Corporate round-up

Swiss Re Corporate Solutions names Ole Nyborg Head of Claims for EMEA Swiss Re Corporate Solutions has named Ole Nyborg as Head of Claims for Europe, the Middle East and Africa (EMEA). Mr Nyborg, who will be based in Swiss Re's Copenhagen, Denmark office, has held leadership roles in insurance for more than 25 years. He joins Swiss Re Corporate Solutions from Vestas A/S, a Danish wind turbine company, where he was Head of Group Risk Management. Mr Nyborg has previously held senior positions in claims management at AIG and RSA. Nicola Parton, Head of Claims for Swiss Re Corporate Solutions, said: "Ole brings first-hand experience of what it's like to be the client. His industry-wide view will help us further enhance claims service and differentiate ourselves from the competition."hideTony Buckle, Swiss Re Corporate Solutions' Head of EMEA, added: "Bringing Ole onto our team is another important step towards building a strong regional claims organisation and supporting our EMEA growth strategy. Ole has successfully led large, regionally diverse teams and managed all commercial insurance lines of business." Lloyd's MGA Northcourt brings new nuclear liability capacity to market Lloyd's managing general agent Northcourt has launched a nuclear liability insurance facility that will initially bring an additional $100m of capacity to the market. Northcourt anticipates that the capacity it offers will increase towards the end of 2015. The facility can place nuclear insurance programmes globally, through a panel of leading Lloyd's syndicates and company markets. All capacity providers have a security rating of 'A' or above. The panel is led by Tokio Marine Kiln. Alan Rickett, Chief Executive Officer of Northcourt, commented: "Northcourt's nuclear liability binder is a timely response to growing demand for higher nuclear liability limits. This is particularly the case given the amendments to the international nuclear conventions, which mean that nuclear liability limits will increase substantially for most nuclear sites in Europe and around the world." Matt Lightowler, Vice-President of GC Fac at Guy Carpenter, which will manage Northcourt's insurance market placements, added: "The growth of nuclear energy cannot be underestimated. More than 60 new nuclear reactors are currently being built globally, with in excess of 180 in the pipeline. Nuclear power is regarded by many as the solution to the world's energy problems and the insurance industry has a critical role to play in supporting the ongoing development and expansion of this sector." Marsh launches Delta Investment Management Insurance facility Marsh has launched its Delta Investment Management Insurance (IMI) facility to help the global asset management community manage and transfer professional indemnity and crime risks. The facility is aimed at asset and investment managers, hedge fund managers and fund-of-funds managers. Delta IMI is underwritten by a panel of leading London market insurers and is available to clients globally, excluding those domiciled in the US. Each insurer can provide individual limits of liability up to £10m, $15m, AUS$15m or €15m. Collectively, the insurers can provide up to £40m in capacity or equivalent currency. Delta IMI's features include: Provision for mitigation costs Cover for wrongful professional acts, including those acts by a person or entity for whom the insured is legally liable A narrow "insured entity-versus-insured entity" exclusion, with a specific carve-back for funds Cover for investigation, emergency and critical regulatory response costs (each not subject to a retention) Professional indemnity and directors' and officers' cover for funds Neill Harman, UK Asset Management Practice Leader at Marsh, commented: "Low frequency, high impact events, such as a product failure, can have a profound impact on an asset management firm's financial health. The Marsh Delta IMI facility has been developed to address many of the coverage issues that have emerged following the financial crisis. Marsh Delta IMI provides excellent protection for the financial, business and operational risks typically identified within our clients' risk management frameworks." Charles Taylor acquires Cardinal Risk Management Charles Taylor Risk Consulting has acquired independent risk management services provider Cardinal Risk Management Alternatives. The combined business will provide an extended risk consulting service to clients globally, which will support all aspects of operational risk management. Cardinal was founded in 1995 in Dallas, Texas and has since served clients across the US. Chris Moss, Director, Charles Taylor Risk Consulting, commented on the move: "Both Cardinal and Charles Taylor have long track records of providing dedicated service to their clients. We focus on all aspects of risk an enterprise faces, insurable and uninsurable and we consider all potential mitigations, not just insurance. Cardinal is a natural fit with us and we look forward to mutually serving our growing client base with passion and dedication." Robert Duty, President of Cardinal, added: "We were attracted to Charles Taylor by the similarities in our scope of operations and clients served, their global presence that allows us to help our clients who are expanding or trading internationally and their deep bench of technical experts such as engineers and actuaries that can help serve our clients even more fully than before." Aon creates new SMEs unit and strengthens affinity offering Aon Risk Solutions, the global risk management arm of Aon, has launched a small to medium-sized enterprises (SME) division that brings together two of its small business-focused areas - enterprise and partners - to create a "centre of client excellence". Aon is also investing in its affinity business to align business units focused on providing a specialised service to high profile and high net worth clients. Managing Director Keith Harrison will head up the new SME division. Aon said he has extensive insurance and technical experience in the SME market. Before joining Aon in March 2014, Mr Harrison was Managing Director of eTrading at Towergate, with responsibility for strategically developing its commercial eTrading capabilities. Meanwhile, Aon's newly created Affinity Practices Group will combine the firm's private risk management, estates, artscope and sports, recreation and entertainment businesses. The division will be led by Toby Carnduff, Managing Director, Aon Private Clients. He has been with the broker since November 2013 and brings a wealth of experience to this role. The group also comprises Aon's new Customer & Schemes Solutions unit, which provides business consultancy services including tender management and market analysis. It is led by Managing Director Roger Hine. Jim Herbert, Chief Executive Officer of Aon Risk Solutions, said: "SMEs are the backbone of the UK economy and a true growth sector so it is essential that we invest here to ensure we are well placed to help our clients grow and develop their businesses. The investment we have made builds on our core offering and positions us well for future growth." MSIG appoints Graeme Rayner as Chief Underwriting Officer MSIG at Lloyd's has appointed Graeme Rayner as Chief Underwriting Officer. He takes up his new role with immediate effect in addition to his existing responsibilities as active underwriter. MSIG's Chief Executive Officer Andrew McKee said: "Since joining MSIG in August 2011, Graeme has been of fundamental importance in the ongoing success of MSIG and will play an increasingly important role in its future development. MSIG is a specialty business well regarded for its strength of underwriting platform and service culture and I look forward to working with Graeme in his new capacity and to his support in realising MSIG's strategic ambitions."

Corporate round-up

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