
Specialty

Princess Empress clean-up costs likely to hit IOPC Funds threshold
Claims submission office opened in Philippines working with P&I provider Shipowners’ Club

Richard Turner quits Victor for job at West of England
High-profile former Iumi president jumps ship in switch to protection and indemnity

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

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

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

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

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

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

HDI Global Specialty extends aviation platform to Canada
Specialty insurer will initially offer general aviation policies through brokers via Aviation IQ platform

Convex backs air mobility MGA Skyrisks
Soon-to-be launched MGA will be led by former AGCS aviation underwriter Alistair Blundy

Lloyd’s 2022: Marine, aviation and transport profits fall
Underwriting profit drops 28% to £280m, despite sharp rate rises following the war in Ukraine

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

R&Q names Hayman non-executive chairman
The specialty insurer wants to create a governance structure more aligned with best market practice

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

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

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

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?

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

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

Chiaramonte to succeed Lowenstein as Sovereign Risk president
Natalie Chiaramonte to lead Chubb-owned political and sovereign risk insurer following retirement of Price Lowenstein

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

Arch swoops on Chaucer for head of terrorism
Andrew Bauckham described as 'one of the most respected figures in the terrorism insurance market'

Pool Re members back Treasury review
Review provides a roadmap for the strategic direction of the terrorism mutual

Pool Re places £100m Baltic Re bond
Terrorism reinsurer upsizes second bond issuance amid strong appetite from capital markets
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