The way many companies report their risk management activity is opaque, lacking in detail and detached from overall corporate strategy, according to the risk management association Airmic and the Institute of Chartered Secretaries and Administrators (ICSA).
Experts have highlighted the growing importance rating agencies place on strong enterprise risk management (ERM) within reinsurers and how this criterion is now of critical importance for certain reinsurance groups.
Governments must get better at preparing for and managing natural catastrophe risks if they are to reduce risk. That is the opinion of Nikolaus von Bomhard, CEO of Munich Re and former chairman of the Geneva Association – an economic think tank, which held a press briefing in London to coincide with its 40thanniversary.
The abundance of alternative capacity that has entered the reinsurance industry in recent years will stay and may well prove of significant benefit to buyers.
Tokio Solution Management, a subsidiary of Tokio Millennium Re, and GC Securities have launched a private catastrophe bond platform called the Tokio Tensai Platform.
International insurer, Hiscox, has appointed Jeremy Pinchin as CEO for Hiscox Re. This appointment is the first step in a plan to merge Hiscox’s reinsurance functions in London, Paris and Bermuda, into a single business unit.
Reputation, efficiency and excellent client service are some of the qualities respondents say they seek in business partners across all areas of the reinsurance industry, according to a recent snapshot of answers received by researchers working on Intelligent Insurer’s annual Global Awards Survey.
AXIS Accident & Health, a division of Bermuda-based AXIS Capital Holdings, has appointed Richard Phillips as senior vice president, chief underwriting officer of its North American Reinsurance Division.
TigerRisk Partners, the reinsurance broking and risk/capital management firm, has appointed James Dowd, one of the founders of Odyssey Re, to lead its expansion into international markets.
The board of directors of Willis Group has nominated Francisco (Paco) Luzón and Jaymin Patel to become directors of the company. These nominations complete the slate of directors that will be presented to Willis Group shareholders at the company's upcoming annual general meeting.