consequences for companies operating in the region, according to Marsh.
Aon Benfield appoints new CEO for Greater China
Global reinsurance intermediary Aon Benfield has made two senior additions to its Asia Pacific team.
Ace Russia achieves 'BBB+' IFS rating
The Russian subsidiary of Ace Insurance Company has had its Insurer Financial Strength and national IFS ratings upgraded by Fitch.