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Energy, MENA, Offshore, Onshore, Regulation

Swiss Re in DIFC move

Swiss Re Corporate Solutions has announced that it has received a licence from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).

Aviation, Brokers, MENA, Renewals, Risk Management

Underwriters must do more to fill spaces in satellite coverage

Delegates at the World Space Risk Forum in Dubai were told the re/insurance market could be doing a lot more to meet the needs of the world’s satellite operators.

Brokers, Marine, MENA, Piracy

Piracy back on the agenda with new warning and new product

As the level and intensity of piracy attacks in and around the Gulf of Aden saw a British couple and their yacht seized, broker Aon has issued a urgent warning to shipowners and underwriters while reinsurance brokers RFIB has revealed a new protection initiative.

Brokers, Energy, MENA, Rates, Risk Management

Marsh to host National Oil Companies as price fluctuations spell concern

The Chairman of Broker Marsh’s energy practice has warned that National Oil Companies need to prepare for ongoing price volatility as the global economy emerges from recession.

Broking, Energy, MENA, Rates

Marsh predicts softening energy rates in 2010

A resurgent level of capital and with it increased competition is set to drive down premiums across the energy market in 2010 according to broker Marsh.

MENA, Rates, Regulation, Risk Management

Insurers warned they may be told to exit Iranian risks

A leading political risk analyst has warned that global underwriters could be dragged into the front line of the United States’ ongoing dispute with Iran over its nuclear ambitions.

Brokers, Marine, MENA, Piracy, Risk Management

New anti piracy scheme gets insurer backing

London market insurer Hiscox is to its policyholders free membership of the latest initiative aimed mat combating the threat of piracy

Facultative, Financial Institutions, Lloyd's, MENA, Treaty

Reinsurance JV to be launched in Bahrain

The growing Middle East reinsurance market has a new underwriter with the announcement by one of the region’s leading reinsurers that it is to form a joint venture with Lloyd’s group Hardy Underwriting.

Liability, Lloyd's, MENA, Political Risk, Risk Management, Terrorism

Current political risks demand new type of coverage

The political risk market is facing a need to re-evaluate its products for the coverage of “pure political risk” to meet client demand for greater efficiency and transparency.

Aviation, Marine, MENA, Rates

Specialty operation opens in Dubai

The Industrial insurance unit of German giant Allianz, Allianz Global Corporate & Specialty (AGCS), is to open a new regional hub office it has announced.

Claims, Liability, Losses, MENA, Terrorism

Terror fears and the Arab Spring have clients rushing for cover

 With the deaths of three leading members of the jihadist terror organisation al Qaeda killed within the space of six weeks and the ongoing civil uprising across the Middle East and North Africa, underwriters are facing renewed demand for coverages at a time when the risk environment is ever changing.

Liability, Lloyd's, MENA, Political Risk, Terrorism

The Arab Spring and Why Nobody Saw It Coming

With the Arab spring revolution taking place in the Middle East, elections soon to take part in South East Asia and the repercussions from the death of Osama Bin Laden finally coming to a head, Asian correspondent Hafidz Baharom  looks at the current state of the political risk market for the Middle East and North Africa (MENA).

Claims, Marine, MENA, Piracy, Risk Management

Industry fires broadside over piracy

The threat of piracy continues to grow and the re/insurance market has been left to face a number of challenges which may lead to a situation where the very products it offers will need to be adapted.

IUMI, Losses, Marine, MENA, Piracy, Risk Management

Are insurers getting gun ho over piracy?

There is a growing disconnect between the views across the insurance and reinsurance markets over the thorny question of providing armed guards on vessels in piracy-prone waters.

Claims, Losses, Marine, MENA, P&I

Reports of torture mark new twist to piracy threat

Keel hauling was a punishment meted out to sailors in the dark days of naval history but a new breed of Somali piracy gangs are using it and other torture measures to speed up ransom payment maritime associations have warned. As Jon Guy found out it has made the call to reinsurers to lobby for governmental action on piracy ever more urgent as the death and injury numbers of crews in captivity has continued to rise this year. 

Liability, MENA, Political Risk

Political risk initiative enables underwriters to better populate risk data

Reinsurers have long relied on models for the calculation of natural peril exposures and now a new systems claims there is now a way to do the same for political violence and terrorism risk.

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