Tuesday, 01 September 2015

 


Zurich pitches £5.6bn for RSA but counter offers likely say analysts

RSA's share price leapt at news that Zurich has made an informal offer for the insurer of 550 pence per ordinary share that values the company at roughly £5.6bn.

Companies urged to be vigilant after Thai bombing

The fatal terrorist bombing in Bangkok last week is unlikely to prompt a reaction from terrorism insurers, but companies should be vigilant until more is known about the perpetrators, experts say.

French risk managers demand more effort from insurers on BI

The European and international insurance market has made progress on business interruption covers following the crisis brought about by the Japanese tsunami and Thai floods in 2011. But, based on comments made during CRE's annual European Risk Frontiers survey, risk managers in France are clearly still not happy with what the market has to offer and want to see broader cover and a more sophisticated approach to this critical line of business.

No panic for risk managers over stock crash, but watch those reserves

European risk and insurance managers need not panic about the security of their insurance programmes as a result of recent volatility in global stock markets because insurers and reinsurers are well positioned to withstand the current crisis.

Insurers concerned by 'gold plating' and last minute requirements of Solvency II

European insurers are 'extremely concerned' about implementing certain aspects of Solvency II in time for its January 2016 deadline citing 'gold plating' by member states and late adoption by the EC of reporting and disclosure requirements as top concerns, according to a survey by Insurance Europe.

Workers' deafness claims reach all time high in UK

Noise Induced Hearing Loss (NIHL) claims are at an all time high in the UK leaving companies and insurers increasingly exposed to costly court cases and compensation payments.

Corporate round-up

ArgoGlobal launches European SME platform with immediate German D&O focus, AGCS appoints senior marine risk consultant and RIMS announces its first Latin American conference.

Tianjin port blast hits supply chains and insurers

The series of devastating blasts that ripped through the Chinese port city of Tianjin last week have caused significant damage and supply chain disruption, landing Chinese and western insurers with a sizable bill and affecting many companies worldwide.

Commercial insurance market softens for ninth consecutive quarter

The relentless soft insurance market shows no signs of abating as commercial rates continued to fall across the globe in most major lines of business during the second quarter of 2015, according to stats from Marsh.

US coastal exposures continue to rise ten years after Katrina

A decade after Hurricane Katrina smashed into New Orleans, experts predict hurricane exposures will rise for US coastal cities.

Concerns remain for captives under Solvency II but risk management benefits embraced: AM Best

Specialist insurers such as captives are 'not well-catered for' by Solvency II's standard formula which is adding to the need for European captives to change the way they are managed, according to a new report by AM Best.

EXOR wins battle to take over PartnerRe

EXOR, the Italian investment group, finally appears to have won its increasingly acrimonious battle with AXIS Capital to acquire Bermuda reinsurance group PartnerRe following the signing of a definitive merger agreement to acquire all of the company's outstanding common shares.

Half-year disaster losses of $16.5bn far below average: Swiss Re

Insured losses from disaster events in the first half of 2015 stood at $16.5bn, well below the 10-year average of $29bn, according to preliminary estimates by Swiss Re.

Corporate round-up

HDI-Gerling teams with telematics firms, ACE launches website to boost health and safety risks in UK and Ireland, IRB Brasil Re names Cardoso as new president and Charles Taylor Adjusting expands London aviation team.

Cyber risk, nat cats and regs top 'Banana Skins' for non-life insurers

Cyber risk is the number one risk facing the non-life insurance industry over the next few years followed by nat cats and regulation, according to the Centre for the Study of Financial Innovation's (CSFI) and PwC's Insurance Banana Skin 2015 survey.

Human rights benchmarking system launched to drive 'race to the top'

A group of leading corporate investment and interest groups have launched a consultation process to help create a corporate human rights benchmarking system that will rank the top 500 globally listed companies on their human rights policy, process and performance.

Bridging the gap to the board

UK risk and insurance managers face some big challenges and opportunities as boards finally wake up to risk, according to Airmic CEO John Hurrell.