Vitality now live in 16 countries

Vitality now live in 16 countries

Vitality now live in 16 countries

South African financial services group Discovery has been outlining the rapid growth of its Vitality network to 16 countries across North America, Europe, pan-Asia, South Africa and the UK, serving close to ten million clients through seven insurers. It claims the brand is attracting more than 150 000 new members a month. In the space of the last year, Vitality…

London remains top global financial centre despite Brexit negotiations

London remains top global financial centre despite Brexit negotiations

London remains top global financial centre despite Brexit negotiations

London remains the leading global financial centre according to the latest Global Financial Centres Index (GFCI), published by Z/Yen in collaboration with the China Development Institute. The GFCI rates 92 financial centres and found that London and New York remain in first and second places. According to Z/Yen, despite the ongoing Brexit negotiations, London only fell two points, the smallest…

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

QBE chief executive steps down

QBE chief executive steps down

QBE chief executive steps down

Australia-based insurer QBE has announced the departure of its chief executive John Neal after five “challenging” years in the role. Mr Neal will be replaced by Pat Regan, former chief financial officer and currently chief executive of QBE’s New Zealand and Australia operations. According to the Sydney Morning Herald, Mr Regan’s appointment is likely to be welcomed by investors in…

HDI Global hires new Singapore MD

HDI Global hires new Singapore MD

HDI Global hires new Singapore MD

Graham Silton has been appointed as managing director of HDI Global SE Singapore with effect from 1 October 2017, taking over from Nicholas Cheng who will retire at the end of 2017. Mr Silton joined HDI Global SE in April 2015, and relocated from Sydney to Singapore two years later to take on the role of underwriting manager for the…

Guy Carpenter brings in new Pacific CEO

Guy Carpenter brings in new Pacific CEO

Guy Carpenter brings in new Pacific CEO

Reinsurer Guy Carpenter has appointed Andre Eisele as its chief executive for the Pacific region. He joins from Swiss Re, where he was head of client markets property and casualty for Australia and New Zealand for the past three years. Mr Eisele will be based in Sydney and will report to Asia-Pacific chief executive Tony Gallagher. “Andre brings 17 years…

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

The worst floods in South Asia in a decade have claimed more than 1,400 lives and left many more homeless across India, Nepal and Bangladesh. They have also further exposed the protection gap that exists in the region. While the Texas floods caused by Hurricane Harvey have grabbed most of the international headlines, and Typhoons Hato and Pakhar have caused…

Chubb hires underwriters for its APAC cyber team

Chubb hires underwriters for its APAC cyber team

Chubb hires underwriters for its APAC cyber team

International insurer Chubb has appointed two underwriters to lead the expansion of its cyber insurance business in Asia-Pacific. Andrew Taylor has been hired as cyber underwriting manager for Asia-Pacific and will be responsible for growing the cyber division from his base in Sydney. Mr Taylor joined Chubb in 2009 as part of the information and technology team, before starting cyber…

Australian bank faces class action over money laundering scandal

Australian bank faces class action over money laundering scandal

Australian bank faces class action over money laundering scandal

Commonwealth Bank of Australia Bank (CBA), the country’s biggest listed company, is facing a possible class action suit from shareholders and investors after failing to disclose that it was facing money laundering charges. The legal action could be the largest ever seen in Australia, according to the parties bringing the lawsuit – lawyers Maurice Blackburn and litigation founder IMF Bentham.…

First half catastrophe losses low at $23bn: Swiss Re

First half catastrophe losses low at $23bn: Swiss Re

First half catastrophe losses low at $23bn: Swiss Re

Global insured losses from natural and man-made disasters stood at $23bn for the first half of 2017, down 35% from the $36bn recorded during the same period last year and well below the 10-year average of $33bn, according to Swiss Re. Economic losses were also well below average at $44bn, according to Swiss Re’s preliminary estimates. This compares to economic…

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