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Aug 2012

Global News


CAT losses cost insurers US$12 bln in 1H12

The first half of 2012 saw US$26 billion in catastrophe-related economic losses, of which $12 billion were insured by the industry, indicating that the losses were relatively moderate, said Munich Re in a report.

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Piracy falls sharply in first half of the year


The number of pirate attacks fell to 177 in the first half of 2012, down from 266 in the same period last year, led by a drop in Somali piracy, the International Maritime Bureau (IMB) said in its global piracy report.

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It’s “AIG” again


American International Group’s (AIG) global P&C business, renamed Chartis in 2009, will revert to the AIG name this autumn, reinforcing the brand power of a name.

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Global commerce to bypass the West as emerging market intra-trade increases

Rapidly accelerating growth and increased intra-trading across South America, Africa, Asia and Middle East (SAAAME) is leading to a radical shake-up in the competitive environment for financial services businesses, according to PwC.

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