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

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