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…
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…
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…
AXA XL has appointed Pamela Rosado as general counsel, with effect from 8 February 2021. She will report to Scott Gunter, CEO, AXA XL, and will be based in New York. Ms Rosado takes on the role from interim general counsel, Anthony Recine, who will return to the position of global head of litigation for AXA Group. Mr Gunter said:…
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…
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…
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…
Lesley Harding has been appointed as global head of energy at Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group. She joins with immediate effect and is based at LSM’s London office.
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…
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…
