News
CFTC boosts transparency with new report
The expansion of the CFTC’s Commitments of Traders report has garnered industry support in its attempt to enhance market transparency. Pauline McCallion reports
Allianz revamps management
Allianz has appointed Christof Mascher as chief operating officer (COO) of Allianz Group and a member of the board of management, replacing outgoing COO Oliver Bäte. Jay Ralph, currently chairman of Allianz Life Insurance Company of North America, will…
Enhanced transfer value transactions activity marks return of buy-out market
The UK’s long-dormant pension buy-out market could be on the verge of resurgence, as improving market conditions and increased de-risking activity through enhanced transfer value (ETV) transactions have combined to make pricing more attractive and…
Fortis Group creates new CRO
Fortis Group has named Kurt De Schepper as chief risk officer (CRO) in a newly created position within the restructured company, subject to approval by the Belgian Banking, Finance and Insurance Commission. As CRO, De Schepper will be a member of the…
PwC expands pension capital management team
PricewaterhouseCoopers has hired Nick Secrett to join its pensions capital management team. Secrett, who joins the company from Swiss Re, will advise a range of clients on the effective management of pension scheme financing and risk in the pensions…
Roger Gray appointed CIO at USS
The £23 billion Universities Superannuation Scheme has appointed Roger Gray, to replace Peter Moon as CIO, who is retiring after 17 years with the fund. Prior to joining USS, Gray was chief investment officer at Hermes Investment Management.
AIG bolsters retirement business
Jay Wintrob has been appointed to the newly created position of president and chief executive officer of domestic life and retirement services at indebted insurer AIG. Wintrob was formerly president and chief executive of AIG Retirement Services, and…
Local authority opts for longevity swap
The £1.2 billion Royal County of Berkshire pension fund is poised to take the bold step of signing a longevity swap deal to cover all of its 10,000 pensioners, in the first of its kind for a UK public pension scheme.
US academic hits out at Obama proposal for systemic risk regulation
The Obama administration’s proposal to give the Federal Reserve regulatory authority over insurers designated as systemically significant – known as Tier 1 financial holding companies (FHCs) – would increase instability in the insurance market, according…
Remuneration controls in Solvency II ‘unjustified’
Proposals to include measures relating to remuneration policy as part of the Solvency II directive have been slammed by Spanish mutual insurer Groupama, which described the initiative as “unjustified interference in company management”.