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Allianz (AGCS) takes a new strategic direction
1st July 2020
Allianz Global Corporate & Specialty SE (AGCS), the industrial insurer of the Allianz Group, has announced the details of a new comprehensive transformation program designed to regain profitability and market leadership, called "New AGCS." On June 22nd, the company announced the realignment of its Board of Management, explaining that from ... Read the full article
Trust Re to cease underwriting from Labuan & Morocco
25th June 2020
Bahrain domiciled reinsurer Trust Re has announced that it plans to cease underwriting activities from its Labuan and Morocco branch offices, instead centralising all operations to its head office. The move comes as part of a new strategic plan that will also see the company stop underwriting both Facultative Aviation and ... Read the full article
Michael Rüsch to lead Switzerland at Swiss Re Corporate Solutions
24th June 2020
Swiss Re Corporate Solutions (SRCS), the commercial insurance arm of reinsurer Swiss Re, has announced the appointment of Michael Rüsch as Country Head Switzerland, effective 1 October 2020. He will be responsible for managing Swiss Re Corporate Solutions' strategy, development and performance in the Swiss commercial insurance market. Rüsch has more than ... Read the full article
London Market adds modern slavery clause for marine cargo
22nd June 2020
Fidelis, Aon and Marsh have developed a new marine cargo clause for the London Market that is designed to keep the products of modern slavery out of the export supply chain. The group of brokers and insurers say the clause will make it a condition of marine cargo policies that the ... Read the full article
Allianz (AGCS) SE reorganises Board roles
22nd June 2020
Allianz Global Corporate & Specialty SE, the industrial insurer of the Allianz Group, has announced a realignment of its Board of Management, focusing on responsibilities for regions and markets as well as for Underwriting and Claims functions. Effective from July 1, the number of Chief Regions & Markets Officers (CRMO) on ... Read the full article
AXIS Re welcomes two new underwriters to team
19th June 2020
AXIS Re, the reinsurance business segment of AXIS Capital, has announced the addition of two new underwriters. Joachim Johansson joins as a Casualty Underwriter for its Europe, the Middle East and Africa Latin American team. He joins from Zurich, where he served as an MGA Actuary, and brings close to 20 years ... Read the full article
Lloyd’s apologises for slavery links
18th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has apologised for its links to the slave trade in the 18th and 19th centuries, and announced that it plans to pay reparations via donations to BAME charities. Lloyd’s released a statement condemning “the indefensible wrongdoing that occurred during this period” after its role ... Read the full article
German gov assists ARC members with €19mn COVID-19 support programme
18th June 2020
In light of the ongoing COVID-19 pandemic, the German government has committed to assume premium payments of approximately €19 million for the drought insurance offered by the African Risk Capacity (ARC). In a recent video message, Maria Flachsbarth, Parliamentary State Secretary at the German Federal Ministry for Economic Cooperation and Development ... Read the full article
Crawford & Company sells stake in Lloyd Warwick International to McLarens
16th June 2020
Crawford & Company, a provider of claims management solutions, has agreed to sell its 51% stake in Lloyd Warwick International to global independent insurance services provider McLarens. LWI is a global multi-disciplined loss adjusting and claims management company with a team of nearly 50 adjusters providing a range of engineering, forensic ... Read the full article
HDI Global SE reshuffles board
12th June 2020
Primary commercial specialist HDI Global SE has announced a series of key changes to its board. Dr Mukadder Erdönmez has been appointed by the Supervisory Board as the Board Member with responsibility for the Liability Division. Erdönmez will take over responsibility for the Liability Division from Jens Wohlthat who now wishes to ... Read the full article
Zurich implements new legal panel for large & complex claims in EMEA
10th June 2020
Zurich Insurance Group has launched a new legal panel that will be tasked with providing advice on the management of large and complex claims across the Europe, Middle East and Africa (EMEA) region. The legal panel has been implemented to ensure greater transparency and consistency of legal services for claims, to ... Read the full article
Ibrahima Cheikh Diong elected as ARC Group Director General
10th June 2020
The Conference of Parties (CoP) of the African Risk Capacity (ARC) has elected Ibrahima Cheikh Diong, of the Republic of Senegal as the new ARC Group Director General, for a term of four years. Diong is Founder and Chairman of the Dakar-based Advisory firm, Africa Consulting and Trading (ACT Afrique Group), ... Read the full article
DIFC premium growth reaches new high in 2019
8th June 2020
The Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and Southeast Asia, has revealed that the sector grew by 17.4% in 2019. Annual growth of more than 17% represents the highest volume of premiums ever written in the marketplace, reinforcing the DIFC's position as a ... Read the full article
PCS designates MN riots a catastrophe, warns of loss potential
1st June 2020
Property Claim Services (PCS), a Verisk Analytics business, has officially designated the riots in Minneapolis, Minnesota (MN) as a catastrophe, and warned of the potential for large industry losses as unrest threatens to engulf other states. Peaceful protests began in Minneapolis last week after the police killing of unarmed African American ... Read the full article
NOAA forecasts above-normal Atlantic hurricane activity
22nd May 2020
Forecasters with the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Centre have said there's a 60% chance of an above-normal Atlantic hurricane season, which officially starts on June 1st, 2020. Analysis conducted by the NOAA reveals that multiple climate factors indicate that an above-normal level of activity is most likely ... Read the full article