Tesla said last week that one of its cars had crashed in Beijing while in ‘autopilot’ mode, with the driver contending sales staff sold the function as ‘self-driving’, overplaying its actual capabilities. Tesla said it had reviewed data to confirm …
Allianz Global Corporate & Specialty SE (AGCS) has announced senior underwriting appointments in property and engineering as well as risk consulting. Thierry Portevin will take over the role of global head of Property in the Chief Underwriting Office Corporate Lines, …
Companies originally created the role of the chief risk officer because they “recognized that good risk management is really good business,” according to Michael Steel, former CRO at AXIS Capital. The role of CRO is a relatively new one for …
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …
China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Affecting the Yangtze …
Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to $53.4 million, or 51 cents a …
Specialist Lloyd’s insurer Neon has appointed Olly Reeves to the role of chief risk officer. He will join Neon on Nov. 1, 2016 from his current role as head of Risk Management at Lloyd’s of London. Subject to regulatory approval, …
Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the U.K.’s second-largest insurer, posted a 13 percent …
London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Kadidja Sinz to the new role of head of Europe. Sinz will be responsible for leading and directing the specialty and commercial insurance business in Continental Europe. …
Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped. The second-quarter net loss widened to $63 million, or $1.69 a share, …