Whilst AM Best’s rating of the global reinsurance segment remains stable the firm said it is taking a wait and see approach on whether potential further catastrophe losses, worsening economic market conditions and thinning reserves will result in a hardening of the market or, alternatively, a downgrading in its outlook.
Europe’s corporate insurance brokers need to step up efforts to broaden and deepen their global expertise and capabilities if they are to avoid becoming increasingly irrelevant, according to Commercial Risk Europe’s new survey Risk Distribution, published last week at the DVS conference in Munich, Germany.
When the acid tanker ‘Waldhof’ capsised on the river Rhine near St Goarshausen in January 2011 and the river was temporarily closed as authorities inspected the damage, nobody expected the impact it would have on shipowners and industry.
The decision to carry out our first survey of Europe’s leading brokers was a brave one given the scale of the task but one that proved to be well worth the effort. Risk Distribution is published this month and will be distributed to all CRE readers plus delegates at the DVS annual conference in Germany, Monte Carlo Rendez-Vous and the FERMA Forum. Thanks to Lloyd’s of London and Aon whose sponsorship made this project possible.
Adrian Ladbury talked to Andrew Kendrick, CEO and Chairman, ACE European Group, about the group’s plans for expansion in Europe.
Martin Sullivan recently took on the role of Deputy Chairman of global broker Willis and Chairman and CEO of a new business unit, Willis Global Solutions, that was created to oversee brokerage and risk management advisory services for Willis’s global accounts. He discussed his plans at this exciting phase in the evolution of the broking profession with CRE Editor Adrian Ladbury.
CRE’s analysis of the first half of this years’ results, as reported by brokers, insurers and reinsurers. Please click on the links below to access each analysis.
Agostino Galvagni, CEO of Corporate Solutions at Swiss Re, defended the insurance industry’s performance on innovation in his speech at the DVS symposium yesterday and said there are concrete solutions to the key emerging risk trends.
With the DVS inviting leading insurers to attend a roundtable this autumn to discuss ways to better achieve more innovative solutions to emerging risks, many discussions at the association’s 2011 symposium inevitably centred around the availability of suitable cover, or lack of, for new exposures.
The London company market is significantly larger than previously suggested by market statistics and bigger than many market commentators suspected according to an International Underwriting Association (IUA) report published this week. The report shows that in 2010 the market was worth at least £12.6bn net of commissions or £16.4bn gross.