News – Page 119
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NewsUnpicking the Greensill collapse
Did fintech superstardom enable the Greensill collapse and fallout and could it all have been prevented?
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NewsSuez backlog presents further disruption
Brexit, the pandemic and recent Suez Canal blockage have brought into question lean manufacturing philosophies
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NewsDigital disruption tops banks' emerging risks
Untimely adoption may drive sudden changes to information security, change management, business continuity and third-party risk exposures
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NewsEnergy sector undergoes rapid transformation
WTW report highlights the importance of using risk quantifications and analytics to conduct energy transition initiatives
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NewsWillis Re: 7% growth in global reinsurance capital, with signs of underlying combined ratio improvement
Total capital dedicated to the global reinsurance industry measured USD 658 billion at year-end 2020 reflecting 7% year-on-year growth. The rise was driven primarily by strong investment market appreciation.
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NewsLabuan anticipates strong captive growth
Captive formation set to increase further in 2021 fuelled by the hardening commercial insurance market and renewed economic growth
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NewsSwiss watchdog asked Credit Suisse on Greensill risks - SonntagsZeitung
Switzerland’s second-biggest bank has been reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management within the course of one month.
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People & OpinionDietrich to lead Hiscox Europe
Specialist global insurer Hiscox has appointed Robert Dietrich as the new CEO of Hiscox Europe. Dietrich takes up the role immediately, succeeding Stephane Flaquet who was appointed to the new role of Chief Transformation Officer earlier this year.
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NewsWatford Announces Purchase of Axeria IARD
Watford has completed the purchase of Axeria IARD (“Axeria”), a property and casualty insurance company based in France. Watford has acquired 100% of the capital stock of Axeria IARD from the APRIL Group.
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NewsUnderwriting room could remain Lloyd’s focal point, but its role needs redefining – LIIBA
Lloyd’s of London’s underwriting room could remain a key focal point post pandemic, but its role needs redefining according to the London and International Insurance Brokers Association (LIIBA).
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People & OpinionAXA XL appoints Sundeep Khera Head of Marine, UK and Lloyd’s market and Global Head of Hull
Mr. Khera is currently Head of Marine, Asia-Pacific, at AXA XL, based in Singapore. In his new roles, he will be responsible for driving strategic, profitable expansion across the UK & Lloyd’s region and the division’s Global Hull books of business.
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NewsClimate change is the ‘biggest single investment opportunity’ for sector – Lloyd’s John Neal
Climate change is not a threat - instead it is the “biggest single investment opportunity” for the insurance sector in this lifetime, according to Lloyd’s of London’s chief executive John Neal.
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NewsClass of 2020-21 start-ups propel Abir to record membership
Conduit Reinsurance, Canopius Reinsurance and Mosaic Insurance are the newest members of Abir, expanding the organisation’s membership to 29, the highest total in its 28-year history.
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NewsVarney Re launches in Bermuda
The Bermudian-based reinsurer has been launched by Varney Insurance Agency, a family-run business based in Maine that serves clients and retail brokers across North America, including Puerto Rico to Canada.
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NewsAs Tesla takes the plunge, wary insurers watch crypto craze from the sidelines
If Elon Musk’s Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck.
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NewsU.S. rolls out first update to flood insurance pricing in 50 years
The agency said that, over the coming year, it will phase in a price-setting method that marks an epochal shift in the National Flood Insurance Program (NFIP), which was set up in 1968 to cover property in flood-prone areas.
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NewsArdonagh announces new international arm following US acquisition
Chief executive David Ross says the move signals ’an exciting new chapter in our story’
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NewsLloyd’s accentuates the positives despite cloud of Covid-19
Although Covid-19 payouts blew a £6bn hole in Lloyd’s of London’s reported 2020 performance, the market’s chief executive John Neal emphasised that below the surface, progress was continuing.
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NewsWhat does the UK’s economic rollercoaster means for the property market – Tokio Marine HCC
After what has been a year like no other for the property market, many insurers, brokers and clients will be questioning what challenges the year ahead will bring, Tokio Marine HCC’s underwriting manager Marc Brewer reviews the latest government initiatives and the being risks faced, read more in Insurance Times’s ...
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NewsWhy more data is not always better – InsTech London
More data is not always better, InsTech London has warned in its latest report on location intelligence.
