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Scandals fraud and losses in the financial markets

Scandals fraud and losses in the financial markets

HSBC is the latest bank to be hit by attempted fraud, which Euromoney was first to report.

Abigail Hofman

Abigail Hofman

We’re here to save the world and we don’t need any questions

April 2008

Insurance survey: The new masters of risk? How insurers are testing out their capabilities in finance

As financial stress grows, economies weaken and companies see risks looming at every turn, insurers offer themselves up as strategic risk advisers. They must prove their risk engineering skills, upgrade systems, overhaul archaic industry practices and adapt to capital market investors seeking insurance exposure. Euromoney polls 255 leading corporations to fi nd which insurers and brokers are doing the best job.




Insurance poll results

Profiles:
Available online only
 
AIG remains the undisputed leader
Zurich pushes the boundaries
MAI
Ping An
La Meridional
New Hampshire
Rosno 

Euromoney’s ground-breaking poll of large corporate users of insurance reveals the best insurance companies and brokers globally and by region. The chief executives of the industry leaders tell Peter Lee how these customers’ increasing sensitivity to, and sophisticated appreciation of, all manner of risks is fundamentally changing the insurance business. Modelling themselves on the pre-eminent Goldman Sachs investment banker whispering strategic advice into the CEO’s ear, insurers and brokers now want to be your risk management consultant.

FM GLOBAL IS an unusual insurance company. Its chairman and chief executive, Shivan Subramaniam, tells Euromoney, with a note of pride in his voice: "Yes, we blow things up, we burn them down."

The company runs a 1,600 acre campus in West Gloucester, Rhode Island. Set up at an initial cost of $80 million, it is a university of destruction. To measure how building materials and industrial equipment behave under extremes of wind, flood and flame, FM Global conducts the kind of tests that would delight the most malevolent villain of the most over-imaginative superhero comic strip.

More information on insurance survey


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