enterprise risk management News

Tokio Millennium Re Appoints Kull as Chief Risk Officer

Zurich-based Tokio Millennium Re AG (TMR) has appointed Andreas Kull to the role of chief risk officer (CRO) and member of the executive committee, effective immediately. Andreas Kull will succeed Akira Higuma, current CRO, who after five years at TMR …

Chubb Offers ‘Cyber Enterprise Risk Management’ Solution for European Clients

Chubb announced the launch of Cyber Enterprise Risk Management, as the company continues to invest in its cyber risk capabilities across Europe. Cyber Enterprise Risk Management as “an end-to-end risk management solution, designed to meet the needs of middle-market and larger …

Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P

Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services, despite the many competitive pressures it …

A.M. Best Explains Its Rating Fundamentals for Hedge Fund Reinsurers

Since the Aug. 11, 2015 withdrawal of PaCRe Ltd.’s financial strength rating and issuer credit rating at the company’s request, A.M. Best said there has been considerable speculation about A.M. Best’s view on these hedge fund-sponsored reinsurers. A.M. Best said …

Survey of Global Executives Reveals Business Threat of Poor Risk Oversight

Businesses are putting themselves in danger by neglecting or avoiding formal risk management processes, according to a new study by the Enterprise Risk Management Initiative at North Carolina State University on behalf of the London-based Chartered Institute of Management Accountants …

Casualty Catastrophes Threaten (Re)Insurers’ Balance Sheets: Guy Carpenter

The “casualty catastrophe” is perhaps the most daunting threat that casualty (re)insurers face today, according to GCCapitalIdeas.com, Guy Carpenter’s thought-leadership blog. Casualty (or liability based) catastrophes have become increasingly frequent and severe over the past decade, exposing (re)insurers to much more risk …

NAIC Working Group Recommends Bermuda as Qualified Jurisdiction

A working group of the National Association of Insurance Commissioners (NAIC) has recommended the Bermuda Monetary Authority (BMA) for approval as a “qualified jurisdiction” under the NAIC’s reinsurance regulatory modernization framework. The recommendation, if approved, would reduce collateral requirements for …

A.M. Best Affirms Ratings of Munich Re and Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries. Concurrently, A.M. Best has affirmed all debt ratings of Munich …

A.M. Best Assigns A- (Excellent) Rating to Kelvin Re in Guernsey

A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Kelvin Re Limited (Guernsey). The outlook assigned to both ratings is stable. The ratings reflect Kelvin Re’s strong capitalization, diversified projected business profile within …

A.M. Best Upgrades Ratings of Mapfre Panamá

A.M. Best upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit rating to “a” from “a-” of Mapfre Panamá S.A., Panama City, Panama. The outlook for both ratings is stable. The upgrade of the ratings …