A global task force set up to try to prevent market shocks from the warming of the planet will ask companies to disclose how they manage risks to their business from climate change and greenhouse gas emission cuts. Although the …
CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a payout of US$1.1 million to the government of Nicaragua as a result of damages from Hurricane Otto. Damages triggered a CCRIF payment on the country’s tropical cyclone policy, which …
Guy Carpenter & Co. announced a newly created Global Strategic Advisory organization comprised of its Advisory, Analytics, Structured Risk, M&A Advisory, Lloyd’s Capital and Business Intelligence capabilities. Rob Bentley has been appointed president of Global Strategic Advisory. He re-joins Guy …
Assicurazioni Generali’s board of directors has appointed Marco Sesana as country manager of Italy. He will also retain the position of chief executive officer of Generali Italia. Marco Sesana joined Generali Italia in 2013 as chief operating officer and was …
The outlook for the reinsurance sector is being held at negative by A.M. Best, which cited continuing market challenges that will hinder the potential for positive rating actions and may eventually bring negative rating pressures. The strain on profitability is …
Cyber attacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of $81 million from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to a SWIFT official and a …
Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top police investigator in Dhaka told Reuters on Monday. …
Underwriters at Lloyd’s of London lost money in 2016, driving the 90-plus syndicates in the insurance market to be more selective in the risks they take on and forcing Lloyd’s to cut its subscription rates. To tackle the downturn in …
Guy Carpenter & Co. announced the appointment of James Nash to the newly created role of president, International, subject to regulatory approval. Nash, who currently runs Guy Carpenter’s Asia Pacific operations, will continue reporting to Peter Hearn, president & CEO …
A division of Tokio Millennium Re focused on third party capital markets facilitation is changing its management structure in a bid to boost efficiency. The changes are coming to Tokio Solution Management Ltd., the reinsurer’s third party capital (TPC) markets …
