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ARC looks to expand remit with launch of outbreak & epidemic cover
22nd September 2017
The African Risk Capacity (ARC) has announced the launch of an outbreak & epidemic (O&E) solution for African governments, in an effort to finance the protection against, and control of, diseases. ARC provides parametric sovereign disaster risk insurance and other support to African nations, and is looking to expand its offerings ... Read the full article
Lloyd’s obtains CFC status and names Casablanca representative
20th September 2017
Lloyd’s has appointed Salah El-Kadiri as its first representative in Casablanca, following its receipt of CFC status by the Casablanca Finance City Authority (CFCA). With its CFC status, Lloyd's managing agents have permission to delegate underwriting authority to intermediaries, third party cover-holders, or service companies established in the CFC. El-Kadiri said; “I ... Read the full article
AIG places first Shariah-compliant M&A insurance policy in MENA
19th September 2017
American International Group, (AIG), has placed the first Shariah-compliant insurance policy in the Middle East and North Africa region (MENA) for merger and acquisitions activity, advised by global law firm Norton Rose Fulbright. In partnership with Shariah-compliant managing general agent, Cobalt Underwriting, AIG offers a range of Islamic insurance solutions for ... Read the full article
Technology and government initiatives key to emerging markets: Swiss Re
10th September 2017
Innovative use of insurance platforms, technology, and government initiatives have been key to getting markets off the ground in emerging regions, said Swiss Re Chief Economist Kurt Karl and CEO of Asia reinsurance, Jayne Plunkett, at the reinsurance industry's annual meeting in Monte Carlo. While governments are often the catalyst for ... Read the full article
Marsh announces new management structure & names key senior executives
8th September 2017
President and Chief Executive Officer of Marsh, John Doyle, has announced the addition of Global Risk & Digital and Global placement specialities units as well as new appointments to the firm's executive management team as part of a restructuring effort. Doyle commented; “this is an exciting time in our industry as ... Read the full article
Insurers in Nigeria advised against reliance on brokers
5th September 2017
The tendency for most insurance brokers to focus on big ticket government business is responsible for the low level of insurance penetration in the country, the Executive Vice Chairman of Insurance Brokers of Nigeria, (IBN), Prosper Okpue, said in an interview with Financial Vanguard. The IBN executive ... Read the full article
EY hires Barclays Deputy Head of Insurance as a Director
5th September 2017
Dan Broome has joined EY from Barclays Bank as a Director to support the development of an additional insurance sector offering as part of its Financial Services Debt Advisory division. EY launched its Financial Services Debt Advisory team in September 2015, which now consists of seven people, and the appointment of ... Read the full article
Top 50 Global Reinsurance Groups
4th September 2017
Top 50 Global Reinsurance Groups This Top 50 Global Reinsurance Groups directory is based on research data from rating agency A.M. Best. Listing the top reinsurers in the world, this directory provides a simple way to analyse the world's top reinsurance companies. The global reinsurance groups featured are ranked by unaffiliated gross reinsurance ... Read the full article
Ghana Re announces new board members
1st September 2017
Ghana's state-owned reinsurer, Ghana Re, has sworn in new board members as Ghana's Ministry of Finance re-establishes the board as part of a drive to narrow the economy's investment gap with national savings. Board members now include The Board Chairman, George Otoo, and George Mensah, Francis Sapara Grant, Marian Mensah, Jennifer Owusu, and ... Read the full article
SCOR opens non-life reinsurance office in Kenya
24th August 2017
French reinsurance firm SCOR is opening a new SCOR Global P&C SE representative office focusing on non-life reinsurance in Nairobi, Kenya. Following up on an initial approval granted in April 2016, the Insurance Regulatory Authority of Kenya (IRA) has now confirmed that it approves the opening of a SCOR Global P&C ... Read the full article
Russia’s national reinsurer approved to enter Egyptian specialty market
24th August 2017
The Russian National Reinsurance Company (RNRC) has received approval from the Egyptian market watchdog to operate as a foreign reinsurance company in the local specialty market. The approval means that RNRC is now included in the Egyptian local official register of the foreign reinsurers, and the entry is a continuation of ... Read the full article
Zimre Holdings to dispose of assets to fund growth strategy: Reports
23rd August 2017
Zimre Holdings Limited has reportedly started negotiations to dispose some of its assets in order to fund its future growth plans, according to The Herald Business. According to industry reports, the financial services group announced last week that it has started negotiations over the disposal of certain assets as the company ... Read the full article
Kemah Capital signs underwriting agreement with Berkshire Hathaway companies
21st August 2017
Specialty lines managing general agency (MGA) Kemah Capital has entered into an agreement with members of the Berkshire Hathaway group of re/insurance companies that will see it underwrite a portfolio of business for the firms. The underwriting agency agreement will allow Kemah Capital to write a varied portfolio on behalf of ... Read the full article
Sompo Canopius adds credit & political risk underwriter
16th August 2017
Sompo Canopius AG has continued to strengthen its credit & political risk team with the appointment of Stephen Pike as credit & political risk underwriter. Pike joins global specialty insurance and reinsurance firm Sompo Canopius in October and will report to Bernie de Haldevang, global head of specialty at the re/insurer. He ... Read the full article
GIC Re plans ambitious international growth including Lloyd’s syndicate
10th August 2017
Indian state-owned General Insurance Corporation (GIC Re) has announced ambitious plans to diversify its revenue base into the life segment and expand business lines throughout the global market, in a red herring prospectus. The firm recently filed an Initial Public Offering (IPO) constituting 14.22% of the firm’s post-offer paid-up equity share ... Read the full article