Insurance
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Corporate round-up
AXA Corporate Solutions appoints new regional CEO for Asia, AIG in Europe makes new appointments to trade credit team and…
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GCC banking regulators defend record on corporate governance
Banking supervisors in the Gulf Cooperation Council (GCC) have defended the level of corporate governance and performance of risk managers…
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Global sanctions causing headaches for risk managers at Middle East banks
Financial institutions in the Middle East are facing increasing challenges to comply with, implement and monitor global sanctions.
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Stricter EU food labelling rules place companies at increased risk warns ACE
Forthcoming new EU food labelling regulation will tighten rules governing food and drink companies and, according to ACE, could lead…
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FCA leak causes consternation amongst insurers and politicians
The UK's Financial Conduct Authority (FCA) caused a political storm last week as it leaked details of its 2014 Business…
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Corporate round-up
Generali and Mitsui Sumitomo join forces in nine new markets to develop multinational offering, AWAC establishes Lloyd's managing agent, Kiln…
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Rising nat cat exposures demand timely response
A string of large natural catastrophes over the past five years has shown that no business is immune from the…
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Insurers battling with Solvency II’s Pillar 3 requirements
With Solvency II reporting deadlines fast approaching a poll by PwC has revealed that 68% of UK insurers are less…
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Weather-related BI risk should be centre of attention
Rising natural hazard exposures are a particular problem for business interruption and supply chain risks, experts say.
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Evolving to meet customers’ needs–Jeff Moghrabi, ACE
Don’t expect radical change at ACE in Europe following the promotion of Jeff Moghrabi to Regional President Continental Europe. Evolution…
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A job well done–Robert Benmosche, AIG
Following the financial crisis of 2008, AIG received a $182bn loan from the US government and taxpayers to save its…
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Energy firms in Middle East score ‘above average’ in Marsh risk report
Energy firms in the Middle East energy market have an ‘above-average’ approach to risk management relative to their global peer…
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Middle Eastern firms set the risk standard in LNG market: Marsh
The global Liquid Natural Gas (LNG) market is experiencing a period of rapid growth driven by a shift towards natural…
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Global programmes to take centre stage in Zurich strategy ‘adjustment’
Zurich CEO Martin Senn has promised shareholders that it will take its 'foot off the brakes' and adopt a more…
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Ferma opposed to changes to EU insurance contracts
Ferma has warned the European Commission (EC) against any radical overhaul of EU insurance contract law claiming changes would jeopardise…
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DVS chair Hans-Jürgen Allerdissen leaves Deutsche Bahn
In a surprise move DVS chairman Hans-Jürgen Allerdissen has left German Railway's captive Deutsche Verkehrs-Assekuranz-GmbH (DVA).
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$450m losses from flight MH370 will not arrest soft aviation market–S&P
S&P estimates that insured losses from missing Malaysia Airlines flight 370 will total between $250m and $450m and not arrest…
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French risk managers want improvements to BI coverages
The French risk management association AMRAE has called for improvements to business interruption (BI) coverage to better service the needs…
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FCA claims review cautiously welcomed by UK buyers
The UK regulator has confirmed that it is to look into how the country's insurers handle commercial claims, a move…
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Low losses and fresh capacity to drive rates down 20% in energy market: Marsh
Broker Marsh believes that energy insurance buyers can look forward to softening rates this year of up to 20% on…