New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

Netherlands, Germany and UK record most GDPR breach notices

More than 59,000 personal data breaches have been reported across Europe since the introduction of the General Data Protection Regulation (GDPR), with the Netherlands, Germany and UK most affected, according to new analysis from DLA Piper. Despite this, only 91 GDPR fines have been imposed, but the law firm expects higher numbers in 2019…

Consumers see viruses and insurers as weak points in fight against cyber risk

Consumers see viruses and insurers as weak points in fight against cyber risk

Consumers see viruses and insurers as weak points in fight against cyber risk

Insurers are less trusted by consumers than banks and credit card companies to protect against cyber risk, according to a new survey from Europ Assistance conducted by LEXIS. In Europe, 62% of respondents trusted insurers in the fight against cybercrime, behind credit card providers at 65% and banks at 71%. Across all European countries surveyed – Italy, France, Spain, Switzerland,…

Payment delays increase for European firms

Payment delays increase for European firms

Payment delays increase for European firms

European businesses recorded a further increase in the number of overdue invoices in 2018 with 41.8% of payments outstanding, according to trade credit insurer Atradius. The average pushed up from 40.7% in 2017 after all of 14 European countries surveyed except Germany, Ireland and the UK recorded deterioration in B2B receivables…

Swiss Re suffers $1.1bn nat cat losses in Q3

Swiss Re suffers $1.1bn nat cat losses in Q3

Swiss Re suffers $1.1bn nat cat losses in Q3

Third-quarter natural catastrophe losses will cost Swiss Re $1.1bn, net of retrocession and before tax. Although high for a single quarter, Swiss Re said overall losses are in line with expectations for the year to date. Claims from Typhoon Jebi in Japan account for almost half of Swiss Re’s total bill at $500m, while Hurricane Florence in the US is…

LSM appoints deputy country manager for Switzerland

LSM appoints deputy country manager for Switzerland

LSM appoints deputy country manager for Switzerland

Liberty Specialty Markets (LSM) has appointed Markus Hefel as deputy country manager for Switzerland. Mr Hefel will be based in Zurich and report to LSM’s general manager for Switzerland Felix Böni. Mr Hefel joins LSM from Ironshore, where he was country manager for Switzerland and senior underwriter for liability and accident. He has previously served as country manager for Switzerland…

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