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…
Bottlenecks in European and global supply chains caused by the Covid-19 pandemic will significantly deepen the economic crisis faced by EU nations and plunge the bloc into a worse recession than in 2009, according to Oxford Economics, the UK-based global forecasting and quantitative analysis firm. Its latest analysis finds that for the EU, intra-bloc trade is vital and shutdowns will…
Zurich Insurance Group will roll out its new marine insurance platform for small and medium cargo, after a successful introduction last year in markets including Spain, Germany, Singapore and Mexico. The platform will now to be extended to North America, the Nordics and further countries in Latin America later this year. The Zurich Swift Insurance Platform offers web-based access to…
A class action lawsuit has been filed on behalf of Miami-based Norwegian Cruise Line Holdings (NCL) shareholders, claiming that the company violated securities laws by making “blatantly false” statements about Covid-19 to entice customers to book cruises, thus endangering the lives of both their customers and crew members. Rosen Law Firm, a Florida-based global investor rights law firm, has announced…