Political risk on increase in Tanzania as government acts against mine

Political risk on increase in Tanzania as government acts against mine

Political risk on increase in Tanzania as government acts against mine

Fuelling concerns around political risk in the country, the Tanzania government has sent Acacia Mining a tax bill equal to almost two centuries worth of the gold producer’s revenue, in the latest in a series of actions against the mining house. Acacia, which mines all its gold in Tanzania, said the government issued the company with a $40bn tax bill and…

Everest names new addition to political risk insurance team

Everest names new addition to political risk insurance team

Everest names new addition to political risk insurance team

Everest Re Group has announced that Joe Martin has joined the Everest Insurance credit and political risk team in New York, reporting to Jim Thomas, head of credit and political risk at Everest Insurance. Mr Martin joins Everest from Mitsubishi UFJ Financial Group (MUFG), where he was a director responsible for originating and structuring export credit and multilateral agency-backed cross-border…

XL Catlin opens political risk office in Washington D.C.

XL Catlin opens political risk office in Washington D.C.

XL Catlin opens political risk office in Washington D.C.

XL Catlin’s political risk, credit and bond (PRCB) insurance team has added a new office to its global network, which now includes Washington DC. Dan Riordan, PRCB president, said: “This year is particularly important to our growing team around the world. Having a dedicated PRCB office right here in Washington DC further strengthens our global reach and provides our partners…

Kenyan election finely balanced

Kenyan election finely balanced

Kenyan election finely balanced

Kenya goes to the polls on 8 August in an election that is too close to call between sitting President Uhuru Kenyatta and former Prime Minister Raila Odinga, stoking fears that there may be violence if the result is not clear cut. Reports are emerging of myriad disruptions and the criticisms of both parties are ramping up as the European…

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

Risk modelling and analytics firm RMS has expanded its portfolio of risk models with the addition of tropical cyclone and earthquake models covering Asia-Pacific. More specifically, the new models include typhoon models for South Korea and Taiwan, adding to existing ones for Japan and China, as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand, which will not sit…

One Belt One Road key to raising risk management standards in Asia: Parima

One Belt One Road key to raising risk management standards in Asia: Parima

One Belt One Road key to raising risk management standards in Asia: Parima

The One Belt One Road (OBOR) initiative, China’s ambitious development project designed to coordinate large infrastructure projects in China and place itself at the centre of global trade and construction, could also play a critical role in raising risk management standards across Asia. This was one of the central points made at the Pan-Asian Risk and Insurance Management Association (Parima)…

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

The south China, Indochina, Indonesia and Philippines region continues to lead the world shipping losses table, according to the Allianz Safety & Shipping Review 2017. The insurer’s latest report reveals that 23 of the 85 total losses suffered in 2016 occurred in the region. The region also leads the longer-term table. From 2007 to 2016, it was a clear leader…

Terror threat looms large in Mali

Terror threat looms large in Mali

Terror threat looms large in Mali

Security analysts are warning of the ongoing terror threat in Mali, after gunmen attacked a luxury resort. Two of the assailants were killed by security forces, who were searching for two others, according to BBC reports. One civilian was reported injured after the attack at the luxury resort of Le Campement Kangaba, east of Bamako. Seán Smith, west Africa analyst…

Unrest incidents in Kenya up as elections approach

Unrest incidents in Kenya up as elections approach

Unrest incidents in Kenya up as elections approach

New figures from Control Risks suggest unrest across Kenya has risen as the election process gets underway. It has recorded more than 192 incidents related to the upcoming August general elections in Kenya, since 6 April 2017. Control Risks said: “The majority of these occurred during the April party primary elections in closely contested areas in the Rift Valley region,…

Chubb increases terrorism, political violence and war insurance capacity

Chubb increases terrorism, political violence and war insurance capacity

Chubb increases terrorism, political violence and war insurance capacity

Chubb has increased its insurance capacity for terrorism, political violence and war risks to $150m/€150m from $100m/€100m. Chubb said the move is in response to evolving threats and increased demand from multinational clients. Chubb has increased its terrorism and political violence capacity per account by 300% in the past two years and now provides brokers and clients with comprehensive cover…

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