New head for XL Catlin’s APAC energy, property and construction team

New head for XL Catlin’s APAC energy, property and construction team

New head for XL Catlin’s APAC energy, property and construction team

XL Catlin has appointed Todd Wilhelm as the regional product leader for its energy, property and construction division in Asia-Pacific. Mr Wilhelm will be based in Singapore and charged with growing the unit ahead of the much anticipated Chinese ‘Belt and Road’ initiative, which is expected to generate more than $4trn worth of infrastructure projects across the region. Mr Wilhelm…

HDI Global makes leadership changes in Australasia

HDI Global makes leadership changes in Australasia

HDI Global makes leadership changes in Australasia

Industrial lines insurer HDI Global has announced a number of executive changes in its Australasian business. The new appointments cover property, power and energy, and marine lines. Among these changes is the departure of Kai Brueggeman, underwriting manager for property and marine in Australasia, who will leave his Australian base to take up a new international leadership role within the…

AXA pulls insurance and investments from coal producers in climate change pledge

AXA pulls insurance and investments from coal producers in climate change pledge

AXA pulls insurance and investments from coal producers in climate change pledge

AXA has warned world leaders that the effects of global warming are not insurable, as it unveiled a raft of new corporate actions that commit it to the fight against climate change, including calling a halt to insuring or investing in new coal-based projects. The news follows similar moves by other insurers. As world leaders gathered in Paris for a…

Cunningham Lindsey appoints director for Brazil growth

Cunningham Lindsey appoints director for Brazil growth

Cunningham Lindsey appoints director for Brazil growth

Loss adjuster Cunningham Lindsey has appointed Andre Lopes as director in a move to boost its Brazilian operations. Mr Lopes moves to Cunningham Lindsey from Crawford & Company, where he was CEO for Brazil. Cunningham Lindsey said Brazil is one of its key growth markets. It already has offices in Sao Paulo and Rio de Janeiro, and provides adjusting services…

Nigerian oil giant receives 577 bids for insurance programme

Nigerian oil giant receives 577 bids for insurance programme

Nigerian oil giant receives 577 bids for insurance programme

The Nigerian National Petroleum Corporation (NNPC) has publicly opened 577 bids submitted by firms seeking to secure the insurance renewal contract for the corporation’s oil and non-oil assets. NNPC group general manager, risk management and insurance, Modupe Bameke, said that, apart from being a requirement of the Bureau of Public Procurement, the public opening of bids has become part of…

IUMI highlights another fall in global marine premium income amid continuing uncertainty

IUMI highlights another fall in global marine premium income amid continuing uncertainty

IUMI highlights another fall in global marine premium income amid continuing uncertainty

Global marine underwriting premiums fell by 9% in 2016 to $27.5bn, following a similar fall the previous year, according to the latest annual statistical report on the marine insurance market by the International Union of Marine Insurance (IUMI). The hull sector saw a 10% fall in premium income to $7bn, while the cargo sector fell by 6% to $15bn. The…

Gas development boost in west Africa

Gas development boost in west Africa

Gas development boost in west Africa

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has signed a memorandum of understanding (MoU) with the government of Burkina Faso, to supply the west African country with liquefied natural gas (LNG) and build critical infrastructure to import, store and transport gas. The initial three-year agreement compels both sides to negotiate and sign a LNG sales and purchase agreement and a…

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Irma set to cost insurance industry less than initially feared and unlikely to shift market

Insured loss estimates from Hurricane Irma are lower than initially feared, with the latest placing costs at around $25bn. Experts predict that losses from Hurricanes Irma and Harvey will not shift global insurance market pricing. Yesterday, risk analysis firm Karen Clarke & Co estimated that insured losses from Hurricane Irma will total $25bn, with $18bn of that figure resulting from…

AGCS adds senior underwriter to energy team in London

AGCS adds senior underwriter to energy team in London

AGCS adds senior underwriter to energy team in London

Allianz Global Corporate & Specialty SE (AGCS) has strengthened its energy team, with the appointment of Anthony Vassallo as senior underwriter leading downstream energy for AGCS’s regional unit London, which includes the UK, Ireland, Dubai, Russia, the Nordic region, Australia and New Zealand. AGCS said he brings extensive global downstream expertise to the team. Most recently, he was responsible for…

Irma and Harvey to hit insurance industry’s earnings but unlikely to shift global market conditions, say experts

Irma and Harvey to hit insurance industry’s earnings but unlikely to shift global market conditions, say experts

Irma and Harvey to hit insurance industry’s earnings but unlikely to shift global market conditions, say experts

Insured US loss estimates from Hurricane Irma have fallen as the storm headed west and reduced to a category 1 storm, but the insurance industry is still expected to face a hefty bill. Industry experts say losses from Hurricanes Irma and Harvey will hit the insurance industry’s profits but are unlikely to cause a market-wide hardening. Air Worldwide said today…

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