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Commercial lines

China imposes $18m fine on insurance firms for price-fixing By IBR Staff Writer
The Chinese government agency National Development and Reform Commission (NDRC) has imposed a fine of around CNY110m ($18m) on 22 insurance firms over price monopoly.
General Insurance > Commercial lines > News
Stay Water-worthy with GetMyBoat boat rental insurance By IBR Staff Writer
GetMyBoat, the world’s leading peer-to-peer and charter marketplace, has launched a first-of-its-kind, global boat rental insurance product. With coverage that is offered to boaters who book through or use any service or platform, GetMyBoat is proud to lead the way and bring customized coverage to the docks.
General Insurance > Commercial lines > News Willis to acquire IFG’s Irish pension and financial advisory businesses By IBR Staff Writer
Willis Ireland is set to acquire Irish pension and financial advisory businesses from IFG Group, for an undisclosed amount.
General Insurance > Commercial lines > News
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Global catastrophe-related insurance losses stand at $21bn for H1 2014
By IBR Staff Writer
According to preliminary sigma estimates, total economic losses from natural catastrophes and man-made disasters reached $44bn in the first half of 2014. The global insurance industry covered $21bn billion of these losses, down from USD $25bn in H1 2013 and lower than the average first-half year loss of the previous 10 years (USD $27bn). In all, more than 4 700 people lost their lives in disaster events in the first six months of this year.
General Insurance > Commercial lines > News
Munich Re collaborates with Steadfast to acquire insurer Calliden
By IBR Staff Writer
Munich Re insurance subsidiary Great Lakes Australia (GLA) has collaborated with broker network Steadfast Group to acquire Calliden Group.
General Insurance > Commercial lines > News
Enstar to acquire Companion Property and Casualty Insurance for $218m
By IBR Staff Writer
Bermuda-based Enstar Group has signed an agreement with US-based Blue Cross and Blue Shield to acquire Companion Property and Casualty Insurance Company for around $218m.
General Insurance > Commercial lines > News
Chubb's new crime insurance coverage helps protect firms from impostors
By IBR Staff Writer
The Chubb Group of Insurance Companies has created a crime insurance endorsement to help protect companies from an increasingly prevalent type of fraud.
General Insurance > Commercial lines > News
Delta Lloyd plans to bid for SNS Reaal's insurance arm
By IBR Staff Writer
Netherlands-based insurer Delta Lloyd is reportedly planning to acquire the insurance operations of financial services company, SNS Reaal.
General Insurance > Commercial lines > News
SCM Insurance Services acquires Granite Global’s property and casualty businesses
By IBR Staff Writer
SCM Insurance Services has acquired property and casualty (P&C) businesses of Granite Global Solutions, for an undisclosed amount.
General Insurance > Commercial lines > News
Palomar Specialty Insurance expands into new states
By IBR Staff Writer
Palomar Specialty Insurance Company, established in February 2014 as a specialty catastrophe insurer, is now licensed to write residential and commercial insurance in 14 states.
General Insurance > Commercial lines > News
Apollo plans to acquire Portuguese insurer Tranquilidade for €200m
By IBR Staff Writer
US-based private equity firm Apollo Global Management is talking with Portuguese bank Banco Espirito Santo (BES) to acquire insurer Tranquilidade.
General Insurance > Commercial lines > News
Allied World to acquire RSA’s Hong Kong and Singapore businesses for $215m
By IBR Staff Writer
Allied World Assurance Company has signed an agreement with Royal & Sun Alliance Insurance (RSA) to acquire its Hong Kong and Singapore operations for around $215m.
General Insurance > Commercial lines > News
ACE launches suite of professional indemnity insurance wordings for media professionals
By IBR Staff Writer
ACE Group launched a suite of professional indemnity (PI) wordings aimed exclusively at media companies domiciled outside the USA and Canada as it continues to expand its specialist capabilities for this growing sector of the economy.
General Insurance > Commercial lines > News
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