Need for investment insurance to support African growth

Need for investment insurance to support African growth

Need for investment insurance to support African growth

The African Trade Insurance Agency (ATI) has urged Nigeria and other countries to focus on de-risking their economies to drive future investment growth. During its participation in Afreximbank’s 2018 Annual Meetings and 25th anniversary celebrations, Ade Ayeyemi, Ecobank’s Group CEO, warned that investors would run away from Africa unless adequate risk measures were put in place to address actual and…

Merger lawsuits in US labelled ‘highway robbery’ as insurance claims soar

Merger lawsuits in US labelled ‘highway robbery’ as insurance claims soar

Merger lawsuits in US labelled ‘highway robbery’ as insurance claims soar

Lawsuits objecting to corporate mergers in the US are “highway robbery”, with the cost of claims against insurance policies for such legal cases up 63% since 2012 to $4.5m in 2016, according to new Chubb data and a panel debate on the findings. The insurer said the average cost of settled merger-objection claims was $3.6m during the four years, while…

New head of global FINEX for Willis Towers Watson

New head of global FINEX for Willis Towers Watson

New head of global FINEX for Willis Towers Watson

Jeremy Wall has been appointed as head of global FINEX at Willis Towers Watson. Mr Wall has been a key member of the Willis Towers Watson FINEX leadership team for many years and will report to Alexis Faber, chief operating officer of corporate risk and broking at Willis Towers Watson, who was appointed to the role in March 2018, having…

CNA Hardy appoints Buege to head new specialty unit

CNA Hardy appoints Buege to head new specialty unit

CNA Hardy appoints Buege to head new specialty unit

Commercial insurer CNA Hardy has appointed Rhonda Buege to head up a new unit that will focus on specialty business and healthcare. The new division will house all of CNA Hardy’s existing healthcare and specialty lines products from the Lloyd’s and London company market, including medical malpractice, technology, life science, cyber and financial lines. Ms Buege will head the specialty…

Brexit effect identified in 2018’s EU-UK trade: Atradius

Brexit effect identified in 2018’s EU-UK trade: Atradius

Brexit effect identified in 2018’s EU-UK trade: Atradius

Exports between the European Union and UK have already been affected by the UK’s decision to leave the bloc, according to figures tracked by trade credit insurer Atradius. Depreciation of the pound against the euro since the Brexit referendum in June 2016 has strengthened UK exports to the EU to 6.8% so far this year, the highest rate of growth…

Baker McKenzie financial services team joins DLA Piper in Belgium

Baker McKenzie financial services team joins DLA Piper in Belgium

Baker McKenzie financial services team joins DLA Piper in Belgium

A team of financial services and insurance lawyers from Baker McKenzie has joined DLA Piper in Antwerp, Belgium. Pierre Berger, former head of Baker McKenzie’s Belgium and EMEA financial services and insurance practice, will join DLA Piper as a partner. Other team members Isabelle Van Biesen, Simon Landuyt, Pauline Kustermans, Stéphanie Liebaert and Caroline Fabri are also moving to DLA…

Insurance has key role to play in PPP across Africa

Insurance has key role to play in PPP across Africa

Insurance has key role to play in PPP across Africa

Insurance should play a bigger role in enabling public-private partnerships (PPP) for major African infrastructure developments, according to a new report. How to conduct Public-Private Partnership and infrastructure transactions on the continent, produced by PPP expert Alexander Boadi, suggests insurers should consider partnering with the European Union (EU) as they plan to invest $40bn in Africa. The EU wants to…

B2B payments in the Americas delayed further during 2018, warns Atradius

B2B payments in the Americas delayed further during 2018, warns Atradius

B2B payments in the Americas delayed further during 2018, warns Atradius

Companies in the Americas have taken an average 63 days to pay bills to suppliers and other businesses this year, a slight deterioration on the 61 days recorded in 2017, according to new research from credit insurer Atradius. In a survey of payment practices that might prove useful reading for firms looking to trade with, or export to, the Americas,…

Déjà vu as Q2 risks mirror 2012-2013 slowdown: Coface

Déjà vu as Q2 risks mirror 2012-2013 slowdown: Coface

Déjà vu as Q2 risks mirror 2012-2013 slowdown: Coface

Risk signals in the second quarter of 2018 are similar to the slowdown of global trade conditions in 2012 to 2013, according to Coface’s latest update on worldwide country and sector risks. Coface said Q2 confirmed that the peak in world growth has passed. Risks identified in Q2 2018 included the rise of sovereign spreads in the eurozone, increased protectionism,…

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Time runs out for contract certainty as London lobby group calls for grandfathering to resolve ‘crisis’

Cross-border insurance contracts and pensions affected by Brexit must be grandfathered after the UK leaves the EU, argues TheCityUK in a new report that finds 30 million EEA and six million UK policyholders are at risk if a solution is not found. Financial services lobby group TheCityUK said £26trn of uncleared derivatives are also at risk, adding that time has…

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