Howden launches Australian broking operation with Steadfast

Howden launches Australian broking operation with Steadfast

Howden launches Australian broking operation with Steadfast

Howden has launched an Australian broking operation in association with Steadfast, the insurance intermediary network in Australia, and has formed a strategic partnership to support Steadfast’s London market broking requirements. Howden will join Steadfast’s network, Australia’s largest general insurance platform, to leverage its scale, strength and access, according to the broker. Howden’s operation in Australia will be headed up by…

Reinsurance renewals see widespread price increases, says Fitch

Reinsurance renewals see widespread price increases, says Fitch

Reinsurance renewals see widespread price increases, says Fitch

The January 2021 reinsurance renewals have seen widespread price increases that often went beyond claims inflation, according to Fitch Ratings. It said the reinsurance market continued to harden, driven by pandemic-related claims, high natural catastrophe losses and pressure on liability lines of business. However, Fitch said the increases were capped by abundant capital in the market. “Both traditional and alternative…

Tax changes in Denmark and Guernsey highlighted by Impendulo

Tax changes in Denmark and Guernsey highlighted by Impendulo

Tax changes in Denmark and Guernsey highlighted by Impendulo

Specialist insurance premium tax compliance firm Impendulo has noted two recent tax changes in Denmark and Guernsey. In Denmark, the contribution to the Stormrådet will decrease from DKK60.00 per policy to DKK40.00 per policy, effective from 1 July 2021. The Stormrådet is a storm surge and flood pool, which now exceeds $500m. According to the Danish authorities, this means that…

Chubb appoints chief reinsurance officer

Chubb appoints chief reinsurance officer

Chubb appoints chief reinsurance officer

Jeremiah Konz has been appointed chief reinsurance officer at Chubb. He is currently executive vice-president, reinsurance officer for Chubb Overseas General, the company’s international general insurance business. In his new role, Mr Konz will have management responsibility for the design and purchase of reinsurance programmes for Chubb and its business units globally, managing the company’s reinsurance recoverable assets and overseeing…

Willis Towers Watson adds Shanghai to global P&C hub

Willis Towers Watson adds Shanghai to global P&C hub

Willis Towers Watson adds Shanghai to global P&C hub

Shanghai has been added to Willis Towers Watson’s global property and casualty (P&C) hub. The broker said the move was aimed at enhancing the company’s global placement model for clients. The global markets P&C hub initially focused on the coordination of placement activity across London, Bermuda and Singapore, and Willis Towers Watson said the addition of Shanghai enables the hub…

Hudson acquires renewal rights transfer of liability policies from Validus

Hudson acquires renewal rights transfer of liability policies from Validus

Hudson acquires renewal rights transfer of liability policies from Validus

New York-based Hudson Insurance Group has acquired the renewal rights transfer of a select portfolio of miscellaneous professional liability, financial institutions liability and management liability policies from Validus Specialty Underwriting Services. The business transfer agreement also includes the transfer of ten employees to Hudson, with effect from 1 January 2021. Hudson said the new professional lines team brings deep experience…

MAXIS GBN partners with employee assistance programme platform

MAXIS GBN partners with employee assistance programme platform

MAXIS GBN partners with employee assistance programme platform

ICAS World, an employee assistance programme (EAP) platform, has been selected by MAXIS Global Benefits Network (MAXIS GBN) as a global provider of counselling support and assistance to its multinational clients. ICAS World will be one of the third-party suppliers accessed through the MAXIS global wellness solution. The partnership means that MAXIS GBN’s multinational clients will be able to choose…

US P&C rates continue upwards, says MarketScout

US P&C rates continue upwards, says MarketScout

US P&C rates continue upwards, says MarketScout

Property and casualty rates in the US have continued their upward trend, with MarketScout’s Market Barometer showing the composite rate up 7.1% in the fourth quarter of 2020. This follows a 6.25% increase for the third quarter. According to MarketScout, umbrella liability (+12.7%), directors and officers liability (+11.7%) and professional lines (+10.3%) saw the biggest rate increases. Commercial property rates…

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