Guy Carpenter & Company has made a major strategic investment in a new venture designed to help develop business in Greece, Cyprus and adjacent countries.
Flooding caused by rising sea levels linked to climate change will become a significant threat to society in the future causing great challenges around risk management, according to a report by Guy Carpenter which an analyses the evolving risk landscape spurred by global warming.
Global reinsurance capital totalled $510 billion at June 30, 2013, an increase of 1 percent ($5 billion) relative to December 31, 2012, according to Aon Benfield in the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial results of the world’s leading reinsurers in the first half of 2013.
Barbican Group Holdings has appointed David Slade as an underwriting manager within the firm’s property division. He will report to James Winn, active underwriter, Syndicate 6113.
Canopius Group has appointed Barbara Turner as group head of Human Resources. She takes up her new position with immediate effect.
Karen Quintana has been appointed as vice president and client distribution leader for XL Group’s North America Distribution and Network team in San Francisco. Quintana will report to Frank Soldano, XL Group’s regional leader – west.
Liberty Mutual Insurance (LMI), the commercial lines division of Liberty Mutual Insurance Europe (LMIE), has invested in growing its commercial casualty operation with an internal promotion and two new appointments.
A growing percentage of the population are increasingly risk aware and concerned about how threats such as climate change, natural disasters and even crime, disease and hunger could affect them directly in the future. They also believe governments should be doing more to deal with these risks
Changes proposed under Solvency II, Own Risk and Solvency Assessment (ORSA) and other European directives have been positive for the insurance industry overall but as continue to strengthen compliance procedures insurers must utilise technology to drive through efficiencies and deliver income for their legacy book of business.
Ascent Underwriting, an MGA specialising in emerging risks, has launched a general liability coverage extension to enhance cover for small and mid-market business clients.