K Rajaraman, chairman, International Financial Services Centre...
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Aon appoints Magnus Roe as global chief data and analytics Officer based in Singapore
Magnus Roe, global chief data and analytics officer, Aon This...
Emerging-risk resilience: Majority of APAC risk leaders concerned about their organisations in the next decade
Geopolitical issues, natural catastrophe events, climate transition...
IFC mobilises $2B in credit capacity from insurers to expand lending to FIs
AXA XL, Aspen Insurance, Everest Insurance®, Liberty Specialty Markets, Munich Re and Tokio Marine HCC are giving IFC the ability to significantly scale up its lending operations to emerging market financial institutions over the next four years.The initiative will allow IFC to increase its medium- and long-term lending to commercial banks and non-bank financial institutions in emerging markets by up to $5 billion.
Fidelis, Aon and Marsh develop Marine Cargo Clause aiming to combat modern slavery
“Forced labor in all its forms is an extreme expression of inequality and injustice. The insurance industry is committed to do all it can to prevent association with the abhorrent practices of modern slavery. We sometimes think that slavery is a thing of the past, but it is not – it is real and present in all societies and we want to do our part to root it out,” said Charles Mathias, group executive director & group chief risk officer, Fidelis Insurance.
Swiss Re appoints Thierry Léger as Group Chief Underwriting Officer, announces changes to Life Capital Business Unit
Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “The changes announced today will position Swiss Re well for the next chapter of the Group’s strategic development. Having grown dynamically over the past years, iptiQ is on track to becoming a leading player in its field. And being part of Corporate Solutions will open further growth opportunities for elipsLife. In underwriting, we will continue to evolve our capabilities through cutting-edge research, access to more and better data and advanced analytics.“
China says one-fifth of Belt and Road projects ‘seriously affected’ by pandemic
Over 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure. According to a Refinitiv database, over 2,600 projects at a cost of $3.7 trillion are linked to the initiative.
The challenge of the pandemic to BRI projects follows a pushback in 2018, when officials in Indonesia, Malaysia, Sri Lanka and elsewhere criticized projects there as costly and unnecessary.
Allianz Global Corporate & Specialty SE realigns key roles in its Board of Management
With effect from July 1, 2020, the number of Chief Regions & Markets Officers (CRMO) on the AGCS SE Board of Management will be reduced from three to two: Henning Haagen, current Chief Underwriting Officer Specialty, will assume responsibility for all AGCS regional units outside North America as Chief Regions & Markets Officer Regional Group 1, including Africa, Asia Pacific, Central & Eastern Europe, Mediterranean Region, Regional Unit London, and South America. As Chief Regions & Markets Officer Regional Group 2, Bill Scaldaferri will continue to head the North America Regional Group. Each CRMO will be responsible for approximately half of AGCS’ business in terms of gross premium income of EUR 9.1 billion in 2019.
Insurers cite Swedish example in bid to dodge Covid-19 biz income payouts
The court case is one of a number of battles across the world, where insurers and clients are fighting over whether coverage extends to measures taken by governments to halt the spread of coronavirus. In France, AXA SA was ordered by a Paris court last month to compensate a restaurant owner for two months of virus-related losses.
Trump administration to propose rolling back protections for big tech
Trump wants to “remove or change” a provision of a law known as Section 230. Under the 1996 Communications Decency Act, Section 230 does not generally hold platforms responsible for what their users post and allows them to moderate the content of their sites as they see fit.The Justice Department plans to make a legislative proposal that Congress would have to pass, according to the Wall Street Journal, which first reported the proposal.
S&P affirms SCOR’s ‘AA-’ rating with ‘stable outlook’, recognises group’s ability to absorb COVID-19 pandemic shock
Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented “We welcome Standard & Poor’s decision to affirm SCOR’s Financial Ratings. This decision demonstrates the Group’s ability to offer its clients an optimum level of security and the resilience of its business model, particularly in the current pandemic crisis. It also clearly reinforces the relevance of our strategy as a global Tier one reinsurer”.
Lloyd’s of London to pay for its ‘shameful’ sins in Atlantic slave trade
“We are sorry for the role played by Lloyd’s market in the 18th and 19th Century slave trade – an appalling and shameful period of English history, as well as our own,” Lloyd’s said.
“Our strategy is to increase footprint in the developed economies while maintaining and growing market share in our part of the world”
In an exclsusive interview with Asia Insurance Post,Reena Bhatnagar,General Manager and Joint Charge of CMD, GIC Re, speaks about listed reinsurer’s strategies to expand its global foot print and to make the listed company a tech-savvy and profitable entity