Specialty
Bayesian recovery highlights Italy’s legal requirements for major salvage efforts
Needs of investigation have priority over insurance considerations as legal experts set out procedural constraints amid efforts to raise tech tycoon’s doomed super-yacht
Steamship Mutual feels the squeeze from major casualties
Marine mutual’s combined ratio climbs 19 points to 112%
UIB expands marine division with Scales appointment
Lloyd’s broker hires Sean Scales from Tysers to support growth of North American marine practice
Swedish Club confirms technical surplus
Gothenburg-based marine mutual brings combined ratio below break-even and reports substantial gain in free reserves
Carriers need to rethink energy exposure management
Re/insurers must start embedding energy exposure management into strategic underwriting and portfolio steering
Lloyd’s seeing ‘big uptick’ in oil and gas clients: IQUW
IQUW’s lead energy underwriter, David Message, discusses the outlook for the carrier’s upstream property/control of well portfolio
Westfield Specialty names Poulteney offshore energy class underwriter
Poulteney joins from Arch Insurance, where he was head of offshore energy
Singapore High Court decision provides case law on Insurance Act wording
Ruling establishes meaning of ‘term defining the risk as a whole’ under section 11 of 2015 legislation
WTW sees ‘two-track’ market in airline insurance
Recent renewals highlight challenge faced by insurers seeking to quote rate increases against a backdrop of relatively high capacity
Gallagher appoints Ortiz head of US aerospace claims
Broker hires Sherry Ortiz from the United States Aircraft Insurance Group
Nigeria opens access to overseas aviation insurance
New regulation will allow lessees to cede up to 90% of risk to international re/insurers
Airline insurers at ‘tipping point’ in wake of major losses
Major claims and attritional losses, coupled with inadequate pricing, threaten technical losses in 2024 and 2025, Gallagher warns
WTW sees ‘two-track’ market in airline insurance
Recent renewals highlight challenge faced by insurers seeking to quote rate increases against a backdrop of relatively high capacity
Bayesian recovery highlights Italy’s legal requirements for major salvage efforts
Needs of investigation have priority over insurance considerations as legal experts set out procedural constraints amid efforts to raise tech tycoon’s doomed super-yacht
Steamship Mutual feels the squeeze from major casualties
Marine mutual’s combined ratio climbs 19 points to 112%
Carriers need to rethink energy exposure management
Re/insurers must start embedding energy exposure management into strategic underwriting and portfolio steering
Axa XL survey foresees slowdown in credit and political risk
Easing inflation and lower prices indicate post-pandemic growth spurt is cooling
Raising the stakes in political violence
Aegis London’s $100m political violence consortium comes at a time when traditional insurers have been heading for the exit, according to war and terrorism class underwriter, James MacDonald
Regulation tops worries for transport sector
Geopolitical disputes prompt concerns about business disruption, WTW survey finds
Re/insurers face new age of political risk
The increasing importance of geopolitical factors in business decision-making has led to a transformation of re/insurers from passive risk managers to active geopolitical intelligence agents
Aegis doubles capacity for digital terrorism product to $500m
Lloyd's consortium-backed product now suitable for larger organisations with significant exposure to terrorist risks
Pool Re completes third catastrophe bond placement
£100m bond offers collateralised retrocession cover and aims to safeguard UK taxpayers against the financial impact of terrorism, according to Pool Re
Pool Re completes transition to modernised catastrophe treaty reinsurance scheme
Updated model seeks reflect the changing nature of terrorism threats and improve how cover is distributed across the market
TMK appoints Wilson as head of special risks
Lloyd's carrier hires James Wilson from The Hartford
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