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…

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber rated top risk facing multinationals in Africa

Cyber, together with political and trade credit risks, has topped a new multinational risk survey released by Chubb Insurance South Africa, in collaboration with Commercial Risk Africa. “Despite commodity market instability, Africa remains one of the fastest-growing regions in the world, with South African organisations focusing their growth strategies beyond borders. Yet these new growth strategies are creating complex new…

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

Lloyd’s insurer ArgoGlobal has appointed Alfredo Alonso chief underwriting officer for Europe, Middle East and Asia. Mr Alonso will take up the post in London this month, where he will report to Matt Harris, group head of international operations. Mr Alonso joins ArgoGlobal from RSA, where he worked in chief underwriting roles for the past seven years and most recently…

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon has launched its protected cell facility in the District of Columbia in the US. The latest expansion of Aon’s White Rock Group means the facility is now established in seven domiciles around the world. According to Aon: “White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including…

New head of global operations for Lloyd’s

New head of global operations for Lloyd’s

New head of global operations for Lloyd’s

Lloyd’s has appointed Hayley Spink as head of global operations. According to Lloyd’s, in her new role she will provide operational leadership for Lloyd’s’ internal and market-wide programmes, reporting to chief operating officer Shirine Khoury-Haq. Ms Spink joined Lloyd’s in 2007 and has served in a variety of operational leadership roles, where she has implemented and overseen Lloyd’s operations all…

Insurance Europe reveals European insurance data

Insurance Europe reveals European insurance data

Insurance Europe reveals European insurance data

Total premiums in Europe increased by 4.7% to €1,213bn in 2017, with property/casualty growing by 4.4% to €371bn, according to new figures from Insurance Europe. The robust growth in 2017 was mainly driven by the three largest European markets – led by the UK and supported by France and Germany. The three largest markets together accounted for 57.2% of the…

NAIC report details US property/casualty market share

NAIC report details US property/casualty market share

NAIC report details US property/casualty market share

The top ten property/casualty companies in the US have a cumulative market share of 47.79%, according to the US National Association of Insurance Commissioners (NAIC). In its report, The Property/Casualty Market Share, the NAIC publishes data on US property/casualty insurers, providing market share information and identify leading insurance writers in several key lines of business. The report reveals that with…

China’s regulator orders insurers to strengthen supervision of their brokers

China’s regulator orders insurers to strengthen supervision of their brokers

China’s regulator orders insurers to strengthen supervision of their brokers

The China Banking and Insurance Regulatory Commission (CBIRC) has ordered insurance companies to strengthen supervision of their intermediary partners such as agents and brokers, according to a report in Caixin Daily. The Chinese publication said the move was part of an effort “to impose order on a chaotic and largely unregulated sector of the industry”. CBIRC stated in a notice…