Local owners not generating sufficient premium revenue to cover scale of potential payouts, with hijacked Galaxy Leader worth up to $60m if declared a constructive total loss
Big surge in capacity in recent years, but profits still healthy, broker says
Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week
US marine insurer hires Ascot senior executive Tom Nasso to oversee underwriting
Geneva Association’s director of climate change says insurers can help drive efforts toward the $8trn needed in clean energy investments a year to reach net zero
Founded by Bill Gates, Breakthrough Energy Catalyst funds and invests in first-of-a-kind commercial projects for emerging climate technologies
Broker makes four senior hires to its Norwegian energy, renewables and property divisions
Extreme weather threatens significant investments in renewable energy technology and increases need for insurance coverage, re/insurer says
Viewpoint: As innovation continues apace, rising costs will still dominate the agenda for aviation insurers in 2024
Emerging technologies tend to be expensive in their first iterations, ultimately pushing up claim costs for insurers
Itasca MGA is the eighth managing general agent formed by Fidelis MGU's Pine Walk Capital incubator platform
Specialty MGA secures Allianz capacity for North American aviation facility
Direct price hikes stall as excess-of-loss programmes expected to see mid- to high single-digit rate increases
Rating agency cites ‘persistently strong’ underwriting results amid substantial economic and capital markets volatility
Bermuda carrier’s executives plan to deploy the proceeds of the recent IPO ‘as quickly as possible’
Senior executives from State National and Markel International discuss their plans for a joint venture they say will be bring new global insurance capacity to the ‘underserved’ and fast-growing UK MGA fronting market
Trade credit insurtech hires former Aon, Chubb and Markel executive Ewa Rose as part of expansion plans
A number of ‘particularly important’ countries from a political risk perspective go to the polls next year, including India, South Africa, the US and the UK
Lack of Hamas naval and mine-laying capacity means prices are unlikely to go as high as the Ukraine precedent
Beirut, Johannesburg and Dhaka were ranked among the highest-risk cities over the next 12 months
Bermuda-based insurer also extends its funding horizon to support critical financing schemes in developing economies.
Woodhouse joins from Howden, where he was divisional director of terrorism and political violence
Broker continues expansion of crisis management practice with hire of Aon’s executive director of North American terrorism
London market-backed facility is a more flexible alternative to the US government’s backstop programme, MGA says
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