The Covid-19 pandemic had a significant but not unexpected impact on dealmaking in the first six months of 2020, with global M&A activity falling to its lowest level in more than a decade according to Willis Towers Watson (WTW). However, this was largely driven by North America, which saw the lowest number deals for a six-month period since 2009, while…
Veolia’s Oliver Wild has been named as AMRAE’s new president, taking over the reins from Brigitte Bouquot after five years. Mr Wild, risk, insurance and internal control coordination director at Veolia, was first appointed to the AMRAE board as director in May 2016. Ms Bouquot, who is president of the Permanent Scientific Committee and administrator of Thales insurance companies, will…
Buyer and broker representative bodies have hit back at claims that conflicts of interest are to blame for the growing number of disputed business interruption (BI) claims arising from the coronavirus pandemic. Insurance claims consultant Mactavish argues that legal disputes over Covid-19 BI claims have raised questions around the role of the broker as an adviser to insureds and potential…
A new report from the Bermuda Monetary Authority (BMA) notes that the island’s captive sector appears to be resilient and continued growth is expected, with both longstanding exposures and emerging risks being underwritten. The BMA Captive Report 2019 states that the authority’s review of 2018 data demonstrates the continued strength of the Bermuda captive market through its ability to pay…
Randall & Quilter Investment Holdings has acquired a captive insurer domiciled in Vermont. This is the third captive acquisition in 2020 by the run-off specialist.
New research from Airmic shows that UK organisations were caught off guard by Covid-19 but suggests the crisis provides a real opportunity for risk managers to prove their worth. It also finds that insurers risk a flight to alternative risk transfer if they mishandle the pandemic. The Top Risks and Megatrends 2020 report is based on Airmic’s annual member survey that…
Airmic has welcomed Lloyd’s’ pandemic resilience proposals that include a government-backed non-damage business interruption (NDBI) solution to help companies mitigate losses from Covid-19 and future viruses. Airmic said buyers have worked with Lloyd’s to develop three initiatives put forward and welcomed the collaboration as “vital” during such a “far-reaching crisis”. The UK risk and insurance management association said businesses are…
African countries are battling the economic fallout of Covid-19 as much as the disease itself, according to a new report from Control Risks on the political and security risks across the continent. As part of a global sweep of the challenges facing countries post-Covid-19, the report shows that, for example, pockets of the Democratic Republic of Congo have risen to…
The Covid-19 pandemic has heightened political and economic risks, with a bungled recovery and threat of economic paralysis meeting political weakness the top threats, warns Control Risks in a special edition of its Risk Map 2020. Control Risks has also raised the operational risk level for several European countries following Covid-19. This includes the UK, Spain and Germany, which all…
Global trade is predicted to shrink by 15% this year as almost all countries around the world enter recession following the impact of Covid-19 on economies, according to trade credit insurer Atradius. Publishing its economic outlook, Atradius said it expects global GDP to contract by 5% in 2020 and stage a recovery in 2021 with a forecast of 6.5% growth,…