AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

Nephila Climate, the weather and ESG-driven specialty division of Bermuda-based Nephila Holdings, together with Allianz Global Corporate & Specialty’s (AGCS’s) alternative risk transfer unit, have closed a first set of solar proxy revenue swaps for two projects in Australia, the Susan River Solar and Childers Solar facilities. The two new five-year transactions announced this week by Nephila and AGCS will…

Energy market on the edge

Energy market on the edge

Energy market on the edge

Energy insurance buyers have been spared large price hikes following last year’s hurricanes, but questions remain about the sustainability of current market conditions. Hurricanes Harvey, Irma and Maria were predicted to prompt meaningful energy rate increases but have resulted in only “modest” price rises, according to a recent Willis Towers Watson 2018 report on the sector. The limited impact was…

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

SCOR has reorganised its growing SCOR Business Solutions (SBS) unit in a move it says will make the firm more relevant to customers, be easier for brokers to use and help deliver planned growth in the large global corporate primary market. The Paris-based group said that in line with its current strategic ‘Vision in Action’ plan, it is “enhancing the…

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

Talanx has decided to merge the primary specialty operations of its Hannover Re and HDI Global operations to create HDI Global Specialty, an international specialty insurer that will kick off with more than €1bn in premium income. HDI Global, along with the other leading industrial insurers, is struggling to deliver strong and profitable growth in core traditional European lines and…

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

The tough stance taken by energy underwriters on terms and rates in the immediate aftermath of the three large Gulf of Mexico hurricanes last year has not been sustained, according to Willis Towers Watson’s 2018 report on the sector. While year-on-year rate decreases in the global energy market ended abruptly following the 2017 hurricane season, buyers have found premium increases…

Aegis bucks 2017 loss trend

Aegis bucks 2017 loss trend

Aegis bucks 2017 loss trend

Lloyd’s insurer Aegis London has squeezed a small but significant profit out of 2017, in a year that saw catastrophes wipe out profits for most of its competitors in the London and international markets. Aegis London recorded a combined ratio of 99% last year, and although that was up from 91% in 2016, Aegis London said remaining in profit sets…

XL Catlin appoints EMEA head of energy

XL Catlin appoints EMEA head of energy

XL Catlin appoints EMEA head of energy

XL Catlin has appointed Nicola Harris as head of energy for the EMEA region. From her base in Dubai, Ms Harris will lead XL Catlin’s energy underwriting teams in Dubai, Paris, Amsterdam and Madrid. She will also develop insurance solutions for the energy sector. Ms Harris joins XL Catlin from Allianz Global Corporate & Specialty, where she was head of…

BI risks rise for energy sector as supply chains intertwine, warns Marsh

BI risks rise for energy sector as supply chains intertwine, warns Marsh

BI risks rise for energy sector as supply chains intertwine, warns Marsh

Global energy firms face growing business interruption (BI) risks during the next ten years following changes to business practices, including supply chain integration and asset consolidation, according to Marsh. At its Energy Industry Conference in Dubai this week, the broker also noted that about three quarters of energy executives view BI as the biggest cyber loss concern. In a report…

Verisk rolls out EPIX platform to help deliver better energy risk transfer options

Verisk rolls out EPIX platform to help deliver better energy risk transfer options

Verisk rolls out EPIX platform to help deliver better energy risk transfer options

Verisk has launched a new platform to help insurers better manage complex energy exposures, with a tool for mapping the sector’s nat cat and supply chain risks to follow shortly. The suite should ultimately help insurance buyers secure better cover for their risks. Verisk’s Energy & Power Intelligence Xchange (EPIX) uses data analytics, including benchmarking and risk-scoring, to deliver research…

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil prices are unlikely to be impacted by geopolitical risk in 2018, according to risk analysis firm Verisk Maplecroft. It said only a serious escalation of troubles on the Korean Peninsula or between Saudi Arabia and Iran would impact the oil market this year, and both events are considered unlikely. However, in a report on the political risk outlook for…

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