AGCS names Hartmut Mai as Andreas Berger’s replacement

AGCS names Hartmut Mai as Andreas Berger’s replacement

AGCS names Hartmut Mai as Andreas Berger’s replacement

Allianz Global Corporate & Specialty (AGCS) has appointed Hartmut Mai as chief regions and markets officer for central and eastern Europe, the Mediterranean and Africa. AGCS’s CEO Chris Fischer Hirs has filled the role since Andreas Berger announced last September that he would be joining Swiss Re Corporate Solutions as CEO. Thomas Sepp, currently head of midcorp business for Allianz…

Risk managers urged to check insurance cover to protect key staff

Risk managers urged to check insurance cover to protect key staff

Risk managers urged to check insurance cover to protect key staff

After a terrible week, in which many people across Africa lost their lives travelling to work, risk managers have been urged to check their insurance policies and ensure key staff are properly protected. Key-man insurance protects individuals who are of extreme importance to the functioning of the business, however one major broker has admitted too many firms are missing out…

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis taps Marsh for key appointments

Willis Towers Watson has tapped Marsh for its new head of marine broking, and power and utilities CEEMA region leader. Willis Towers Watson has appointed David Ripton as head of broking, global marine in its corporate risk and broking unit. Mr Ripton joins Willis’s global marine team from Marsh, where he worked as CEO for UK marine business. In his…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb is the lead underwriter of the Ethiopian Airlines plane that crashed on Sunday with Willis Towers Watson the broker, a spokesperson for the intermediary has confirmed. The spokesperson was responding to Reuters following the crash of Ethiopian Airlines flight 302 shortly after take-off from Addis Ababa. All 157 passengers and crew were killed. Experts have placed the hull loss…

Munich Re launches battery cover to help decarbonisation

Munich Re launches battery cover to help decarbonisation

Munich Re launches battery cover to help decarbonisation

Munich Re said its new product for insuring battery performance is a “key piece of the puzzle” to decarbonise the energy market. The company said the global cover insures battery manufacturers’ warranties for ten years, and has already been taken up by US battery manufacturer ESS Inc. Munich Re said the insurance will kick in where the repair or replacement…

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

The Middle East and North Africa (MENA) insurance markets have seen strong growth during the past decade and remain attractive to investors despite slowing economic growth in the region, according to AM Best. It said growth in the insurance segment in MENA remains higher in comparison to the most mature markets. The region has faced significant challenges, said Best, “with…

Aon launches insurtech consultancy for marine risks

Aon launches insurtech consultancy for marine risks

Aon launches insurtech consultancy for marine risks

Aon has launched a new marine consultancy service with software firm Skytek that uses real-time satellite data to track insureds’ ships and cargo, reducing accumulation risk and potentially offering better insurance cover and pricing. Aon said mega-ports and the increasing size of container ships put insurers and reinsurers at risk of accumulation, particularly during a catastrophe. The insurtech initiative uses…

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