Yvonne du Floo, Quality and Risk Manager at Synbra Holding and Jacqueline Plessius, Global Insurance Manager at TNT, the ‘founding mothers’ of the fast-growing [email protected] network, received the annual risk manager of the year award from Dutch risk and insurance management association chair Ellen Rekker at NARIM’s annual conference last week in Noordwijk on the Dutch coast.
Standard and Poor’s (S&P) has affirmed its ‘A’ rating of SCOR SE and stuck to it’s ‘A-‘ rating with negative outlook of AEGON following an announcement on Tuesday that the Dutch insurer has sold its Transamerica Reinsurance arm to the French reinsurance company for $912.5m.
ING Group announced this week that it is to repay €2bn of state aid in May as part of its settlement of the €10bn that it borrowed during the financial crisis to shore up its capital position.
Aon Benfield reported that the Dutch primary market, especially on the commercial and industrial property side, ‘continues to soften’ with renewals receiving 10% reductions, and even as high as 40% reductions in some cases.
Allianz Risk Transfer, Galileo Weather Risk Management, the specialist energy and weather risk underwriting company, and Nephila Capital Ltd have teamed up to provide Frost Delay or Vorstverlet coverage to the Dutch construction industry to help replace an industry fund that ran out in 2008.
The Belrim roundtable, sponsored by XL, took place not far from the Battlefield of Waterloo, site of the final defeat of Napolean in 1815. CRE Editor Adrian Ladbury found participants uncertain whether a spike in demand would arrive at the last to save the day as General Blücher did during the battle.
Risk managers in the Netherlands are more internationally focused than many others in Europe because of the historic trading position of their country. During this roundtable discussion held in Noordwijk during the Narim conference Adrian Ladbury found a group wary of still difficult times but one that is looking forward and prepared to challenge the insurance sector to up its game and help out more effectively.
At the annual NARIM conference held last month key themes were member concerns over Solvency II and the need for risk managers to prove their value to senior management. Adrian Ladbury reports from Noordwijk.
Insurance risk managers need to sell the value of insurance to senior colleagues to avoid corporate isolation, according to experts at the NARIM annual meeting of Dutch insurance and risk managers in Nordwijk, Netherlands, last week.
The Dutch insurers’ association, the Verbond van Verzekeraars (NVV), has published a position paper on broker remuneration that calls for Customer Agreed Remuneration (CAR), a mandatory disclosure system, for non-life insurance transactions in the Netherlands.