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Brit focuses on diversity in London insurance market
8th October 2020
Specialty re/insurer Brit has announced a new partnership with the African Caribbean Insurance Network (ACIN), which aims to improve ethnic representation across the London insurance market. The ACIN was formed in 2018 with the aim to boost black and minority ethnic representation within the insurance space, whilst also enhancing cultural competence ... Read the full article
Unemployment tops infectious diseases as main concern for business execs: WEF
8th October 2020
Unemployment has topped out infectious diseases as the main concern for business executives globally, according to a World Economic Forum survey. Fiscal crisis was the top concern in 2019 but came third in this year's survey, which included responses from business leaders in regions including East Asia and the Pacific, Eurasia, Europe, Latin ... Read the full article
Chubb names Head of Claims for Overseas General Insurance
8th October 2020
Global re/insurer Chubb has announced the appointment of Nandini Mani as Executive Vice President, Claims for Overseas General Insurance, the company's international general insurance business. Mani joined Chubb in 2015 and was previously Deputy General Counsel and Head of Global Litigation. Prior to this, she served as Managing Counsel at BNY Mellon ... Read the full article
Rideshare insurtech Buckle makes two senior appointments
7th October 2020
Rideshare insurance company Buckle has announced two new additions to its senior leadership team. Andrew Rear has been appointed Chairman of Buckle’s Board. He will continue working as Chief Executive Officer (CEO) of Digital Partners, a Munich Re company. Rear joined Munich Re in 2010, leading the Asia, Africa, and UK life ... Read the full article
Nigeria has potential to develop insurance sector: AM Best
7th October 2020
AM Best has released a report showing how Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy, gives it potential to significantly develop its insurance sector. In addition, insurance penetration which included a market gross written premium (GWP) as a percentage of ... Read the full article
SCOR Global P&C reveals organisational changes and promotions
5th October 2020
SCOR Global P&C has announced a number of changes and promotions as it looks to deepen its client relationships and become more agile to faster adapt to the evolutions of markets. In a message to clients last week, SCOR Global P&C Chief Executive Officer (CEO), Jean-Paul Conoscente, announced a number of ... Read the full article
ARC eyes inwards reinsurance after securing first industry rating
2nd October 2020
African Risk Capacity Limited (ARC), the commercial subsidiary of the African Risk Capacity Group (ARC Group), has secured an IFS 'BBB+' with Stable Outlook from Fitch, allowing the firm to gain access to new business by taking on inwards reinsurance. ARC’s Chief Executive Officer described the industry rating as an important ... Read the full article
Chubb hires Casualty Manager for MENA region
1st October 2020
Global re/insurer Chubb has announced the appointment of Konstantin Tretiakov as Regional Casualty Manager for the Middle East and North Africa (MENA) region. Tretiakov has 18 years of industry experience and previously served as Chubb’s Casualty Manager for Russia & CIS. He has held a variety of roles in Russia, including as ... Read the full article
Sub-Saharan reinsurance market challenged by tough operating conditions: AM Best
30th September 2020
Competition and rising acquisition costs within the reinsurance markets of sub-Saharan Africa has led to a gradual deterioration in the performance of market participants, according to an AM Best report. AM Best notes that the operating environments across sub-Saharan Africa remain difficult for domestic and international companies. Many of the region’s markets face double-digit ... Read the full article
ARC partners with insurtech Pula on agric index insurance products
29th September 2020
The African Risk Capacity Limited (ARC Ltd), a commercial subsidiary of African Risk Capacity Group (ARC Group), has signed a partnership agreement with Pula to help provide agriculture index insurance products to the continents' farmers. African farmers are exposed to a range of climate risks including drought, excessive rainfall, pests and ... Read the full article
Allianz announces key changes to board
25th September 2020
Global insurer Allianz has announced a series of key changes to its board of directors, including the addition of Allianz Technology SE Chief Executive Officer (CEO), Barbara Karuth-Zelle. She has been appointed to the board of Allianz in charge of Operations and IT. Effective 1 January 2021, she succeeds Christof Mascher, who ... Read the full article
Swiss Re finds major economies at risk from biodiversity decline
24th September 2020
A new report from Swiss Re Institute claims that one fifth of countries worldwide are at risk from ecosystem collapse and biodiversity declines, which threaten some of the major global economies. The reinsurer says that more than half of global GDP, equal to $41.7 trillion, is dependent ... Read the full article
Swiss Re takes pride in pushing the boundaries of insurability: CEO Mumenthaler
23rd September 2020
Christian Mumenthaler, the Chief Executive Officer (CEO) of reinsurance giant Swiss Re, is proud of the company's efforts to make the world more resilient amid a "super frustrating" and expanding global protection gap (disparity between economic and insured losses post-event). Mumenthaler recently spoke with our sister publication ... Read the full article
Continental Re acquires 100% ownership of Botswana subsidiary
14th September 2020
Following its recent acquisition of a minority 40% stake in Continental Reinsurance Ltd (Botswana), Continental Reinsurance Plc now holds 100% of the issued ordinary share capital in the subsidiary. Continental Re says the acquisition entrenches its stature as a strong pan-African reinsurance brand and bolsters its commitment to delivering value to ... Read the full article
Continental Re secures $71.7mn gross premium income in H1
10th September 2020
Pan-African reinsurer Continental Reinsurance plc has reported a gross premium income of $71.7 million for the first half of 2020. This figure represents a 27% growth over the same period in 2019. Underwriting profit for the period stands at $6.9 million, an increase of 442% from the prior year period. Investment and other ... Read the full article