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Princess Empress clean-up costs likely to hit IOPC Funds threshold

Claims submission office opened in Philippines working with P&I provider Shipowners’ Club

Philippines Marine

Richard Turner quits Victor for job at West of England

High-profile former Iumi president jumps ship in switch to protection and indemnity

United Kingdom Marine

London marine market ‘losing on competence’

While the London market has ample capacity, other markets such as Norway are seen to have a competitive advantage in terms of technical skills

London Lloyds

Shipowners ‘forgot’ how war risk insurance works

Industry memories of Iran-Iraq conflict faded, and cancellation of standard policies and hefty additional premiums came as an unpleasant shock

Europe Ukraine War
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London market carriers target sustainable energy growth in 2023

Survey of Lloyd’s syndicates and company market insurers finds eight in 10 carriers are planning growth in the sustainable energy class of as much as 25% this year

London Specialty

Insurance alliance target ‘falls far short’ of 1.5°C climate goal

Net-Zero Insurance Alliance target setting protocol fails to offer 'credible alternatives' to fossil fuel exclusion policies, global campaign group says

International Climate change

Tysers names Moore director for energy

Moore will be responsible for the Lloyd’s broker’s expansion into the energy sector

London Lloyds

Chubb announces new underwriting standards for oil and gas extraction

Insurance giant says coverage will be contingent on client adoption of plans to reduce methane emissions and confirms it will not underwrite oil and gas extraction projects in government-protected conservation areas

Chubb Energy
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HDI Global Specialty extends aviation platform to Canada

Specialty insurer will initially offer general aviation policies through brokers via Aviation IQ platform

Canada Aviation

Convex backs air mobility MGA Skyrisks

Soon-to-be launched MGA will be led by former AGCS aviation underwriter Alistair Blundy

London Aviation

Lloyd’s 2022: Marine, aviation and transport profits fall

Underwriting profit drops 28% to £280m, despite sharp rate rises following the war in Ukraine

London Lloyds

TMK creates aviation war team with AIG's Green

Lloyd’s insurer appoints Will Green divisional head of war as it looks to take advantage of increased demand for specialist war risk coverage

London Lloyds
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R&Q names Hayman non-executive chairman

The specialty insurer wants to create a governance structure more aligned with best market practice

Specialty People moves

Corvus names Gangu president

Gangu joins as the cyber underwriter looks to build on a strong performance in 2022

Specialty Cyber

NSM broadens European presence with acquisition of Acquis in UK

Managing general agent NSM's new acquisition Acquis provides insurance solutions for the asset financing and leasing industry

United Kingdom United States

London market carriers target sustainable energy growth in 2023

Survey of Lloyd’s syndicates and company market insurers finds eight in 10 carriers are planning growth in the sustainable energy class of as much as 25% this year

London Specialty
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Political Risk & Trade

Building resilience in South Africa’s political violence insurance market

The riots in South Africa in July 2021 resulted in significant property damage that took a heavy toll on Sasria, the state-backed political violence insurer, and also spread into the international political violence markets. With national elections looming in 2024, could the political violence market cope with another potential outbreak of civil unrest?

South Africa Specialty

CPRI capacity grows to record levels: WTW

Contract frustration notional capacity up 20% year-on-year to $4bn, while political violence capacity climbs 15% to $4bn, survey by WTW finds 

Willis Towers Watson Specialty

Inflation and cost of living crisis inflame social unrest in Latin America

Rise in social unrest is driven mostly by inflation and the cost of living crisis, which have added additional stress to a region that is already dealing with the social stresses from Covid-19

South America Political Risk and Trade

Chiaramonte to succeed Lowenstein as Sovereign Risk president

Natalie Chiaramonte to lead Chubb-owned political and sovereign risk insurer following retirement of Price Lowenstein

People moves Chubb
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Rokstone launches $255m US and Caribbean terrorism facility

London market-backed facility is a more flexible alternative to the US government’s backstop programme, MGA says

North America Terrorism

Arch swoops on Chaucer for head of terrorism

Andrew Bauckham described as 'one of the most respected figures in the terrorism insurance market'

Arch Capital People moves

Pool Re members back Treasury review

Review provides a roadmap for the strategic direction of the terrorism mutual

United Kingdom Terrorism

Pool Re places £100m Baltic Re bond

Terrorism reinsurer upsizes second bond issuance amid strong appetite from capital markets

United Kingdom Reinsurance
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