Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

A clear majority of board directors and general counsels (GCs) agree corporate risk has increased significantly in the past two to three years, and 30% fear their business is not prepared to tackle the most serious issues, according to a new report from Clyde & Co and Winmark. The report is based on a survey and compares views of risk…

Generali reports strong 2018 results but GC&C hit by big claims

Generali reports strong 2018 results but GC&C hit by big claims

Generali reports strong 2018 results but GC&C hit by big claims

Generali has delivered a strong set of 2018 results and group CEO Philippe Donnet was pleased to reveal that the Italy-based international insurance group has exceeded all targets in its 2015 to 2018 strategic plan. The only real blackspot on the figures was delivered by the group’s corporate insurance arm – Generali Corporate & Commercial (GC&C). It was hit by…

China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

China and North Korea adding to new levels of political risk, warns Marsh

Multinationals face “unprecedented uncertainty” caused by growing political risk, Marsh warned on publishing its Political Risk Map 2019. Marsh added that trade disputes, protectionism and geopolitical tensions have created an “unstable” environment for multinational companies with direct foreign investment. The updated Political Risk Map uses data from Fitch Solutions to rate more than 200 countries’ political, economic and operational stability.…

Small decline in credit and political risk capacity, report finds

Small decline in credit and political risk capacity, report finds

Small decline in credit and political risk capacity, report finds

Capacity in the credit and political risk insurance (CPRI) market is down slightly in 2019 but non-trade credit capacity has seen an increase, according to BPL Global’s Market Insight 2019 report. BPL Global said there have been some casualties in terms of insurance providers, but even with the decision of a few insurers to discontinue writing CPRI in 2018, there…

Munich Re returns to strong profit in 2018 as ERGO performs well

Munich Re returns to strong profit in 2018 as ERGO performs well

Munich Re returns to strong profit in 2018 as ERGO performs well

Munich Re recorded €2.28bn profit last year, following 2017’s nat cat-hit €392m. The company’s numbers were boosted by primary business ERGO, which exceeded targets to book €412m of profit; and its reinsurance business, which recorded profit of €1.87bn – up from €120m in 2017. Munich re said ERGO put in a “very good operational performance” for the year, particularly in…

BGC completes Ed Broking buy

BGC completes Ed Broking buy

BGC completes Ed Broking buy

Broker BGC has completed the acquisition of Lloyd’s broker Ed Broking Group, which will now become part of BGC’s insurance division that was formed in 2017 with the acquisition of Besso Insurance Group. CEO of Ed Broking Steve Hearn will become head of BGC’s insurance division and report directly to Shaun Lynn, president of BGC Partners. Ed Broking will add…

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