Peter Child appointed as head of Artex European Operations

Peter Child appointed as head of Artex European Operations

Peter Child appointed as head of Artex European Operations

Artex Risk Solutions has appointed Peter Child as head of Artex European Operations. In this role he will oversee its Guernsey, Malta, Gibraltar and London offices. Mr Child will continue with his role of managing director of the Guernsey office and continue reporting to Nick Heys, CEO of Artex International. “Peter has been an integral part of our management team…

Sompo Global Risk Solutions appoints chief underwriting officer

Sompo Global Risk Solutions appoints chief underwriting officer

Sompo Global Risk Solutions appoints chief underwriting officer

David Carter has been appointed chief underwriting officer and executive vice-president of the Sompo Global Risk Solutions (GRS) strategic business unit. Sompo said he will assume a strategic management role and will have oversight of underwriting strategies, new product innovation and underwriting guidelines, along with expense and profitability management. Sompo added that he will help Sompo GRS “continue its exciting…

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

Making the index link: how parametric solutions can help captives manage natural catastrophes risk

It is said that three in every four (or as many as 80% of) corporate insurance buyers have some form of exposure to weather-related risk. Natural catastrophes cause widespread devastation, tragic loss of life and huge economic losses. Last year, insured losses from natural catastrophes totalled more than $75bn, according to estimates. Christelle Castet, climate risk specialist at AXA Climate…

Risk managers with operations in the Middle East must brace for rising premiums as tensions boil over, says DWF

Risk managers with operations in the Middle East must brace for rising premiums as tensions boil over, says DWF

Risk managers with operations in the Middle East must brace for rising premiums as tensions boil over, says DWF

The Middle East crisis will see premiums rise exponentially in marine and other lines for companies operating in the region, according to law firm DWF. Jonathan Moss, head of marine and trade at DWF, said: “The latest chapter of turbulence in the Middle East will undoubtedly lead to insurers and reinsurers – particularly in lines such as hull, war, piracy,…

Marsh JLT Specialty appoints head of cyber, international

Marsh JLT Specialty appoints head of cyber, international

Marsh JLT Specialty appoints head of cyber, international

Sarah Stephens has been appointed as head of cyber, international, within Marsh JLT Specialty, with immediate effect. According to Marsh, in this newly created role she will be responsible for the strategic development and delivery of Marsh JLT Specialty’s cyber insurance and placement capabilities across the business’s international division, which includes all geographies outside North America. She will also work…

New head of casualty for UK and Europe for Berkshire Hathaway Specialty

New head of casualty for UK and Europe for Berkshire Hathaway Specialty

New head of casualty for UK and Europe for Berkshire Hathaway Specialty

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Hilary Browne to the dual role of country manager for Ireland and head of casualty for UK and Europe. She joins BHSI from AIG, where she was until recently head of international casualty. She will based in BHSI’s office in Dublin. “Hilary’s excellent technical underwriting and leadership skills make her a stellar addition…

Captive insurer involved in case of alleged underpayment of taxes in US

Captive insurer involved in case of alleged underpayment of taxes in US

Captive insurer involved in case of alleged underpayment of taxes in US

A tax whistleblower case in the US involving a captive insurance company has resulted in an $8.5m recovery as a result of a settlement. The case involved the alleged underpayment of taxes to New York State and New York City by Moody’s Corporation, along with various affiliates and Marsh & McLennan Companies. New York-based plaintiffs’ law firm Kirby McInerney represented…

New Latin America leader for Aon

New Latin America leader for Aon

New Latin America leader for Aon

Aon has appointed Alejandro Galizia as CEO for commercial risk, health, retirement and data and analytics for Latin America. He assumes the CEO role following the retirement of Fernando Pereira on 1 January 2020. Mr Pereira served as CEO for Latin America since 2012 and has been with Aon for more than 20 years. Mr Galizia most recently served as…

Starbucks and Alaska Air captives ordered to stop insuring risk in Washington state

Starbucks and Alaska Air captives ordered to stop insuring risk in Washington state

Starbucks and Alaska Air captives ordered to stop insuring risk in Washington state

Two captives have been ordered to cease writing risks in Washington state by the state insurance commissioner Mike Kreidler. The insurance commissioner ordered unauthorised insurers Olympic Casualty Insurance and ASA Assurance to stop insuring risk in Washington state for their parent companies, Starbucks and Alaska Air Group. According to the Washington state office of the insurance commissioner, both companies are…

US workers’ compensation insurance sector profitable but facing challenges

US workers’ compensation insurance sector profitable but facing challenges

US workers’ compensation insurance sector profitable but facing challenges

Profitability of the US workers’ compensation insurance sector remains strong, despite the extended market softening with declining rates and growing competition, according to AM Best. But it warned that the falling rates could begin to challenge carriers’ ability to retain profitable accounts and maintain market share. “Rate decreases in the vast majority of the US have led to margin compression…