Political risk: Insights for your firm

Political risk: Insights for your firm

Political risk: Insights for your firm

Today, as many businesses wonder how to thrive amid political uncertainty, companies with experience in emerging markets can offer insights to help with the changing business environment. One common solution chosen by companies operating in emerging markets is political risk insurance. Political risk insurance both helps protect businesses against the risk of losing investments and helps companies secure funds for…

GFIA highlights increasingly protectionist environment

GFIA highlights increasingly protectionist environment

GFIA highlights increasingly protectionist environment

The annual report of the Global Federation of Insurance Associations (GFIA) has highlighted that an increasingly protectionist environment threatens open trade and market access in (re)insurance. In an article in the report, Brad Smith, chair of the GFIA trade working group and chief international officer at the American Council of Life Insurers, writes that global trade dynamics have changed in…

S&P: How insurance ratings are affected by sovereign stress

S&P: How insurance ratings are affected by sovereign stress

S&P: How insurance ratings are affected by sovereign stress

Sovereign downgrades can put pressure on insurer ratings, but insurers’ sensitivity to sovereign stress depends on their asset base and the scope of operations, according to a report from S&P Global Ratings. Insurance company ratings are not limited by the rating on their sovereign, but they are affected by the economic and market consequences that typically occur in times of…

Tax rules have broad implications for global insurance programmes

Tax rules have broad implications for global insurance programmes

Tax rules have broad implications for global insurance programmes

The Criminal Finances Act 2017, which came into effect in the UK at the end of September this year, introduces a new corporate offence of failing to prevent the facilitation of tax evasion by an ‘associated person’, either in the UK or abroad. Andrew Gitsham, global head of international product underwriting, Zurich Commercial Insurance, explains why companies with global insurance…

Future looking good for global programmes

Future looking good for global programmes

Future looking good for global programmes

Is there an increased demand for global solutions from continental European organisations with global insurance programmes? Or are companies sticking with local programmes/covers? Absolutely, we still see a move towards global programmes. The number of underlyers that we issue that are part of global programmes has increased year on year for as long as I can remember (5% last year).…

China Market Report: opportunities but challenges too

China Market Report: opportunities but challenges too

China Market Report: opportunities but challenges too

Economic growth may be slowing in China, but the outlook for the insurance sector remains excellent. That’s the view of Munich Re in a recent report, and it is not alone. There is still a good deal of optimism surrounding the Chinese insurance market, and foreign insurers are as keen as ever to get some sort of foothold on the…

Captives and global programmes

Captives and global programmes

Captives and global programmes

In today’s global marketplace where companies are operating from Azerbaijan to Zambia, having a centralised way to keep a handle on the myriad risks they face can deliver real benefits. For risk managers, a captive insurance company is a useful tool to coordinate an international insurance programme and to derive some tangible cost savings, while gaining a global picture of…

Dramatic expansion of US sanctions on North Korea

Dramatic expansion of US sanctions on North Korea

Dramatic expansion of US sanctions on North Korea

On 21 September 2017, the US dramatically expanded the scope of US sanctions that apply to those who do business with North Korea. These new sanctions target not only foreign companies that trade with North Korea, but also the foreign financial institutions (FFIs) that finance such trade. Companies that trade with North Korea, or that have an interest in trading…

Ten ways to sell the global programme to subsidiaries

Ten ways to sell the global programme to subsidiaries

Ten ways to sell the global programme to subsidiaries

One of the hardest jobs for a risk or insurance manager when it comes to a global insurance programme is selling the concept to subsidiaries and operating units. The news of a centralised, unified insurance programme may be music to the ears of a group finance director, and indeed group risk manager, but may not be universally welcomed, especially by…

A holistic approach to global employee benefits

A holistic approach to global employee benefits

A holistic approach to global employee benefits

There is a growing need for a holistic approach to global employee insurance risks for multinational customers, to ensure that the current challenges are met and future opportunities are taken. Employee insurance risk products straddle both the life and non-life insurance worlds and those two worlds have traditionally spoken different languages. On the non-life side, you have workers compensation and…

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