Europe
Hannover Re completes acquisition of Lloyd's syndicate
German reinsurance giant Hannover Re has completed the acquisition of the UK holding company Argenta Holdings.
FSCS refunds £8.3m to Gable policyholders
Premiums worth £8.3m have been returned to former policyholders of Gable Insurance through the Financial Services Compensation Scheme.
Reinsurance rates fall in June and July renewals
Reinsurance market pricing has maintained the downward trend seen at the January and April renewals, despite first quarter deterioration for many reinsurers’ results, according to Willis Re.
Insurers face $22bn bill from first half nat cat losses, says Aon Benfield
The $22bn (£16.9bn) in insurer payouts from first half nat cat losses is 35% lower than the ten year average of $35bn according to Impact Forecasting - Aon Benfield's catastrophe modeling team.
Cupitt promoted at McLarens
Global loss adjuster McLarens has promoted Australia marine manager John Cupitt to head of the company's global marine division.
Firms that have made Brexit contingency plans may face difficulties, FCA says
The Financial Conduct Authority said Brexit contingency plans of some companies could cause them "difficulties" in future.
Blog: Making life-or-death decisions for your customer
Could you and your providers be trusted to come up with an innovative solution to save your customer's life, asks Chris Knight, head of corporate services, CEGA Group.
Covered agreement given the go ahead from Trump administration
The Trump administration has announced that it will honour the covered agreement, which aims to create uniform rules dealing with insurance and reinsurance transactions between the United States and European Union.
Week in Post: Brexit, redundancies and consolidation
This week we saw the ‘Great Repeal Bill’ being introduced to Parliament, a key waystone on the long and arduous journey to leaving the European Union.
EU watchdog warns against 'letter box' post-Brexit hubs
Europe’s insurance watchdog has warned firms and regulators against setting up post-Brexit shell companies that delegate operations to parents in London.
Beazley gets green light for Dublin subsidiary
Specialist insurer Beazley has received the go ahead to convert its Dublin-based reinsurance company into an insurance company.
Interview: Grenfell Tower insurer reveals UK expansion plans
It is estimated that the Grenfell Tower fire could result in claims of up to £50m. However, the carrier responsible for insuring the building said that its expansion plans for the UK remain undimmed.
Renewable energy surge results in new team for Cunningham Lindsey
Cunningham Lindsey has launched a team in response to greater demand for offshore renewable wind energy in the Netherlands.
Ageas's Bart De Smet on why insurers don't need start-ups to innovate
The hype around insurtech start-ups should not overshadow the in-house innovations coming from incumbent insurance companies, writes Ageas’s CEO Bart De Smet, defending the ‘internal incubator’ model.
XL Catlin names Ochsenkuehn head of global programs
XL Catlin has appointed Sonja Ochsenkuehn as head of global programs.
Life is a breach: What the GDPR changes for insurers
Insurers will face stricter data rules but these may help them grow the cyber market, write Mark Estafanous and Kate Payne, solicitor and partner at Elborne Mitchell.
Government to buy insurance against disasters in developing countries
Prime Minister Theresa May has announced plans to use the expertise of the City of London’s insurance market to develop insurance markets in developing countries.
Government cracks down on false holiday sickness claims
The government has launched a crackdown on bogus holiday sickness claims.
GDPR ‘a shot in the arm’ for cyber insurance
The incoming EU data protection regulation is likely to be a “shot in the arm” for the cyber market, resulting in a marked growth in cyber insurance revenues, according to AM Best.
Grenfell Tower blaze could result in claims of £50m
The Grenfell Tower blaze could result in property and liability claims of £50m, the Norwegian carrier responsible for insuring the building said.
Marsh and Aon offices visited in connection to Irish motor competition investigation
Marsh and Aon are among the brokers visited by the European Commission as part of its motor investigation in Ireland.
Ex-Swiss Re boss Michel Liès to be Zurich chairman
Former Swiss Re CEO Michel Liès has been proposed as the chairman for Zurich from next year.
Analysis: London’s global reinsurance market share falling as rivals take a bigger slice
London Matters Report highlights key areas of concern
When cyber gets physical
Recent events such as the Wanna Cry ransomware attack and British Airways’ computer outage have helped to drive sales of cyber insurance, but there are concerns that a significant part of the risk is being overlooked