Zurich sells UK non-core assets to Swiss Re June 15, 2011 Swiss insurer Zurich Financial Services is to sell some of its non-core UK insurance assets to reinsurer Swiss Re to recoup regulatory capital. Zurich Specialities London will transfer its run-off insurance business to Swiss Re at book value, resulting in repatriation of regulatory capital of around $360m (£219m) over time. About $950m in gross assets [...]
PROTECTION OF SUPPLY CHAINS GUARDS PROFIT June 13, 2011 AS MOST companies are seeking to reduce costs and improve working capital management, while at the same time relying increasingly on their suppliers, the most successful supply chains are dependent on efficient risk management. This reliance on suppliers is likely to involve a combination of some of the following aspects: global sourcing; single sourcing; partnership [...]
WHAT A FARCE June 1, 2011 ● Blatter wins uncontested presidential vote ● Plans to clean up in-house ethics committee ● FA unrepentant despite crushing defeat FIFA president Sepp Blatter won a fourth term in office amid farcical scenes in Zurich yesterday while the English Football Association were left virtually friendless and lambasted for their attempts to postpone his coronation. Blatter, [...]
Swiss Re in £1.6n deal for American Life assets June 1, 2011 Swiss Re, the world’s second-biggest reinsurer, is buying around £1.6bn of assets from American Life Insurance Company in a bid to boost the market presence of its Admin Re unit. The acquisition is the latest in a string of deals for the Admin Re business, which has done more than 50 transactions globally since 1998. [...]
FA attempt to delay election and demand Fifa reforms May 31, 2011 FOOTBALL ASSOCIATION chairman David Bernstein admits his organisation’s late bid to postpone today’s Fifa presidential election is likely to fail but maintained a victory for Sepp Blatter would represent an unsatisfactory outcome for the sport. Bernstein believes Fifa must also appoint an independent body to oversee sweeping reforms in light of the allegations of corruption [...]
SAFETY IN THE WORKPLACE IS A KEY SERVICE May 30, 2011 IT SEEMS obvious for an insurer to say this, but health and safety matters. It saves many lives every year. It provides insurers and brokers with a reference point from which risk management strategies can be developed. At the same time, there has been misinterpretation and misapplication of health and safety law – and this [...]
SAFETY IN THE WORKPLACE IS A KEY SERVICE May 30, 2011 IT SEEMS obvious for an insurer to say this, but health and safety matters. It saves many lives every year. It provides insurers and brokers with a reference point from which risk management strategies can be developed. At the same time, there has been misinterpretation and misapplication of health and safety law – and this [...]
CITY MOVES | WHO’S SWITCHING JOBS May 23, 2011 Agent Provocateur Retail veteran Chris Woodhouse has been appointed as non-executive chairman of luxury retailer Agent Provocateur. Woodhouse, director of Debenhams and chairman of restaurant group Gondola, which owns Pizza Express and ASK, will take a small stake in the lingerie business, which he will oversee alongside his existing role. Agent Provocateur, owned by private [...]
PROTECTION IS AS IMPORTANT AS INNOVATION May 16, 2011 SENIOR MARKET UNDERWRITER, TECHMEDIA, ZURICH INSURANCE THE technology sector is under continual pressure to adapt, develop and deliver innovation. This evolving business environment makes it hard for companies to benefit from the lessons learnt by more established industries and many companies have learned it is key for them to protect their assets, especially during their [...]
FA prepare to submit full dossier on Fifa corruption May 11, 2011 THE FOOTBALL ASSOCIATION will submit a full dossier to Fifa after the world governing body requested urgent evidence of the corruption allegations aimed at four members of its Executive Committee by former England 2018 bid chairman Lord Triesman. Fifa general secretary Jerome Valcke wrote to the FA, addressing chairman David Bernstein, demanding a copy of [...]