AIG confirms new head of investor relations

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McMillan was most recently serving as senior director, investor relations at Marsh McLennan. Prior to Marsh McLennan, he was managing director equity research P&C insurance at Keefe,

Bruyette & Woods. McMillan had also worked for Morgan Stanley as vice president equity research P&C insurance.

McMillan earned his bachelor of science in finance from the Boston College Carroll School of Management, and an MBA from Columbia Business School. He was ranked the #1 Investor Relations insurance professional in the Institutional Investor 2021 All-American Executive Team ranking.

“As demonstrated by our first quarter 2021 financial results, AIG has significant momentum, which has

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11 major banks trial blockchain intraday FX swap trial

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11 banks have participated in a trial of blockchain based FX intraday swaps. NatWestDeutsche Bank, Bank of Ireland, Banca Mediolanum and seven other banks participated with $14.5 trillion in combined balance sheet values.

11 major banks trial blockchain intraday FX swap trial

Finteum revealed that the solution is planning live trades in late 2021 or early 2022.

According to BIS figures, global FX daily trading in 2019 amounted to $6.6 trillion daily, of which $3.2 trillion were FX swaps.

So what’s the problem that intraday FX swaps aim to solve for banks? It’s about managing intraday

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Today’s collapse will have lost e-commerce retailers $1 billion

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As some of you may be aware, many of the world’s largest global e-commerce retailers including Amazon, eBay and Etsy were hit by the global web outage this morning.

Today’s collapse will have lost e-commerce retailers $1 billion

Major online stores including Amazon, eBay, Etsy and Boots were among the many sites that failed this morning, along with major Publishers and even the UK government website.

In what is being termed the hour the internet ‘broke’,  ParcelHero estimates retailers across the UK, Europe and US will have lost around £1 billion because of the international outage.

Its a huge number,

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Canopius establishes new underwriting agency

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Global specialty reinsurer Canopius Group has announced the launch of its algorithmic underwriting platform, Vave, as a managing general agency (known in parts of APAC as an underwriting agency).

Vave, developed in-house at Canopius, began trading in May 2019 and has since quoted more than 1.2 million risks, representing US$2.2 billion in premium. Vave MGA is predicted to surpass US$100 million in premium by the end of this year. As a digital platform with diverse capital, it is positioned for rapid and sustained growth, Canopius said.

The MGA is led by Marek Shafer, Jamie Martin and Rob Porter.

Vave has

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