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…

Euler Hermes launches public access open data portal

Euler Hermes launches public access open data portal

Euler Hermes launches public access open data portal

Trade credit insurer Euler Hermes has released its open data platform for anyone to access, use and share its data on international B2B trade. Euler Hermes said the move gives public access to millions of exclusive datasets, and will help users make sense of international trade data, select the right prospects and do business with confidence. The insurer said its…

Marsh raises shareholding in Marsh India to 49%

Marsh raises shareholding in Marsh India to 49%

Marsh raises shareholding in Marsh India to 49%

Marsh has increased its shareholding in Marsh India from 26% to 49%, the maximum permitted foreign direct investment in India-based insurance broking firms, according to The Economic Times. The transaction has been approved by the Indian insurance regulator, the Insurance Regulatory and Development Authority (IRDAI). Marsh India is a joint venture between Marsh International Holdings and its India-based partners, including…

Edgar Puls to take over from Christian Hinsch at HDI Global

Edgar Puls to take over from Christian Hinsch at HDI Global

Edgar Puls to take over from Christian Hinsch at HDI Global

Christian Hinsch will step down from his role as CEO of HDI Global, the industrial lines insurer of Talanx group, after its AGM on 9 May and will be replaced by Edgar Puls. Mr Puls is currently in charge of HDI Global’s property, engineering, marine, multi-risk and European division. Talanx said the move completes a “generational renewal” at board level.…

Building cyber resilience

Building cyber resilience

Building cyber resilience

Cyberspace has become a dangerous source of crime and disruption. Data breaches are increasing both in terms of size and frequency, and companies need to rethink their risk strategies, especially when it comes to cybersecurity and insurance protection. Businesses can no longer simply rely on existing traditional insurance coverages such as general liability or property, and should be looking at…

Bermuda added as EU tax haven, but government says listing is ‘temporary’

Bermuda added as EU tax haven, but government says listing is ‘temporary’

Bermuda added as EU tax haven, but government says listing is ‘temporary’

Bermuda has been added to a European Union list of “non-cooperative” jurisdictions, although the Bermuda Government insists that the listing will be temporary, and was due to a technical omission in its submission to the EU. The Council of the European Union adopted a revised EU list of non-cooperative jurisdictions for tax purposes. In addition to the five jurisdictions that…

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton to buy Pembroke and Ironshore Europe DAC

Hamilton Insurance Group has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency platform at Lloyd’s and Dublin-based Ironshore Europe DAC (IEDAC). Hamilton is the Bermuda-based holding company for insurance and reinsurance operations in Bermuda and at Lloyd’s. According to Hamilton: “The complementary profile of Pembroke and IEDAC’s business both accelerates the company’s goal of…

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…

OECD tax proposals go beyond taxation of digital business models

OECD tax proposals go beyond taxation of digital business models

OECD tax proposals go beyond taxation of digital business models

The Organisation for Economic Co-operation and Development’s (OECD) efforts to address taxation challenges that result from digitalisation would lead to fundamental changes in the existing international tax system, according to Insurance Europe. It said the OECD’s initial proposals go far beyond the mere taxation of digital business models. Insurance Europe said it believes that any adaptations should focus on aggressive…

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