Latest risk managers sit Ferma’s rimap exam

Latest risk managers sit Ferma’s rimap exam

Latest risk managers sit Ferma’s rimap exam

Ferma held its latest rimap exams during the opening day of its forum yesterday, as it forges ahead with the scheme that has seen 32 risk managers certified to date. The exams, held in Monte Carlo yesterday, build on those previously run in Denmark and Italy. These online exams, which must be supervised by a Ferma-accredited authority, follow the launch…

AGCS plans product recall expansion with new appointment

AGCS plans product recall expansion with new appointment

AGCS plans product recall expansion with new appointment

Allianz Global Corporate & Specialty (AGCS) has appointed Simon Weaver as senior underwriter for product recall in London as part of the company’s expansion of its crisis management team. AGCS said the appointment is in line with its plans for growth in the product recall insurance sector. Mr Weaver joins AGCS from risk consulting firm red24, where he worked as…

EC fines VW’s Scania €880m for truck pricing cartel

EC fines VW’s Scania €880m for truck pricing cartel

EC fines VW’s Scania €880m for truck pricing cartel

Volkswagen-owned truck manufacturer Scania has been fined €880m for colluding with five other truck companies on prices and emissions costs over a 14-year period, by the European Commission (EC). The EC imposed the fine, without discount, after Scania refused to settle the case in line with the other manufacturers. In July last year, a settlement decision was agreed with MAN,…

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…

Arthur J Gallagher acquires Swedish P&C broker Nordic

Arthur J Gallagher acquires Swedish P&C broker Nordic

Arthur J Gallagher acquires Swedish P&C broker Nordic

Arthur J Gallagher has acquired property and casualty insurance broker Nordic Försäkring & Riskhantering AB in Gothenburg, Sweden. Gallagher said Scandinavia is a core area of strategic development and the move expands its footprint and broadens its capabilities in Scandinavia. Terms of the transaction were not disclosed. The deal builds on the 2013 purchase of international marine and energy broker…

Evolution of European broking sector continues

Evolution of European broking sector continues

Evolution of European broking sector continues

It has been an active few weeks in the European broking sector as leading international players JLT, Aon, BMS and Arthur J Gallagher all announced expansion plans, through three acquisitions and a startup. This week, JLT joined London market insurers in establishing a platform for EU business post-Brexit, through the acquisition of Belgian specialty broker Belgibo from EXMAR Group. JLT…

Cunningham Lindsey adds renewable wind energy team in Netherlands

Cunningham Lindsey adds renewable wind energy team in Netherlands

Cunningham Lindsey adds renewable wind energy team in Netherlands

Loss adjusting firm Cunningham Lindsey has established a new team of renewable wind energy experts in the Netherlands, in response to increased demand. Based at Cunningham Lindsey Nederland (CLN), the three-strong team is Michiel Groote Schaarsberg, a material science and technical loss adjuster; Morten Jensen, a wind power loss adjuster and consultant; and Erik van den Bos, a civil engineering…

S&P rates Finnish property/casualty insurance sector

S&P rates Finnish property/casualty insurance sector

S&P rates Finnish property/casualty insurance sector

Standard & Poor’s Global Ratings (S&P) has assessed industry and country risk for the Finnish property/casualty insurance sector as low. S&P said that strengths of the sector include a wealthy economy, with stable growth after recent turbulence, high barriers to entry, and improving underwriting profitability, mainly influenced by three major players. The rating agency pointed out that Finland’s wealthy economy…

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

HDI Global will extend cyber offering to 14 countries by year-end as demand rockets

Germany-based international industrial insurance group HDI Global plans to offer its cyber insurance solutions for corporate and mid-market customers in 14 countries by the end of this year, after successfully launching into the German-speaking markets in 2013. Last year, the group launched its cyber activities in France, the Netherlands, Belgium, Australia and the UK. Most recently it pushed into Japan…

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

Sustainability takes centre stage as EU non-financial reporting rules take effect

The issue of sustainability is rising up the corporate agenda and must now be taken more seriously as new European rules mandate non-financial reporting at large companies, according to Anna Rönngard, sustainability standards manager at clothing retail firm H & M Hennes & Mauritz. “Along with other European countries, Sweden recently passed EU laws that require sustainability reporting in your…

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