Saturday, 06 February 2016


Icahn plans board coup to force AIG break up

On the day that AIG announced a detailed plan to cut costs and raise profitability, activist investor Carl Icahn announced a bid to force his way onto the board and force the break-up of the insurer.

Zurich set to toughen stance at renewals: Charon says “business as usual” in France

French and european risk and insurance managers need to prepare for a tougher stance from Zurich Global Corporate at renewals, as it deals with recent large losses.

AMRAE rallies troops in war on risk

Opening the 24th Rencontres de l’Association pour le Management des Risques et des Assurances de l’Entreprise (AMRAE) in Lille, the association’s president Brigitte Bouquot invoked a Napoleonic motto to encourage French risk managers in their battle against a growing array of risks.

OECD tax rules pose biggest threat to captives, says expert

New organisation for Economic Co-operation and Development (OECD)-driven tax rules could cause havoc for captives and force some out of existence, according to a leading expert.

Risk associations set to sway cyber debate

The Federation of European Risk Management Associations (Ferma) and French risk management body, Association pour le Management des Risques et des Assurances de l’Entreprise (AMRAE), are both stepping up their efforts on cyber risk and insurance.

XL delivers "solid" yearly results

Mike McGavick, chief executive officer of XL Group, believes his firm delivered "solid" 2015 results in a "tough" market as the group reported its first set of combined figures this week.

Munich Re shrugs off man-made losses to post decent results

Reserve releases and fewer major catastrophes have helped Munich Re post strong profits in 2015, although man-made losses continued to rise.

Buyers warned of insurer instability

Former Association pour le Management des Risques et des Assurances de l’Entreprise (AMRAE) president Thierry van Santen has warned risk managers to keep a close eye on their insurance carriers as the commercial insurance market enters a period of uncertainty.

Kessler urges nation states to hire risk managers

Risk managers play a central role within companies and should enjoy an equally prominent position within nation states, according to Denis Kessler, chairman and chief executive officer (CEO) of France-based global reinsurance and insurance group Scor.

Pirates still at large despite progress on hijackings: IMB

Levels of piracy and armed robbery on the world's seas remain close to those in 2014, despite reductions in the number of ships hijacked and crew captured, according to the International Chamber of Commerce (ICC) International Maritime Bureau's (IMB) annual piracy report.

Exposures could cost French cities $24bn, claims Lloyd’s

Five of france’s largest cities are exposed to natural and environmental risks that amount to some $24bn of gross domestic product (GDP), Lloyd’s has estimated.

French firms urged to take more risks

France’s main business association, the Mouvement des entreprises de France (Medef), has urged its country’s companies to change their culture in order to take more risks and boost their position in the global economy.

AIG draws on experts to dismiss Icahn’s case for breakup

AIG has moved firmly onto the front foot in its efforts to persuade shareholders not to back the plan concocted by activist investor Carl Icahn to force his way onto the board and lead a breakup of the group into three units.

Former AMRAE man brings risk insight to AXA Matrix

The AXA Group has hired one of France’s leading risk managers and former Association pour le Management des Risques et des Assurances de l’Entreprise (AMRAE) board member, Laurent Barbagli, to head its global risk consultancy company in a quest to better understand the needs of corporate clients.

Softer landing for captives under Solvency II than market feared

There was concern that Solvency II, which came into force this January, would hit captives hard but its initial impact appears to have been muted and, so far, the worst fears have not come to pass.

Cyber products roundup

Marsh launches cyber excess facility to help stabilise market, Swiss Re introduces ‘advanced’ French cyber solution, Zurich brings DigitalResolve to cyber stable and Chubb adds risk management services to cyber solution.