Specialty
Reinsurers to reprice war risk as Hormuz stalemate continues
Limited transits through strait raise legal questions around time requirements for constructive total loss claims
Why competence mapping matters in P&I
Competence in a mutual insurer is different from capability in many other businesses
Beazley names Khera head of marine
Executive will lead the London-listed insurer’s marine, energy, aviation and space teams
Chubb CEO outlines conditions for operation of US war risk facility
Evan Greenberg says military conditions not yet in place for $40bn facility to begin assuming risk
Middle East crisis exposes fossil fuel folly: Guterres
Climate policymakers warn of fossil fuel crisis, while insurance survey reveals energy leaders see continuation of oil and gas
What would turn the soft energy market
A major loss, a withdrawal of capacity or a shift in reinsurance appetite could quickly change the direction of the market, Willis’s Michael Buckle says
Energy market defined by ‘striking contradiction’
Despite mounting loss activity and geopolitical volatility, the energy insurance market remains deeply soft, according to Willis
Swiss Re names Revell global head of marine and energy
Revell has more than 30 years of reinsurance experience
Geopolitical tensions could squeeze aviation premiums
A reduction in the number of flights could have a knock-on effect on insurers, WTW warns
McGill launches aviation war risk solution for ground-based assets
Broker seeks to address gap in traditional hull war market with London market-backed product
Aviation war market ‘reactive, not proactive’: Hive’s Carman
Aviation war market has failed to learn from Russia as Middle East Gulf tensions test pricing, coordination and leadership, warns Hive chief executive, Bruce Carman
Aviation pricing remains stable despite Middle East conflict
Outside the region, robust capacity continues to temper calls for a market correction
Lancashire grows insurance premiums in first quarter
Growth in marine, energy and US insurance premiums offset by lower reinsurance premiums
Everest returns to underwriting profit in Q1
Re/insurer’s combined ratio improves by 11.5 points to 91.2% in the first quarter as catastrophe losses tumble
Axis Capital underwriting profit climbs 15% in Q1
Bermuda-based carrier books $15m of losses from the Middle East
Geopolitical tensions could squeeze aviation premiums
A reduction in the number of flights could have a knock-on effect on insurers, WTW warns
Political risk insurance demand set to spike as Middle East tensions grow
Growing appetite for cover as missile strikes and regional unpredictability heighten threats to businesses, survey finds
Trade credit insurers hope for change to EU capital rule
Insurers and trade bodies are calling for changes to ‘super conservative’ bank capital rule that is depressing demand for trade credit insurance
LMA pledges to work with US on political risk insurance for shippers
JWC secretary expresses doubt about US effort
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
Middle East tensions raise aggregation risks for terrorism insurers
Prolonged conflict could lead to stricter underwriting conditions and reduced capacity, particularly for risks linked to critical infrastructure and high-profile locations, analysts warn
Pool Re announces £2.75bn retrocession package
Pool Re hails record number of private reinsurance backers
Iran conflict widens political violence exposure across the Middle East
Escalation between the US, Israel and Iran is transforming political violence risk from a contained threat into a multi-jurisdictional accumulation challenge for insurers
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
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