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In the wake of Brexit, AIG in April 2018 announced it has established and received authorization for new insurance companies in the U.K. (American International Group UK Limited) and Luxembourg (AIG Europe S.A.). AIG Europe S.A. will have branches across the European Economic Area and Switzerland. The existing carrier, AIG Europe Limited, will transfer all of its existing insurance business to the new entities well ahead of the U.K.
Marsh in April 2018 appointed Sarah Robson as president and CEO of Marsh Canada, succeeding Chris Lay who is crossing the pond to lead Marsh in the U.K. and Ireland. Ms. Robson will be based in Toronto, Canada, and report to Martin South, president of Marsh U.S. and Canada. Currently a Managing Director at Marsh USA, her earlier positions include Managing Director, National Specialty Practice Leader at Marsh Canada;
The Conference Board’s economic indicators for the U.K., published in April 2018, indicate a possible downturn is ahead for the British economy. The Conference Board’s leading indicator, the Leading Economic Index (LEI), turned negative at -0,4% in February 2018 ; whereas the current indicator, the Coincident Economic Index, still is in positive territory at +0,2%. The U.K. is one of several large economies with a negative outlook as determined
European digital health insurance company Alan in April 2018 announced it has raised €23 million in Series A funding. Alan has two characteristics that sets it apart from most other insurtechs. First and foremost, it is a real, licensed insurance carrier that actually writes risks and mutualizes them. It is not acting as a broker or a services integrator or a business process outsourcer, like most insurtechs do. Second,
Marsh in April 2018 appointed Christos Adamantiadis as CEO of its new Middle East and Africa region, based in Dubai and reporting to Flavio Piccolomini, president of Marsh International. He was most recently CEO of Oman Insurance in Dubai, having previously worked for AIG as EMEA Lead for AIG’s global organizational realignment initiative; Managing Director, CEE (Central, Eastern Europe) and Turkey; Managing Director, Middle East & North Africa; General
Global broker Lockton in April 2018 named Said Taiym executive vice president-chief digital officer. He will focus on digital innovation and new technologies and report to Ron Lockton, president and CEO. Most recently, Taiym was the senior vice president and chief information officer for the AF Group, a leading worker’s compensation insurance organization. Before AF Group, he was with XL Group and Zurich North America. Taiym holds bachelor’s degrees
Marsh in April 2018 announced it has named Chris Lay CEO, U.K. and Ireland, succeeding Mark Weil, who is leaving Marsh, and reporting to Flavio Piccolomini, president of Marsh International. Lay will be based in London and is expected to take up his role this summer. He spent all of his career at Marsh where he held the positions of President & CEO of Marsh Canada; President, Global Captive