reputational risks News

Directors and Officers Face Significantly Higher Range of Risks: Allianz Report

The range of risks facing company executives, or directors and officers (D&Os), has increased significantly in recent years along with resulting insurance claims, according to a report published by Allianz Global Corporate & Specialty (AGCS). Titled “Directors and Officers Insurance …

S&P Revises Qatar Insurance Outlook on Financial Risks from $308M Markerstudy Loan

S&P Global Ratings said it revised its outlook on Qatar Insurance Co. S.A.Q. (QIC) to negative from stable, although it has affirmed the group’s “A” rating. When QIC acquired four of Markerstudy’s subsidiaries in 2018, it also purchased the parent-related …

New Swedbank CEO, Hired from Folksam, Criticized for Ties to Scandal-Hit Bank

Sweden’s biggest shareholder group has criticized Swedbank AB’s choice of chief executive officer, arguing the board opted for an insider who failed to stop the bank sinking into a Baltic money-laundering scandal when he had the chance. Jens Henriksson will …

Fallout from Money Laundering Scandal Continues as Fines Loom for Swedbank

Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a …

UK Risk Managers List Brand Damage, Brexit, Cyber Attacks as Top 3 Business Risks

The top three risks facing UK risk managers are reputational damage, Brexit and cyber attacks, according to Aon’s 2019 Global Risk Management Survey of thousands of risk managers across 60 countries and 33 industries. In comparison, survey respondents globally ranked …

Risk Managers Rank Economic Slowdown, Damage to Reputation as Top 2 Risks: Aon

Economic and global trade concerns are challenging organizations’ ability to invest adequately in preparing for and protecting the continuity of their operations, according to findings from Aon’s 2019 Global Risk Management Survey, which aims to identify the challenges organizations face …

Explaining Europe’s Growing Money Laundering Scandal

The largest ever money laundering scandal in Europe is rippling through the region’s banks. It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations. Here are some facts …

Fallout Grows from Swedbank’s Money Laundering Scandal as Chairman Quits

A week after Swedbank AB fired its chief executive officer, the lender is parting ways with its chairman as a multibillion dollar money-laundering scandal forces top-level changes. Lars Idermark has decided to leave Sweden’s oldest bank and biggest mortgage lender …

Money Launderers Could Begin Targeting Smaller Banks, Warns Denmark

Denmark’s financial watchdog is warning that smaller banks need to be on high alert for signs of money laundering as larger lenders tighten their surveillance systems. Jesper Berg, director general of the Financial Supervisory Authority in Copenhagen, said Denmark is …

Swedbank Fires CEO on Growing Investor Criticism of Handling of Laundering Scandal

Swedbank dismissed Birgitte Bonnesen as chief executive on Thursday only an hour before its annual meeting after disgruntled shareholders rounded on her handling of a rapidly-growing money laundering scandal. The lender had repeatedly said it had faith in Bonnesen to …