AIG creates sustainability role as it publishes first climate disclosure report

AIG creates sustainability role as it publishes first climate disclosure report

AIG creates sustainability role as it publishes first climate disclosure report

AIG has appointed Jennifer Waldner to a newly created chief sustainability officer position, where she will lead and implement a sustainability strategy across the firm. Ms Waldner begins the role immediately and will report to Thomas Leonardi, AIG’s executive vice-president. AIG said the new role coincides with its inaugural Task Force on Climate-related Financial Disclosures (TCFD) report. It aims to provide…

Aon appoints EMEA managing director for captive business

Aon appoints EMEA managing director for captive business

Aon appoints EMEA managing director for captive business

Vincent Barrett has been appointed as regional managing director, EMEA, of captive and insurance management business. He was previously chief commercial officer and in his new role will assume responsibility for leading the group’s regional operations in EMEA. According to Aon, he will be based in Dublin and continue to report to John English, chief executive officer, captive and insurance…

ICA welcomes new approach on building standards but more needed

ICA welcomes new approach on building standards but more needed

ICA welcomes new approach on building standards but more needed

The Insurance Council of Australia (ICA) has welcomed an agreement reached between the states and territories, allowing the Australian Building Codes Board (ABCB) to implement a nationally consistent set of building standards, describing it as a “step in the right direction”. However, ICA CEO Rob Whelan added that action is now “urgently required” to restore confidence in the building and…

Norsk Hydro adds to cyberattack losses in Q2 as total approaches €80m

Norsk Hydro adds to cyberattack losses in Q2 as total approaches €80m

Norsk Hydro adds to cyberattack losses in Q2 as total approaches €80m

The cyberattack that halted production at aluminium producer Norsk Hydro in March is estimated to have cost the firm a further NOK250m-NOK300m (€26m-€31m) in Q2, adding to the NOK400m-NOK450m (€41m-€47m) already booked in the first quarter. Norsk Hydro’s combined losses from the cyberattack for Q1 and Q2 total up to €78m. Disclosed as part of its second-quarter results, Hydro said…

Moody’s says no-deal Brexit risk increased by election of Johnson

Moody’s says no-deal Brexit risk increased by election of Johnson

Moody’s says no-deal Brexit risk increased by election of Johnson

Moody’s Investors Service said the chances of a no-deal Brexit have increased following the election of Boris Johnson as Conservative party leader. Following the rise to power of pro-Brexit Mr Johnson, Moody’s said the likelihood of a sustainable Brexit compromise looks lower. Mr Johnson has already threatened to leave the EU on 31 October “do or die”, with or without…

Labuan IBFC, SRCS and Parima team up to promote captives in Asia

Labuan IBFC, SRCS and Parima team up to promote captives in Asia

Labuan IBFC, SRCS and Parima team up to promote captives in Asia

Parima is supporting a conference organised by the Labuan International Business and Financial Centre (Labuan IBFC) and Swiss Re Corporate Solutions (SRCS) on 7 August in Kuala Lumpur, entitled ‘Adding Confidence to Captives: Managing Volatility via Self Insurance’. Global broker and captive manager Marsh reported in March 2019 that growth in the use of captives in the Asia-Pacific region and…

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister denies corruption charges which name Italian construction firm

Kenya’s finance minister Henry Rotich has pleaded not guilty to corruption charges involving construction of two dams and Italian company CMC de Ravenna. He has also placed a newspaper ad, denying corruption. President Uhuru Kenyatta made a pledge to drive corruption out of government as part of his elections promises. Mr Rotich is reported to have surrendered himself to the…

European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

European flights to Cairo suspended as terror risks escalate

British Airways (BA) and Lufthansa suspended flights to Cairo, after warnings of escalated terror threats to the Egyptian capital, particularly for aviation. Lufthansa has now resumed flights but BA has said it will reconsider flights after a further week of suspension. BA said it made the move as a security “precaution” but gave no details. A BA spokesperson said: “We…

East African risk managers partner with Serianu to grow local cyber risk talent

East African risk managers partner with Serianu to grow local cyber risk talent

East African risk managers partner with Serianu to grow local cyber risk talent

In a bid to develop cyber risk talents, the Institute of Risk Management East African region is to partner with Serianu to boost cyber risk expertise. The East African region is reported to be facing a huge deficit of qualified risk managers, while local public and private organisations need critical hand-holding to ensure risks and opportunities within organisations are effectively…