Howden urges insurers to up game on intangible risk

Howden urges insurers to up game on intangible risk

Howden urges insurers to up game on intangible risk

Howden has called on the insurance industry to seriously rethink how it can help corporates transfer mounting intangible risks, which are on the rise following Covid-19. In a new report, the broker urges the industry to radically rethink its risk silo approach and come up with solutions that fit today’s interconnected threat landscape. Howden’s analysis shows that nearly 70% of…

‘Two-tier’ energy market remains tough for many buyers

‘Two-tier’ energy market remains tough for many buyers

‘Two-tier’ energy market remains tough for many buyers

Energy insurance buyers must navigate a two-speed market, with higher rate increases for less favourable business, while those that suffered significant rate increases last year are generally seeing more modest increases on renewal, concludes a new report from Willis Towers Watson (WTW). “A two-tier market dynamic is beginning to evolve, between those programmes that insurers truly value from a risk…

Thomas Miller appoints consultant for European growth

Thomas Miller appoints consultant for European growth

Thomas Miller appoints consultant for European growth

Marine and offshore specialty MGA Thomas Miller Specialty has recruited Sven-Erik Braun as a consultant to build the group’s European strategy. Mr Braun will be based at the company’s Hamburg branch, bringing more than 30 years’ experience of the maritime sector. He served as managing director of marine broker Döhle Assekuranzkontor GmbH for 14 years. Danielle Champion, CEO of Thomas…

Gallagher buys Parisco to boost marine and energy offering in the Nordics

Gallagher buys Parisco to boost marine and energy offering in the Nordics

Gallagher buys Parisco to boost marine and energy offering in the Nordics

Gallagher has bought Oslo-based marine and energy broker Parisco for an undisclosed fee. Parisco is a Norwegian marine and energy broker founded in 2001 that serves contractors, offshore service vessels, exploration and production companies, shipping, passenger vessels and renewable energy clients. CEO Dag Magne Torjussen and his ten-strong team will join forces with Gallagher’s existing Oslo-based specialist marine broker Bergvall…

Lloyd’s should cease cover for Bahamas oil drilling project, says campaign group

Lloyd’s should cease cover for Bahamas oil drilling project, says campaign group

Lloyd’s should cease cover for Bahamas oil drilling project, says campaign group

A climate action campaign group has called on Lloyd’s to stop insuring a new project by the Bahamas Petroleum Company, which began exploratory drilling offshore from the Caribbean island in December 2020 as part of plans to open a new oil field. Lloyd’s confirmed that it was insuring the project in January this year. SumOfUs, with the support of 30…

Swiss Re pledges to cease global coal treaty business by 2040

Swiss Re pledges to cease global coal treaty business by 2040

Swiss Re pledges to cease global coal treaty business by 2040

Swiss Re will begin tightening its treaty (re)insurance underwriting policy for thermal coal risks from 2023 and exit all exposures in OECD countries by 2030 and the rest of the world by 2040. New thermal coal underwriting thresholds will be applied across Swiss Re’s property, engineering, casually, credit and surety, and marine cargo lines of business from 2023. They will…

Aon strengthens global renewables network with offshore wind appointments

Aon strengthens global renewables network with offshore wind appointments

Aon strengthens global renewables network with offshore wind appointments

Aon has boosted its global renewables network by appointing Marsh’s Ray Spreadbury as executive director and Sarah Burston, who is currently a public sector risk manager, as director for offshore wind. The two appointments will work within Aon’s Global Broking Center (GBC) and be based in London. They will report to Aon’s power team lead James MacNeal. Mr Spreadbury takes…

AXA XL appoints StarStone’s Bishop to UK downstream energy and power team

AXA XL appoints StarStone’s Bishop to UK downstream energy and power team

AXA XL appoints StarStone’s Bishop to UK downstream energy and power team

AXA XL Insurance has named StarStone’s Mathew Bishop as senior underwriter for downstream and power in the UK and Lloyd’s market. Mr Bishop, who was previously senior underwriter of onshore energy, power and utilities at StarStone, will be based in London. Nicola Harris, head of energy UK and Lloyd’s market at AXA XL Insurance, said: “I am delighted that Matt…

SiriusPoint launches into harsh market with $3bn of fresh capital

SiriusPoint launches into harsh market with $3bn of fresh capital

SiriusPoint launches into harsh market with $3bn of fresh capital

European risk and insurance managers will welcome news of the formal launch of SiriusPoint, a new Bermuda-based international specialty insurance and reinsurance company. Investors clearly like the look of the international P&C insurance and reinsurance markets currently, as the new carrier launches with more than $3bn in initial capital. SiriusPoint is the result of the previously announced merger between Third…

Chubb centralises new energy team for large corporates in London

Chubb centralises new energy team for large corporates in London

Chubb centralises new energy team for large corporates in London

Chubb has formed a new energy team within Chubb Global Markets (CGM) to centralise underwriting for its large corporate clients in EMEA, Asia-Pacific and Latin America. CGM houses Chubb’s London market wholesale and specialty business and Lloyd’s platform. Middle-market energy customers will continue to be underwritten locally. Andrew Brown moves to head the team from his previous role as chief…

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