HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty appoints Barenthein as MD for Scandinavia

HDI Global Specialty has appointed Thomas Barenthein as managing director of its Scandinavian branch. He also joins the executive board and replaces Mats Westerborn, who will become general manager of aviation at HDI’s Scandinavian branch. Mr Barenthein joins HDI from Inter Hannover, where he was managing director for Sweden and chief branch officer. HDI’s Scandinavian branch in Stockholm is its…

Prepare early for tough renewals, Narim members told

Prepare early for tough renewals, Narim members told

Prepare early for tough renewals, Narim members told

Herman Kerremans, CEO at Howden Belgium, has advised Dutch risk managers to focus on supplying the best and most transparent risk information possible, while preparing fellow management for cost increases as tough renewals loom. Commercial Risk Europe interviewed Mr Kerremans about what risk managers in the Netherlands and wider Benelux region can expect during coming renewals, as members of the Dutch risk management…

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

Covid-19 has pushed insurers forward ‘by a generation’, says IUMI

The Covid-19 pandemic has forced the insurance industry to digitalise “in a few short months” and moved the sector forward “by at least a generation”, said the International Union of Marine Insurance’s (IUMI) Philip Graham, speaking as the body published annual figures for the marine industry. He said the “extremely positive” moves towards digitalisation gained momentum when the pandemic forced…

Covid-19 adds pressure to firming marine insurance market

Covid-19 adds pressure to firming marine insurance market

Covid-19 adds pressure to firming marine insurance market

Covid-19 is adding further pressure to the marine insurance market that had already seen price increases amid a worrying trend of large losses, according to Richard Turner, president of the International Union of Marine Insurance (IUMI). The marine insurance market has yet to see significant claims as a direct consequence of Covid-19, but there will likely be an impact on…

Demand for premium financing grows among larger firms in hard market

Demand for premium financing grows among larger firms in hard market

Demand for premium financing grows among larger firms in hard market

Commercial insurance buyers are increasingly turning to premium financing as they look to maintain insurance cover in a hardening market and cope with big cuts to insurance budgets, according to Premium Credit, a UK-based provider of premium finance. The trend includes risk-managed companies. Insurance premium finance (IPF) is seeing significant, increased uptake, according to Owen Thomas, chief sales officer at…

Beirut port insurance claims already at $425m

Beirut port insurance claims already at $425m

Beirut port insurance claims already at $425m

Insurance claims following the port explosion in Beirut earlier this month have reached $425m across 2,500 claims, according to information published on the Lebanese President’s Twitter account. Following a meeting with local insurers, Lebanon’s economy minister Raoul Nehme said the blast is expected to result in a total of 10,000 insurance claims. Mr Nehme said insurers have given assurance “that…

Axis, Markel and Lancashire report mixed results

Axis, Markel and Lancashire report mixed results

Axis, Markel and Lancashire report mixed results

Axis, Markel and Lancashirehave posted mixed second-quarter and half-year results, as they grapple with varying degrees of Covid-19 underwriting and investment losses. Axis reported net income of $112m for the second quarter, from $166m during the same period of 2019. Operating income was $72m, compared to $137m in the prior year period. The company’s combined ratio improved to 94.7% from…

Lloyd’s approves syndicate to insure transportation of Covid-19 vaccine to emerging economies

Lloyd’s approves syndicate to insure transportation of Covid-19 vaccine to emerging economies

Lloyd’s approves syndicate to insure transportation of Covid-19 vaccine to emerging economies

Lloyd’s has approved in principal a new ‘syndicate in a box’ to insure the storage and transportation of a Covid-19 vaccine to emerging economies, when it is developed. Syndicate 1796 has been developed by Parsyl, an insurance technology company and Lloyd’s Lab alumni, in close partnership with managing agent Ascot and in cooperation with AXA XL, McGill and Partners, and…

Castel Europe acquires Dutch marine business from The Hartford

Castel Europe acquires Dutch marine business from The Hartford

Castel Europe acquires Dutch marine business from The Hartford

Castel Underwriting Europe has agreed to acquire the renewal rights of Navigators Europe’s book of predominantly Dutch marine business from The Hartford. Financial details have not been disclosed. The book predominantly comprises Dutch marine cargo, inland hull, land-based equipment and liability business. Castel Underwriting Europe is a club-style MGA platform and subsidiary of Castel Underwriting Agencies Ltd. Navigators Europe’s Rotterdam-based…

Shipping losses hit new low but Covid-19 threatens improved safety: AGCS

Shipping losses hit new low but Covid-19 threatens improved safety: AGCS

Shipping losses hit new low but Covid-19 threatens improved safety: AGCS

Large shipping losses hit a new low last year with 41 vessels lost worldwide, but total incidents were up year on year and Covid-19 endangers long-term safety improvements, according to Allianz Global Corporate & Specialty (AGCS). The insurer’s annual Safety & Shipping Review analyses reported worldwide shipping losses for vessels weighing more than 100 gross tons. The latest study reveals…

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