Allianz Global Corporate & Specialty (AGCS), the arm of Munich-based Allianz SE that focuses on large corporate and specialty business, reported gross premiums up by 33% to €3.8bn in 2009 against €2.9bn in 2008 and a strong improvement in its solvency ratio from 302% at the end of 2008 to 409% at the end of last year.
Amlin, the London-based insurance group, reported a record pre-tax profit for 2009 on the back of strongly increased premium volumes, lower claims, a record investment result and a significant reserve release from prior years.
RSA, the London-based insurance group, has reported a higher net written premium volume and improved underwriting result but worse combined ratio and lower profits.
Chartis Insurance UK Limited has set up a Captive Practice Group that brings together risk management, risk finance, underwriting, legal, accounting, tax and actuarial functions.
I have to confess that when I see a speech on enterprise risk management scheduled at a conference I usually earmark that hour for some well-deserved pool time.
The Geneva-based International Risk Governance Council (IRGC) has published a far-reaching report that lists and describes the most common risk management failings within state and private organisations, explains how they can occur, illustrates the shortcomings and their consequences and provides what it describes as a “catalyst” for their correction.
International energy industry executives were warned last week to not allow short-term financial targets to overshadow basic health and safety needs, by Judith Hackitt, Chair of the United Kingdom’s Health and Safety Executive.
The U.K. Sentencing Guidelines Council (SGC), the body that advises courts on sentencing, has published a set of principles to guide courts when they deal with companies that cause death through a gross breach of care or where breach of health and safety requirements cause death.
The Brussels-based Emerging Risks Unit (EMRISK), a specialist unit of the European Commission, has developed a system to routinely monitor data from the Commission’s Rapid Alert System on Food and Feed (RASFF) to help it identify emerging and re-emerging risks in this increasingly incident-prone sector.
AXA Corporate Solutions (ACS) reported slightly reduced revenues on a reported basis, but, sharply increased profits as Paris-based parent AXA S.A. reported its group numbers for 2009 late last week.