Editorial
2011 marks the 70th anniversary of the Atlantic storm in February 1941. According to specialized literature, it was the most violent windstorm ever sustained by the Iberian Peninsula during the 20th century. In recent years, other extratropical cyclones from the Atlantic such as Martin in 1999, Klaus in 2009 and Xynthia in 2010, have reached Spain and Portugal but none of them had the geographical extent or the intensity of the winds registered during the 1941 storm. Robert Muir-Wood, Chief Research Officer at RMS in London, has compiled descriptive and quantitative damage data from traditional documentary sources for Trébol. His analysis also includes a cost estimate should this event be repeated in Spain and Portugal nowadays.
As far as Solvency II is concerned, deadlines are being fulfilled. In future issues of Trébol, we would like to analyze in depth what it may mean for several market players, taking into account different viewpoints and different countries. We therefore invited Santiago Romera, Managing Partner of Área XXI, a risk analysis consulting company, to kick off this series with an article that lays the foundations needed to understand the language of Solvency II. It also outlines the master plan of a company in the sector in order to implement these regulations and finally, it identifies possible business opportunities that may arise.
Specialization is a bet for professionalism. That is how we understood the working approach of Catholic Church Insurances when we interviewed its CEO, Peter Rush. This company manages insurance and attends any requirements from the Catholic community in Australia. Apart from offering a wide range of insurance products for churches, cathedrals, colleges and residences amongst others, Catholic Church Insurances operates as a mutual company by distributing its surplus at the end of the financial year. It manages Church investments and it also organized the entire operative concerning insurance at the Pope’s last visit to Australia.
Mr. Jaime Lissavetzky, current President of the Spanish National Sports Council, will soon be caught up in a hectic schedule of engagements due to his next election campaign for the office of Mayor in Madrid. Nevertheless, Trébol has got the privilege to hear his report about sports management in Spain over the past years. Without forgetting subjects of such importance as the fight against violence and doping in sport, we have understood that government efforts and sponsorship are addressed to support elite sportspeople and to promote sport for children and youngsters. We hope to witness and celebrate still more sporting successes in 2011 and the years to come.