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Western insurers cover two-thirds of Russia’s Baltic and Black Sea oil exports

Greek shipowners and insurers have limited presence on Russia’s eastern seaboard, where oil is selling above the Western price cap, driving trade bifurcation and rise of ‘dark fleet’ of anonymously owned, vintage tankers

International Ukraine War

Steamship Mutual returns to underwriting surplus

Marine mutual becomes latest International Group affiliate to bring combined ratio below 100% 

United Kingdom Marine

NorthStandard plans specialty lines push

Doubling lines such as offshore energy, strike and delay, hull and machinery, coastal and inland and fishing and aquaculture will provide diversification away from pure P&I book, joint managing directors argue

United Kingdom Marine

Shipping losses fall to lowest level in 12 years: AGCS

Ukraine conflict fallout will challenge shipping in year ahead, with threat of collateral damage on civilian shipping in or around war risk area remaining high, insurer warns

International Allianz
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Axa XL names Roberts-Mills head of energy transition

Roberts-Mills will develop Axa XL’s global energy transition strategy to help clients transition to net zero

Axa London

Hiscox overhauls London market energy leadership team

Specialty insurer promotes Mackey and Cozon to lead the business’s London market energy offering

London Hiscox

Tokio Marine HCC International restructures London market teams

Marine, energy and renewables will be brought under one operating structure led by Ben Kinder

London People moves

Munich Re targets green insurance with new London market unit

Green Solutions portfolio will focus on sectors with proven and emerging technologies in areas such as photovoltaic, wind, and carbon capture and energy storage

Munich Re Specialty
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Canopius launches aviation reinsurance business

Specialty re/insurer swoops on Axis Capital's Hartley to lead new London-based unit that will initially write non-proportional business

London Canopius

Viewpoint: The aviation sector faces an increasing threat from weather-related perils

Extreme weather has long been a costly issue for aviation insurers, yet in recent years the combination of mass groundings and more extreme weather events has significantly increased parked aircrafts’ exposure to extreme weather

International Aviation

Aviation reinsurance 'to remain hard' amid reduced proportional appetite

Reinsurers concerned about future profitability amid prior-year loss deterioration and claims stemming from the war in Ukraine, as capacity for war risks cover slashed by one third, Gallagher warns

International Reinsurance

HDI Global Specialty extends aviation platform to Canada

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

Canada Aviation
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Everest appoints Browne head of international corporate strategy

Insurer hires former Chubb Asia-Pacific executive Glen Browne to support international expansion strategy

Everest Re People moves

SiriusPoint names Masojada board chair

Former Hiscox chief executive Bronek Masojada is assuming the chair at a pivotal stage in the Bermuda-based carrier’s development

Bermuda People moves

AM Best upgrades Convex to A rating

Upgrade reflects Bermuda-based re/insurer’s improved business profile assessment, supported by ‘continued enhancement’ of its product diversification, scale and profitability

Bermuda Specialty

Markel Specialty names chief wholesale and retail officers

Positions created to address the ‘unique needs’ of insurer’s wholesale and retail business models

North America Markel
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Political Risk & Trade

Political risk becoming a higher frequency peril

Nine out of 10 businesses reported a political risk loss in the last year, up from one third in 2020, a survey by WTW found

Willis Towers Watson Specialty

Chaucer tracks increasing demand for political risk insurance

Specialty re/insurer says there has been a sharp fall in foreign exchange reserves that has ‘raised the spectre’ of governments failing to pay foreign suppliers

International Chaucer

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
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Lockton names Bannister global head of war and terrorism

Broker continues expansion of crisis management practice with hire of Aon’s executive director of North American terrorism

London Specialty

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
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