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Michael Wyss becomes DUAL Swiss Managing Director
17th July 2024
DUAL Europe has announced the appointment of Michael Wyss as Managing Director of DUAL Swiss, bolstering the company’s leadership team as the business positions itself to grow its market share in Switzerland. DUAL Swiss’s primary lines of business include Engineering & Construction, Financial Lines, Cyber, Fine Art & Specie, and M&A. As ... Read the full article
FERMA Policy Manifesto proposes enhancements for EU resilience and competitiveness
16th July 2024
FERMA, the Federation of European Risk Management Associations, has published its EU Policy Manifesto, outlining its priorities for policymakers in EU Institutions for the upcoming 2024-2029 mandate and explains how the Federation can support these initiatives. Typhaine Beaupérin, CEO, FERMA stated: “We will use our Manifesto to provide a robust basis ... Read the full article
Parametrix secures $50m parametric cloud outage coverage for US retail chain
12th July 2024
Earlier this week, Parametrix, a provider of cloud monitoring, modeling, and insurance services, successfully secured a $50 million parametric cloud outage coverage for a US retail chain. As announced by Parametrix's Chief Commercial Officer, Sharon Haran, this innovative coverage provides the client with protection against Amazon Web Services (AWS) outages during ... Read the full article
Insurance Europe publishes manifesto outlining industry’s priorities for EU Union
11th July 2024
Insurance Europe, the association representing insurance and reinsurance companies, has published its manifesto that outlines the insurance industry's strategic priorities aimed at making the European Union more more prosperous, resilient, and competitive. The industry calls on EU policymakers to reduce protection gaps, continue to tackle climate change, increase private investment, and ... Read the full article
Daisy Lopez joins CFC USA as Senior Executive Underwriter
11th July 2024
CFC, an insurance provider specialising in emerging and cyber risks, has announced the appointment of Daisy Lopez as Senior Executive Underwriter for CFC USA. In her new role, Lopez will lead the expansion of CFC’s new mid-market cyber division in the US. Shannon Groeber, CEO at CFC USA, commented, “This is an ... Read the full article
Businesses must do better to understand complexity of Business Email Compromise: GC
10th July 2024
Business Email Compromise (BEC), a form of phishing that involves attackers manipulating individuals into unintentionally facilitating fraudulent activities, an often overlooked cyber threat, is considered to be one of the most financially damaging cyber threats across the sector, according to Guy Carpenter, the global risk and reinsurance specialist and business ... Read the full article
AXA XL reveals changes to large commercial business & Client/Distribution team
9th July 2024
AXA XL has announced several new appointments in its Large Commercial business unit and on its Client and Distribution team, which comes following the recent reorganisation of its Americas insurance operation. Donnacha Smyth has been appointed Chief Underwriting Officer, Casualty, also assuming underwriting management of both Primary Casualty and Excess ... Read the full article
AXA XL Canada names new Head of Client & Distribution and CUO Large Commercial
8th July 2024
AXA XL has announced two new underwriting and distribution leadership roles in Canada, James Lee as Head of Client & Distribution and Alex Barker as Chief Underwriting Officer Large Commercial. Lee, who has also been appointed Chief Agent for AXA XL Canada, will be focused on cultivating strong partnerships with clients ... Read the full article
Several macro forces can drive corporate progress between now and 2026: Mayer Brown
8th July 2024
Financial leaders brace for change to address multiple threats as they face significant gaps in organisational preparedness for successful business transformation, a recent Mayer Brown study has found. "The Next Organization: Seven Dimensions of Successful Business Transformation (A Financial Services Report), which includes insights from 197 leaders from financial services firms, ... Read the full article
Identifying minor risks to prevent future challenges: Raaflaub, Swiss Re
5th July 2024
Patrick Raaflaub, Group Chief Risk Officer at Swiss Re, emphasises the importance of promptly identifying minor risks and initiating early discussions on effective management strategies to prevent them from becoming unmanageable in the future. Raaflaub illustrates this point with the Schweizerhalle catastrophe, which, nearly four decades later, still demonstrates the consequences ... Read the full article
FERMA President outlines plans to advance European risk management
5th July 2024
Charlotte Hedemark, President of The Federation of European Risk Management Associations (FERMA), outlined plans to advance its strategic priorities: expanding its advocacy capacity, establishing leadership and emphasising value, and becoming a more agile and dynamic federation. During the firm’s General Assembly, Hedemark stated, “FERMA will continue to amplify the role of ... Read the full article
EU “Goldilocks environment” to keep risks low, M&A a potential challenge: Berenberg
4th July 2024
The current “Goldilocks environment”, a macro environment of moderate growth, moderate inflation and moderate interest rates according to Berenberg, will allow insurers in the European Union (EU) to deliver on their strategic plan targets. Berenberg analysts arrived at this conclusion following the publishing of the Financial Stability Report by EIOPA, the ... Read the full article
WTW reveals enhanced investment management insurance solution, IMI Plus
3rd July 2024
Global advisory, broking, and solutions company WTW has revealed the introduction of IMI Plus, an enhanced investment management insurance solution designed to meet the needs of all kinds of asset managers, including wealth managers, hedge funds, private equity firms and real estate strategies. As per WTW, IMI Plus ensures "thorough and ... Read the full article
Howden Re Japan launches, broker partners with Keystone ILS Capital
3rd July 2024
Howden, a global insurance intermediary group, has entered the Japanese market with the launch of Howden Re Japan, and also announced a new insurance-linked securities (ILS) partnership with Keystone ILS Capital, a boutique consultancy focused on catalysing more active use of ILS in Japan. With Kentaro Tada as Chief Executive ... Read the full article
A huge $8.4bn of catastrophe bond issuance in Q2 takes market to record size: Report
2nd July 2024
A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion, according to Artemis' latest quarterly market report. Read the full article
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