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AXA XL appoints Jonathan Salter as Head of Risk Consulting

Nancy Bewlay, Global Chief Underwriting Officer at AXA XL, said: “As the COVID-19 crisis continues to challenge the way companies operate, loss prevention has never been more important. Jonathan’s extensive experience, innovative approach and proven track record position him ideally to lead AXA XL Risk Consulting, which has, since March, been offering remote services, including site analysis. Our remote, tech-enabled capabilities have been extremely well received by clients and now form a key part of our product suite.”    

Peak Re appoints Andrew Souter as Director of Markets

Commenting on the new appointment, Franz Josef Hahn, Chief Executive Officer of Peak Re, said “Andrew’s extensive experience working with the capital markets and strong client relationships with global insurers will strengthen our ILS capabilities and will help us to continue to bring unique and innovative (re)insurance solutions to both our customers and investors as we expand further as an organisation”

Top shipping insurance group will not cover ships for Russia, Turkey pipelines projects

U.S. President Donald Trump’s administration has sought to curb the Kremlin’s economic leverage over Europe and Turkey and has warned investors in the two natural gas pipelines could face sanctions.

The International Group of P&I Clubs represents the world’s top 13 ship insurers and covers nearly 90% of the world’s ocean-going tonnage. The notice carried by its members said that all clubs had issued similarly worded circulars regarding Nord Stream 2 and TurkStream.

Led by Russia’s Gazprom, the $11 billion Nord Stream 2 pipeline project to double the capacity of the existing Nord Stream 1 link is more than 90% complete and scheduled to begin operating next year.

IMF official warns coronavirus will weigh on some economies for years

The Fund has provided some $90 billion in total financing to 79 countries, including 20 in Latin America, since the start of the health crisis, an IMF spokeswoman said.

It is continuing to work with member countries on how to contain the pandemic and mitigate its economic impact, First Deputy Managing Director Geoffrey Okamoto told an online event hosted by the Center for Strategic and International Studies.
Okamoto told that Fund officials were in talks with the Group of 20 major economies about extending a temporary halt in official bilateral debt service payments by low-income countries under the Debt Service Suspension Initiative (DSSI), and how to kickstart private sector participation.

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