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News
Helvetia acquires majority stake in Spain's Caser for €780m
The Swiss insurer will issue hybrid bonds and equities to finance the purchase
FCA promotes Christopher Woolard to interim CEO
Woolard will replace Andrew Bailey who will become governor of the Bank of England in March
Insurance claims from Australia's catastrophic summer pass A$2bn
Hail losses reach half the size of bushfire losses
Aon and Brit back 'climate-friendly' data standard
The initiative aims to help insurers develop products around climate change
Share practical insights at InsuranceERM's IFRS 17 conference
The second IFRS 17 conference will take place in London on 13 February
New Zealand life insurers face heavy criticism
The insurance regulator highlighted the sector's declining aggregate solvency ratio and high costs
Bank sale pushes Gjensidige to record profits
Norwegian insurer still "actively scoping" for acquisitions
India postpones implementation of IFRS 17 equivalent: reports
Effective date will be decided after the standard is finalised, says Irdai
Nat cats in 2019 hit insurers for $71bn - Aon
The estimate is a notable increase on earlier predictions from Swiss Re and Munich Re
Scor appoints Chantal Bond as head of actuarial, Apac
Bond was highly commended in last year's InsuranceERM awards
Hong Kong's PICC P&C predicts net profit jump up to 60%
PICC P&C renews ceding arrangement with PICC Re amid positive outlook for region's reinsurers
Axis expects nat cat losses of $140m in Q4 2019
Typhoon Hagibis the main contributor to losses
Insurtech weekly: MMV; Insurify; Slice; Clara Analytics; State Farm Ventures
InsuranceERM rounds up the latest developments in the fast-moving world of insurtech
Chaucer promotes James Wright to chief risk officer
Wright succeeds Penny Shaw who will leave Chaucer Group
Australian hailstorms cost insurers A$320m
Insurance Council adds hail damage to nationwide fires as second concurrent catastrophe
AAE publishes paper on professional judgement by actuaries
The paper includes a self-assessment questionnaire to help actuaries
China Life expects net profit to rocket in 2019
Investment returns have driven the surge
Pool Re's terrorism knowledge hub appoints risk chief
Chris Medhurst-Cocksworth has previously held positions in the British armed forces and Marsh
German insurers slam regulatory 'stranglehold' on economy
GDV chief economist Klaus Wiener calls for a principles-based system
Australia bushfire insured losses edge A$1.5bn
General insurers promise to pass on savings from a bushfire clean-up plan
US policymakers backwards in embracing insurer climate models
Insurance has key role in educating on climate change, say industry participants in New York
Motor insurer Hastings warns of profit fall
The UK firm has been impacted by rising claims costs
Beijing to abolish foreign ownership cap for US life & health insurers
Chubb welcomes deal terms while deal document might have let slip China Re US expansion plans
Moody's predicts "materially" lower 2020 solvency for German life firms
Effects of falling rates will outweigh cuts in policy bonuses, rating agency says
Thai life insurer signs up FIS for IFRS 17
It marks the vendor's second IFRS 17 collaboration with a Thai insurer in the past two months
Don't touch risk-free rate curve in Solvency II review, Insurance Europe urges
CROs, CFOs and Insurance Europe disappointed by several proposals from Eiopa's consultation
Bank of England publishes 2020 Libor transition plan
Sterling Libor will "cease to exist" after 2021
Denmark's Gefion ordered not to expand its scope of business
Danish regulator warns Gefion has "serious liquidity problems"
Ultimate Risk Solutions to work with MSG Global
Risk modelling software vendor ties up with global IT service firm
India approves 33 insurtech proposals for regulatory sandbox
Ventures belonging to Bupa, Allianz and AIG will use the insurtechs
Analysis
China's coronavirus outbreak could hit insurers severely
Insurance experts talk to Ronan McCaughey about the mortality, operational and economic losses the deadly virus poses for the re/insurance industry
Zurich's Peter Giger: denser regulation is creating more pressure
Peter Giger began his third spell with Zurich last September after taking over as its group chief risk officer (CRO). He talks to Paul Walsh about the regulatory pressures the Swiss insurer is facing, and the differences between his current and previous roles
Flood, climate, capital: NAIC president Ray Farmer's agenda for 2020
Ray Farmer is the new president of the National Association of Insurance Commissioners. In this Q&A with Sarfraz Thind, he talks about flood coverage, international regulation and how he intends to raise climate awareness
Three emerging risks for the 2020s
Andrew Smith, chief risk officer at Qatar Re, discusses three less-discussed risks for insurers that are set to emerge over the next decade
Politics and sluggish innovation become bugbears for risk chiefs
InsuranceERM surveyed eight senior risk officers to assess the highs and lows of 2019 as well as what they are hoping for in the next 12 months. Paul Walsh examines the key findings
Hong Kong insurers eye Greater Bay Area opportunities
Hong Kong fancies itself as the risk management hub of the Greater Bay Area, thanks to a young but dynamic regulator and its technological knowhow. Vincent Huck reports from the Asian Insurance Forum
IFRS 17: twists and turns in the home straight
Cintia Cheong examines stakeholders' preliminary views of the IASB's redeliberations and previews the final stages of development of the insurance contracts accounting standard
Making scenario planning meaningful, effective and manageable
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An expert panel at InsuranceERM's Regulation & Risk Management conference on 3 December in London shared their advice on stress and scenario planning, an activity that has become increasingly important for risk teams as they play a greater role in business strategy
Zurich's Eugenie Molyneux: diversity is key for today's CROs
Eugenie Molyneux, chief risk officer for commercial insurance at Zurich, tells Cintia Cheong about the firm's approach to climate change and why diversity is important for the modern risk manager.
Eiopa's Gabriel Bernardino: climate disclosures will become mandatory
Gabriel Bernardino, chair of the European Insurance and Occupational Pensions Authority (Eiopa) joined InsuranceERM's Insurance Risk and Capital EMEA conference earlier this month. In a Q&A with Christopher Cundy, he answered questions about climate change, the Solvency II review and conduct risk