-
CRE Legal Regulation
April 23, 2024
Insurance Europe calls for EC to ‘get it right’ on Solvency II
Changes to Europe’s Solvency II regulation at technical level must be “fully aligned” with the intentions of the political agreement reached in December 2023, warned Insurance Europe. Representing national insurance…
-
GRM People Moves
April 23, 2024
Zurich North America names professional liability, cyber leader
Zurich North America has named Kara Higginbotham head of professional liability and cyber for US national accounts. Higginbotham, based in New York, most recently headed corporate accounts for professional liability…
-
CRE People Moves
April 23, 2024
Arch Insurance International names deputy CEO
Arch Insurance International has appointed Kirsten Valder as deputy CEO, responsible for developing the group’s London market and UK regional market, as well as operations in Australia, Bermuda and the…
-
Cyber & Technology
April 23, 2024
IQUW adds cyber cover to US financial institutions policies
Property and specialty insurer and reinsurer IQUW, with a syndicate at Lloyd’s, has launched a combined financial institutions and cyber solution for US buyers. FortiFI includes cyber cover in its…
-
Market
April 23, 2024
Sompo pledges lead capacity for growth in France and Spain
Sompo International is making a big effort to grow in France and Spain, with more continental European markets likely to be targeted, and told Commercial Risk that it will offer…
-
M&A
April 23, 2024
Transactional risk market set to rebalance on back of M&A activity, says Chubb
Chubb’s new international transactional risk platform will initially focus on EMEA risks but will look to expand further in a market where it believes the current imbalance between supply and…
-
GRM Insurance
April 22, 2024
Global insurers’ market capitalisation grows as results improve
The aggregate market capitalisation of the top 25 global insurers grew 8.3% to $3.02trn on a quarter-on-quarter basis during the first quarter of 2024, according to GlobalData. Most of the…
-
Climate Change
April 22, 2024
More than 70% of global workforce exposed to climate change-related health hazards: ILO
A new report by the UN’s International Labour Organization (ILO) finds that a “staggering” 70% of the world’s workforce are likely to be exposed to a “cocktail” of serious climate-change-related…
-
Latin America
April 22, 2024
MNK Group acquires Costa Rican insurer Oceánica de Seguros
UK-based MNK Group has acquired Oceánica de Seguros, an insurer based in San José, Costa Rica. The deal, completed through MNK’s holding company Specialty Management UK, has been confirmed with…
-
Climate Change
April 22, 2024
Europe saw record extreme heat stress days last year, finds EU report
A record number of extreme heat stress days in Europe last year, alongside wildfires, droughts and flooding “paints a sombre picture”, says Copernicus Climate Change Service, part of the EU’s…
-
Asia
April 22, 2024
New chief underwriting officer for Markel’s Indian operations
Priyanka Gautama has been appointed as chief underwriting officer for Markel’s Indian operations, subject to regulatory approval. Operating from Markel’s Mumbai office, Gautama will collaborate with leadership teams across mu...…
-
Market
April 22, 2024
Rates drive change in AM Best’s London market outlook to positive
Rating agency AM Best says strong pricing is driving underwriting profitability and behind its positive outlook on the London insurance market, which has been revised upwards after standing at stable…
-
Brokers
April 22, 2024
North American broker M&As slow in first quarter to Covid-19 levels
Mergers and acquisitions among North American insurance brokers and agents fell 18% in the first quarter, falling to the lowest level of deals since the beginning of the Covid-19 lockdowns…
-
Insurance
April 22, 2024
AI must be carefully monitored but will benefit insurance industry, say experts
The insurance industry is poised to benefit from the use of artificial intelligence but adopters of the technology must stay vigilant against misuse and keep up to date on regulatory…
-
Market
April 19, 2024
Marsh tracks slowdown in global Q1 rate hikes
Marsh’s global insurance rate index increased 1% in the first quarter of this year, compared with 2% in Q4 2023, Marsh McLennan president and CEO John Doyle said on an…
-
GRM People Moves
April 19, 2024
Markel names head of terrorism in London
Chloe Gordge has been appointed as Markel's new head of terrorism in London. Gordge will lead the day-to-day running of Markel’s London terrorism portfolio with responsibility for leading and implementing…
-
CRE Insurance
April 19, 2024
Insurers defend Nord Stream’s €400m lawsuit as act of war
Insurers for the Nord Stream gas pipeline damaged by blasts in 2022 have denied coverage in defence of a lawsuit filed by operators of the pipeline in London’s High Court…
-
Market
April 19, 2024
Allstate posts nat cat loss of $343m for March
US insurer Allstate incurred a $343m pretax catastrophe loss in March, significantly lower than the same period in 2023. The results bring the insurer’s total catastrophe losses for Q1 to…
-
Middle East
April 19, 2024
UAE flash flood losses manageable as insurers adapt to changing weather
The recent extreme weather that caused severe flash flooding in the United Arab Emirates (UAE) is expected to prompt swathes of claims for motor, property and business interruption insurers in…
-
CRE Insurance
April 19, 2024
Generali splits insurance and asset management in restructure
Italian insurer Generali is planning to revamp its insurance and asset management divisions under new CEOs as part of an organisational restructure. As of June, the company will operate as…