AXA XL has appointed Bruno Laval as chief distribution officer for Asia and Europe, and regional manager of European markets, under its new regional model. The firm has also named a new chief underwriting officer for the region and appointed heads in France, Germany, Switzerland and Asia-Pacific. Mr Laval, who was previously AXA XL Insurance’s regional manager for Europe, will…
Ferma has elected a new board headed by president Dirk Wegener. Lene Ritz, of Denmark’s Narim and CRO for Energinet, was appointed as a new board member. So too was Simon Grima from Malta’s Marm. Mr Grima is head of the department of insurance, faculty of economics, management and accountancy at the University of Malta. The remaining five Ferma board…
Swiss Re Corporate Solutions (SRCS) has added Finnish insurer LocalTapiola to its International Programme Administration (IPA) platform, which uses computer software to manage multinational insurance programmes for corporate customers. Under the deal with LocalTapiola, SRCS said it will also give the insurer access to its network of 150 local offices and network partners. This is designed to help LocalTapiola grow…
Nordic Capital has signed an agreement to acquire Max Matthiessen from Willis Towers Watson. Max Matthiessen is a leading financial adviser within pensions, insurance and investment in the Nordic region, headquartered in Stockholm. The terms of the transaction were not disclosed and it is subject to customary regulatory approvals. According to Nordic Capital, an investor in the financial services sector:…
Willis Towers Watson (WTW) has named Johan Forsgård as leader of its new Nordic regional structure. As head of Nordics he will manage the newly formed regional unit at WTW that now includes Sweden, Finland, Denmark and Norway. Mr Forsgård was previously head of Sweden and Finland at the broker. He will carry out his new role from Stockholm. Anne…
European countries are some of the most resilient business environments in the world, according to FM Global’s 2020 ranking, which puts them ahead of the pack in staging a recovery from the current Covid-19 pandemic. FM Global says resilience “is never more critical than in a world shocked by pandemic”. It adds that the higher-ranked countries in its 2020 Resilience…
Insurance rate hardening accelerated in Q1 with Covid-19 impacting some regions, according to a new report from Aon that found Europe recorded rate increases of more than 10% in the first few months of 2020. The market has also tightened on terms and capacity, Aon says, with higher risk placements “very challenging” in Europe. Aon adds that insurers have retreated…
RMS has launched a new model for convective storms in Europe, which caused €12bn of insured losses between 2013 and 2019. The model covers a range of severe convective storm events, including localised tornadoes and hailstorms. It models property and motor policy losses. The European Severe Convective Storm High Definition Model covers 17 countries where the risk of severe convective…
Supply chain security will be the top priority for businesses looking to stabilise their operations post-Covid-19, according to PwC’s latest coronavirus impact report. “Most CFOs are still considering cost containment measures, but they are also planning various actions around work sites, supply chains and investments that will position their company to succeed in the post-crisis world,” PwC says. In a…
Global Insurance Law Connect (GILC), an alliance of insurance law firms, has launched the second edition of its annual Risk RADAR report, a global review of the important legal, regulatory and socioeconomic issues facing insurers across the globe. The report highlights a number of key issues, common across many countries, including the impact of climate change and the global contraction…