Risk Management News

AIG Acquires Controlling Stake in ING Employee Benefits Global Network

American International Group Inc. has acquired a controlling stake in ING Employee Benefits Global Network and renamed it AIG Global Benefits Network. The network is based in Belgium. The network’s minority shareholders are Nationale-Nederlanden in the Netherlands and France’s Malakoff Mederic. Terms …

Swiss Re’s New SONAR Report Identifies Top Emerging Risks

De-globalization and political conflict, large natural catastrophes, financial repression and the challenge posed by the “Internet of Things” are some of the risks identified in this year’s “New emerging risk insights” report published by Swiss Re. The publication is based …

Two-Thirds of UK SMEs Not Aware of D&O Insurance: Allianz Research

Two-thirds of small and medium business leaders in the United Kingdom are not aware of what directors & officers insurance is, according to new research by Allianz Insurance, one of the largest general insurers in the UK and part of Allianz …

ACE Appoints Hamzah as Regional Medical Malpractice Manager, Asia

ACE Group has appointed Kamal Hamzah as regional medical malpractice manager for Asia, a newly created position, as it continues to expand its financial lines product portfolio in the region to include medical professional liability. Hamzah will spearhead the development and …

Iran Flexes Military Muscle in Persian Gulf, Amid Rising Tensions

With tensions over its roles in Yemen, Iraq and Syria already high, Iran is flexing its military muscle in the Persian Gulf. For the third time in as many weeks, Islamic Revolutionary Guard Corps patrol boats have fired at or …

Marsh Appoints Porter-Wright as Leader of UK Specie Division

Marsh has appointed Marcus Porter-Wright as leader of its UK Specie Division. Porter-Wright will lead Marsh’s team of 30 specialists, which provides insurance and risk management advice to clients globally concerning highly valuable property, cash in transit, precious metals and precious …

Iranian Boats Fired Shots Across Bow of Singapore-Flagged Ship in Persian Gulf

Four Iranian patrol boats fired warning shots across the bow of a Singapore-flagged merchant ship in the Persian Gulf on Thursday before it escaped into the territorial waters of the United Arab Emirates, according to the U.A.E.’s coast guard. “The …

Growing Yemen War Risk Threatens Vital Sea Routes; Premiums Likely to Jump

With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb and …

RSA Global Consulting Appoints Schofield as Power Industry Expert

Simon Schofield, chartered mechanical engineer and power generation expert has joined RSA, one of the largest U.K. commercial insurers, as a risk engineering consultant, within its Global Consulting division. Schofield joins from RWE npower to complement RSA’s team of risk …

Shareholders Seek Clues to Allianz’s Plan for Pimco from New CEO

Allianz shareholders will see new CEO Oliver Baete installed on Wednesday and will be eager for any clues about his strategy for Europe’s largest insurer – and how he plans to improve the prospects of its asset manager Pimco. California-based …