week commencing 26/01/20:

In a busy news week marked by B-day, the alarming spread of the coronavirus and Kobe Bryant’s tragic death in a helicopter crash, here is our pick of the insurance stories.

Woolard appointed interim chief executive of the FCA

The Treasury has appointed the Financial Conduct Authority’s executive director of strategy and competition, Christopher Woolard, as the regulator’s interim chief executive. External-link. [The Insurer]

Coronavirus: multinationals should take immediate steps

Multinational businesses need to review, test and potentially update plans related to business continuity in light of the coronavirus according to Marsh’s Risk Consulting Strategic Risk Practice. External-link. [Insurance Times]

Capsicum Re’s Payton joins Gallagher

Gallagher has appointed Malcolm Payton to lead its newly combined property/casualty and special risks business. External-link. [Reactions]

Indonesia relaxes foreign ownership rule for insurers

Foreign investors can now own a stake of more than 80% in Indonesian insurance companies after the country’s regulator committed to making reforms and tightening oversight. External-link. [Asia Insurance Review]

LMA’s new lead-follow model aims for balance

Plans to overhaul the lead-follow model would enable any syndicate to be a leader in a particular class, provided it achieved the minimum standards, according to the chief executive of the Lloyd’s Market Association. External-link[Insurance Day]

Lloyd’s sets new e-placement targets

Lloyd’s syndicates must write a minimum of 80% of risks using a recognised electronic placement system in 2020 – up from 70% in the final quarter of 2019. External-link. [Insurance Day]

RenRe looks to offload casualty book

RenaissanceRe is working with TigerRisk on a potential deal to sell a multi-million casualty book for its Lloyd’s syndicate. External-link. [The Insurer]

Marsh sees hike in demand for political violence cover

Marsh has seen a spike in clients’ inquiries for political violence insurance in the Gulf over the last six months following attacks on tankers and oil installations in the region last year. External-link. [Middle East Insurance Review]

Don’t call me Michael

Insurer Aviva was forced to apologise this week to thousands of customers who had incorrectly received emails addressing them as Michael. External-link. [BBC News]

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