alternative risk transfer

Global insurance and reinsurance broker Willis Group has hired Marc Paasch as its new Global Head of ART Solutions, strengthening the broker’s position in the market for alternative risk transfer (ART) and tailored risk solutions.

Businesses looking to protect themselves from property damage or business interruption due to natural disasters or weather events should look to alternative risk transfer structures and parametric triggers to ensure a recovery can be made, according to Marsh.

Anticipating further growth in the longevity risk transfer and pension plan de-risking sector, UK insurer Legal & General has added four to its Bulk Annuity & Longevity Insurance business to prepare it for serving clients longevity risk needs.

French reinsurance company SCOR has created a new business unit, called Alternative Solutions, to centralise and house its activities in insurance-linked securities (ILS), structured risk transfer and alternative risk financing.

The World Economic Forum (WEF) has published its Global Risks 2014 report, the latest update to the report where the WEF works with insurers, risk management professionals and academics to highlight the main global risks the world will face in coming years.

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