Russia
WTW latest to withdraw from Russia
WTW has pulled out from Russia, joining fellow global brokers Aon and Marsh McLennan in cutting ties in the country.
Reinsurers to continue to pay Russian claims, exposure limited: S&P
S&P Global Ratings expects global reinsurers will continue to pay claims arising in Russia, but said their exposure to the adverse effects of sanctions was limited.
Marsh McLennan to exit all Russian business
Marsh becomes the first major international broker to exit all Russian business as the war with Ukraine continues.
UK government confirms late March deadline for Russia insurance ban
UK insurers must cancel cover for Russian aviation and space companies from 28 March latest, the government has updated.
UK's insurance sanctions on Russian companies to apply to existing and new business
Sanctions announced last week to bar Russian aviation and space companies from accessing the UK insurance market will apply to both current and new business, according to the Bank of England’s director of risk operations and general insurance Anna…
Insurance Europe ends All-Russian Insurance Federation’s membership
The board of Insurance Europe has voted to end the All-Russian Insurance Federation’s membership of the organisation in response to the Ukraine crisis.
Russia’s Ukraine war to ‘substantially’ impact global insurance industry: AM Best
The Russian invasion of Ukraine is likely to have a substantial impact on the global insurance industry in the near to midterm, AM Best has said.
Ukraine commits funds to keep flights going as insurers pull out
The Ukrainian government has committed UAH 16.6bn (£430m) to keep commercial flights moving through the territory as reports suggest insurers have pulled cover amid heightened tensions with Russia.
WTW's Frederick Gentile on taking a realistic approach on supply chain resilience
Frederick Gentile, director of risk engagement at Willis Towers Watson, shares his checklist for supply chain resilience, and says leaders need to take a more realistic approach to survive.
Intelligence: Political risk and the pandemic
Covid-19 has already raised tensions between countries and a fragmented exit from the pandemic could test relations further, putting more pressure on businesses. Supply chains remain disrupted and global businesses fragmented. Post investigates what this…
AGCS embarks on €200m cost-cutting restructure
Allianz Global Corporate & Specialty will look to reduce its global headcount by a further 400 as it embarks on a transformation programme.
Analysis: The expansion of the global space market: What opportunities does this present to insurers?
It is 55 years since underwriters at Lloyd’s penned the first space insurance policy, covering the Intelsat I ‘Early Bird’ satellite. Today there are more than 2000 active satellites orbiting the planet and the accelerating commercialisation of space is…
Analysis: Protecting businesses against political risks
The political risk map of Europe is being changed by a toxic combination of uncertainty — both political and economic, populism, geopolitical changes, political violence and technological advances
Analysis: Insuring musical instruments, striking the right notes
Musical instruments require insurance cover that's in tune with their tumultuous lives.
Q&A: Malcolm Hyde, CILA and FUEDI
After working with the European Federation of Loss Adjusting Experts for a number of years, Malcolm Hyde has taken on board the role as president.
Q&A: Lynda Lucas, chair, Airmic
Lucas began her career as a company secretarial trainee at British Aerospace and has since had various risk management roles at companies including Nortel, Old Mutual and, since 2006, Fujitsu. She has been an Association of Insurance and Risk Managers…
Sogaz and VTB merge to form Russian insurance giant
Sogaz has acquired VTB Insurance and the merger is creating Russia’s largest insurance company.
Lloyd's: World Cup kicks off with a bang as reality bites for favourites
The World Cup is well and truly underway, and what a way to get started!
Blog: Lloyd's predicts the World Cup winner
Lloyd's of London predicts which country will win the 2018 World Cup, based on the insurable value of the 32 football teams that start battling it out this week in Russia.
Analysis: Protecting against protectionism
Protectionism is posing challenges to the insurance market, but also creating some opportunities, especially for trade credit cover.
Fight against hackers is like 'Cold War on steroids'
The cyber security and insurance industries are focusing too much on products and neglecting the human factor that is at play in 95% of data breaches, a conference heard.
This week in Post: Shuffling and reshuffling
This week, as Theresa May reshuffled her cabinet, the insurance industry underwent its own shake-up.
Russia: Rosgosstrakh debacle sees increased government involvement in insurance
Government involvement in the Russian insurance sector is increasing as the country's largest private bank was placed under administration after acquiring failing insurer Rosgosstrakh.
AGCS appoints new claims chief
Allianz Global Corporate & Specialty has appointed Lars Vissing as regional unit London head of claims.