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,…

Validus Specialty renews PRI binding authority at Lloyd’s

Validus Specialty renews PRI binding authority at Lloyd’s

Validus Specialty renews PRI binding authority at Lloyd’s

Validus Specialty Underwriting has announced the renewal of its political risk insurance (PRI) binding authority from its New York office, underwritten 100% by various underwriters at Lloyd’s and led by Talbot Underwriting Ltd, Syndicate 1183. The Talbot-led binding authority was first launched in 2016. To meet the demand for growth in 2017, capacity has increased from $125m to $240m per…

Initial hurricane Harvey loss estimates up to $20bn

Initial hurricane Harvey loss estimates up to $20bn

Initial hurricane Harvey loss estimates up to $20bn

Hurricane Harvey, which made landfall in Texas on Friday and is still causing heavy rains and flooding in the southern US state, is likely to cause insured losses below record US storms such as Sandy and Katrina, but could still cost insurers as much as $20bn with economic losses much higher, according to initial estimates. AIR Worldwide’s initial estimate has…

Elborne Mitchell appoints new partner

Elborne Mitchell appoints new partner

Elborne Mitchell appoints new partner

London law firm Elborne Mitchell LLP has appointed David Murphy as partner, where he will add to the firm’s core complex insurance and reinsurance expertise. Mr Murphy joins Elborne Mitchell with dispute resolution expertise in litigation, arbitration and mediation. He has experience in property/business interruption, casualty, energy, mining, engineering/construction, political violence, D&O, financial lines and credit insurance. Mr Murphy also…

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel opens new trade credit office in Chicago

Markel Corporation has announced the launch of a new trade credit and political risk operation in Chicago. Christen Mizell will transfer to Chicago from New York to take on trade credit and political risk underwriting responsibility for the Midwestern states. Her role is to broaden Markel’s geographic footprint, with special focus on developing strategic broker relationships, supporting the existing client…

Tough times and heightened political risk continue across Sub Saharan Africa

Tough times and heightened political risk continue across Sub Saharan Africa

Tough times and heightened political risk continue across Sub Saharan Africa

A number of African countries, including Niger, Algeria, Nigeria and Angola, will begin to move towards a more negative outlook, according to the latest AJG Credit and Political Risks Insurance (CPRI) – Report and Market Update. The July 2017 edition, with a quantitative assessment of the commercial insurance market for CPRI, covers the period since January 2017. AJG notes that,…

Kenyans nervous as five die following election results

Kenyans nervous as five die following election results

Kenyans nervous as five die following election results

Five people have died in Kenya following Tuesday’s election and the reported lead of sitting President Uhuru Kenyatta Opposition leader Raila Odinga is challenging the legitimacy of the results to date, claiming the system has been hacked but refusing to reveal his sources. On Wednesday morning, the Election Commission website showed Mr Kenyatta leading with 54.4% of the votes against…

Kenyatta takes lead as leaders appeal for calm

Kenyatta takes lead as leaders appeal for calm

Kenyatta takes lead as leaders appeal for calm

Sitting president Uhuru Kenyatta appears to have taken the lead after Tuesday’s election in Kenya. Risk managers across the country have been anxiously waiting for the election day, with fears of a return to the violence seen in the 2008 elections. Anecdotally, there have been stories of those who are able to choosing to leave the country or have a…

Markel expands Southeast Asia political risk team

Markel expands Southeast Asia political risk team

Markel expands Southeast Asia political risk team

Markel International has appointed Alex Holcroft as political risk underwriter in Singapore. He joins the existing trade credit and political risk team serving the Asia-Pacific region and will report to Nicola Marriage, senior underwriter in London. Mr Holcroft joins from Sompo Canopius, where he was an underwriter in the political risk and structured trade credit team. He joins a team…

Africans head to the polls

Africans head to the polls

Africans head to the polls

In a nine-day span from 30 July to 8 August, no fewer than five Sub Saharan African countries will hold nationwide elections, credit insurer Coface has highlighted. Warning of a “summer of living dangerously”, Coface said the citizens of Senegal, Republic of the Congo, Rwanda, Mauritania and Kenya will successively be called to the ballot boxes. They will be quickly…

1 2 3 11