XL Catlin Iberia expands into political risk

XL Catlin Iberia expands into political risk

XL Catlin Iberia expands into political risk

XL Catlin’s Iberia operation will begin underwriting political risk insurance after appointing Santiago Herrero as head of political risk, credit and bond for the region. Mr Herrero will be based in Madrid and will report to Dan Riordan, XL Catlin’s global head of political risk. José Ramón Morales, XL Catlin’s country manager for Iberia, said: “Emerging economies are going through…

The case for covering D&O in a global programme

The case for covering D&O in a global programme

The case for covering D&O in a global programme

For many Spanish companies, expanding into new markets outside Spain has proved to be a productive path to profitable growth. When Spain’s and much of the world’s economy took a nosedive in 2008, Spanish companies started to expand into other markets to compensate for the challenges in their home country. And international expansion was not limited to just a handful…

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Global business leaders have named economic risks – specifically unemployment in first place, followed by fiscal crises – as the top threats facing their organisation for the next ten years, according to a new survey by the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks…

Holiday illness claims – the Spanish viewpoint

Holiday illness claims – the Spanish viewpoint

Holiday illness claims – the Spanish viewpoint

As recently reported in Commercial Risk Europe, the epidemic of holiday illness claims, predominantly being brought by British tourists against UK-based tour operators while holidaying in all-inclusive accommodation in Spain, has caused considerable problems for the Spanish tourist industry. The origins of this new risk appear to be in the activities of enterprising claims management companies. They are targeting tourists,…

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks (MGR) is moving into London’s aviation insurance market by appointing former Willis Towers Watson man Oscar Becerra as aviation underwriter in the market. This will be the first time MGR will write aviation business directly from London and continues its strategy of driving international growth from the UK’s capital. Mr Becerra, who joins from Willis Towers Watson,…

BMS launches new European venture in Spain

BMS launches new European venture in Spain

BMS launches new European venture in Spain

Independent insurance and reinsurance broker BMS Group has launched a new European venture, BMS Iberia. The new venture will provide BMS with a long-term solution for accessing business in the EU post-Brexit. BMS said the launch of BMS Iberia is consistent with its “global integrated hub-and-spoke strategy” and will complement its existing international operations, focusing at the outset on a…

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…

New international head of underwriting at Mapfre Global Risks

New international head of underwriting at Mapfre Global Risks

New international head of underwriting at Mapfre Global Risks

Carlos Vasquez has been appointed as international head of underwriting at Mapfre Global Risks, the Mapfre unit that specialises in providing comprehensive insurance solutions for multinationals. He will be based in London. Mr Vasquez has been promoted from within Mapfre Global Risks to lead international underwriting, including continued expansion in London, the strategic base for international growth of its global…

Expert says no need for Spanish companies to panic over GDPR

Expert says no need for Spanish companies to panic over GDPR

Expert says no need for Spanish companies to panic over GDPR

The EU’s General Data Protection Regulation (GDPR) that comes into force in May 2018 should not throw Spanish risk managers into panic, because the country already has strict data protection rules, according to Alejandro Ramos, chief information security officer of Spanish telecommunications giant Telefónica. Mr Ramos told risk managers at the recent Risk Frontiers Madrid conference, hosted by Commercial Risk…

Companies must not freeze in face of bewildering array of risks

Companies must not freeze in face of bewildering array of risks

Companies must not freeze in face of bewildering array of risks

Companies cannot allow the sheer range and scale of threats currently facing European businesses to deter them from taking risks in pursuit of profit and expansion, according to a leading Spanish risk manager. This year’s European Risk Frontiers survey, carried out by Commercial Risk Europe with risk managers from across the continent, has found that recent events such as global…

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