Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Lockton Caribbean & Central America launches region’s first dedicated Food, Agriculture & Beverage insurance broking practice

Published

on

MIAMI, May 21, 2024 /PRNewswire/ — Lockton Caribbean & Central America (CCA) announced today the launch of CCA FAB, the insurance broking industry’s first Food, Agriculture & Beverage practice focusing exclusively on the region.

The new Food, Agriculture & Beverage practice within Lockton CCA — the Miami-based wholesale insurance and reinsurance operation focused on the region, within Lockton’s Latin America and Caribbean Insurance Services Series (LACIS) — will deliver tailor-made insurance solutions to companies at all points along the value chain of the food, agriculture and beverage industries. Among other potential offerings, these include bespoke liability insurance and contract review, crop insurance, stock throughput solutions, product liability and recall insurance, reputational damage insurance, and financial and professional coverages.

Lockton CCA has historically served many high-profile local and global food, agriculture and beverage companies with exposures within the region, including food distribution companies, distilleries, breweries, and soft drink manufacturers, on behalf of local independent brokers and insurers. The new CCA FAB practice, working as a wholesaler, will deliver new and innovative solutions designed for the food, agriculture, and beverage industry to these brokers and insurers to better serve their clients.

Lockton named Simon Arden and Mario Martinez as co-leaders of CCA FAB. They will jointly report to Julian Pratt, CEO of Lockton CCA, and Tony Matta, President of CCA. Arden and Martinez, insurance industry veterans with history and experience in the Caribbean and Central America, will work closely with Lockton’s global Food, Agriculture & Beverage practices in both London and the United States to help food, agriculture and beverage industry companies effectively manage their risk.

“As the food, agriculture, and beverage sector in the Caribbean and Central America grows and evolves, businesses need tailored advice from brokers who understand the industry and the region,” Arden said. “Lockton CCA is excited to help deliver outside-the-box thinking and problem-solving to help industry participants manage their most critical operational, financial, and reputational risks and build competitively priced and responsive insurance programs.”

Advertisement
Stake.com

About Lockton

What makes Lockton stand apart is also what makes us better: independence. Lockton’s private ownership empowers its 11,500+ Associates doing business in over 140 countries to focus solely on clients’ risk, insurance and people needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results. For more information, visit www.lockton.com

Logo – https://mma.prnewswire.com/media/2342384/Lockton_70_mm_Black_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/lockton-caribbean–central-america-launches-regions-first-dedicated-food-agriculture–beverage-insurance-broking-practice-302151577.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

InScope secures $4.3m to revolutionise financial reporting and auditing

Published

on

 

InScope, a newly launched FinTech company, has successfully raised $4.3 million to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round included significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

InScope is focused on transforming the traditional processes of financial reporting and auditing for private companies. The company leverages advanced technologies, including generative AI and large language models, to automate and streamline the compilation of financial statements—tasks that have historically been prone to errors and required extensive manual effort.

Advertisement
Stake.com

The new capital will be used to enhance InScope’s platform capabilities. The company aims to shift accountants’ focus from laborious manual tasks to more strategic initiatives, thereby empowering finance professionals with tools to complete reporting and auditing tasks quickly and efficiently.

InScope’s system compiles data from a company’s core systems, such as ERP, along with publicly available information, and transforms these inputs into GAAP-compliant financial and audit documents.

InScope CEO and co-founder Mary Antony stated, “Our technology dramatically reduces the time and effort required for financial reporting and auditing, eliminating the need for outdated manual processes.” Her co-founder and COO, Kelsey Gootnick, also emphasized the transformative potential of InScope, which they conceived out of their own frustrations with existing financial processes.

The company has already begun collaborating with a select group of companies to refine and enhance their financial reporting capabilities. JC Bahr-de Stefano, a venture capital investor at Better Tomorrow Ventures, commented on this partnership: “InScope is already working with a handful of companies to help streamline their financial reporting needs and enable accountants to complete their reporting tasks in minutes instead of months.”

Source: fintech.global

Advertisement
Stake.com

The post InScope secures $4.3m to revolutionise financial reporting and auditing appeared first on HIPTHER Alerts.

Continue Reading

Latest News

Citi extends USD Clearing service to Middle East in partnership with Emirates NBD

Published

on

 

Citi has partnered with Dubai-based banking group Emirates NBD to launch its USD Clearing service in the Middle East.

Through this collaboration, Emirates NBD will offer the USD Clearing service, along with its commercial and treasury payment execution capabilities, to corporate and retail clients via its branch networks in the UAE and Saudi Arabia. This service will enable clients to make cross-border USD payments with continuous availability, addressing current payment flow challenges posed by varying transaction cut-off times in the UAE.

“The introduction of 24/7 USD Clearing will support the growth ambitions of our clients by giving them the ability to seamlessly transfer funds in a timely manner without having to worry about cutoffs and holidays,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.

Advertisement
Stake.com

Following the initial launch, the service will be extended to all Emirates NBD branches in the Middle East and globally, including partnerships with third-party institutions.

According to its website, Emirates NBD currently operates 853 branches in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia, and Bahrain.

Shahmir Khaliq, Citi’s head of services, described the collaboration as “an important step in our journey to creating a multibank solution that is designed to deliver an end-to-end, ‘always on’ experience for participant banks and their customers.”

“Our 24/7 USD Clearing service is a clear differentiator in the market,” Khaliq continued. “It demonstrates the full value of our globally leading cross-border payments and clearing capabilities, which enable our clients to make payments faster and in a more efficient and transparent manner.”

Source: fintechfutures.com

Advertisement
Stake.com

The post Citi extends USD Clearing service to Middle East in partnership with Emirates NBD appeared first on HIPTHER Alerts.

Continue Reading

Latest News

New partnership between BIS and MAS targets climate risks in finance

Published

on

 

The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have recently collaborated on an innovative initiative.

The BIS, an institution dedicated to fostering international monetary and financial cooperation, and the MAS, Singapore’s central bank responsible for monetary policy, financial regulation, and supervision, have teamed up to tackle a pressing global challenge.

Their partnership aims to develop a blueprint for a climate risk platform designed to integrate regulatory and climate data. This platform will enable financial authorities worldwide to better identify, monitor, and manage climate-related risks within the financial system.

Advertisement
Stake.com

The BIS, through its Innovation Hub Centre in Singapore, is addressing financial stability concerns posed by climate change. The MAS adds its regulatory expertise and focus on sustainable finance to the effort. Both institutions recognize the complex challenges posed by climate change, including significant data gaps and the difficulty of assessing associated risks.

Project Viridis, led by the BIS Innovation Hub, outlines the essential features and metrics of the proposed climate risk platform. This platform is designed to provide comprehensive data on financed emissions, exposure to physical risks, and forward-looking assessments under various climate scenarios. As the impact of climate change on global financial markets escalates, adaptive and innovative responses are necessary.

The partnership also leverages advanced technologies such as natural language processing to extract and analyze climate-related data from corporate disclosures. This enables a deeper understanding of financial institutions’ climate-related risks and identifies potential areas requiring more intensive risk assessment.

Maha El Dimachki, head of the BIS Innovation Hub Singapore Centre, stated, “Project Viridis demonstrates how regulatory data can be integrated with climate data, extracted from corporate disclosure documents using natural language processing techniques. This provides authorities with insights into climate-related financial risks, helping them form an initial view of financial institutions’ risk exposures and identify areas that may require deeper risk assessment.”

Source: fintech.global

Advertisement
Stake.com

 

The post New partnership between BIS and MAS targets climate risks in finance appeared first on HIPTHER Alerts.

Continue Reading

Trending