Pol risk, credit & surety

German carrier Allianz will squeeze out remaining shareholders in Paris-listed Euler Hermes and delist the trade credit insurer on Friday (27 April).

The London market has placed the first political risk policy through electronic placement system Placing Platform Limited (PPL).

Insurers with significant terrorism risks must focus on stress testing, limits management and reinsurance as the possible expiration of the Terrorism Risk Insurance Program Reauthorization Act (Tripra) looms, AM Best said in a report today.

Cargill's credit insurers had no losses after the bankruptcy of the International Bank of Azerbaijan (IBA) last year, The Insurance Insider understands.

Swiss Re has restructured its specialty reinsurance management structure, reducing the number of divisions from five to two, The Insurance Insider can reveal.

Markel has split its trade credit operation into three sub-divisions.

Five trade credit brokers are set to leave Marsh in Manchester and Birmingham, The Insurance Insider understands.

Private equity-backed London market broker Parker Norfolk and Partners has lured Peter Dalton, the chief risk officer of Besso, to its team, The Insurance Insider understands.

UK trade credit claims rose by 7 percent in 2017 to £225mn ($314.3mn), the most since the height of the recession in 2009, Association of British Insurers (ABI) data shows.

Barclays has brought the trade credit MGA Nimbla into its accelerator, investing $120,000 in the InsurTech business.

CNA Hardy is proposing to withdraw from political risk following a review of its portfolio, The Insurance Insider can reveal.

Global credit and political risk insurance capacity has increased by nearly a third since 2015, with the market increasingly willing to take on financial risks without trade collateral.