Energy
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Hartford latest to pull coal cover and investment as pressure ramps up
US insurance group The Hartford has joined the fast-rising number of leading insurers to announce plans to pull cover and…
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Swerma president urges insurers to boost innovation as market hardens
The president of Swedish risk management association Swerma has called on the insurance industry to improve product development and boost…
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Liberty Mutual bows to public pressure with new coal policy
Liberty Mutual Insurance has become the latest insurer to overhaul its coal and energy investment and underwriting policies, after it…
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Liberty Specialty Markets promises to be stable option for European buyers as market changes
Liberty Specialty Markets (LSM) will continue its push into Europe and be a stable partner for risk managers through changing…
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Talanx signs up to UN Principles for Responsible Investment and operates zero carbon footprint
The Talanx Group, parent company of HDI Global and Hannover Re, has signed up to the United Nations-supported Principles for…
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LMA releases silent cyber standard clauses
The Lloyd’s Market Association (LMA) has published model cyber clauses for property, marine and energy policies written in the London…
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Pioneer closes Lloyd’s syndicate
Pioneer Underwriters will close its Lloyd’s syndicate 1980 for the 2020 year of account, because the cost of capital is…
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AXA XL names Welton UK head of energy
AXA XL Insurance has appointed Peter Welton as UK head of energy. Mr Welton takes on responsibility for developing the…
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Gallagher buys Swedish broker Proinova as it targets Scandinavia
Gallagher has bought specialist Swedish broker Proinova for an undisclosed fee. Proinova specialises in the real estate sector and has…
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Australian Reserve Bank warns that climate change could threaten viability of insurance sector
The Reserve Bank of Australia (RBA) has warned that if investors and financial institutions do not take the impact of…
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Energy buyers face further market upheaval with downstream rates up by 30%: Marsh
Energy buyers have one “safe harbour” in the upstream energy market, with all other classes under “extreme stress” to provide…
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Two new senior leaders in AIG’s global specialty business
American International Group (AIG) has appointed two senior leaders in its global specialty business. Steve Eccles will join AIG as…
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Capacity shrinks as insurers pressured to make coal uninsurable
Insurance capacity for coal mining and power generation risks is shrinking rapidly as environmental groups put insurers and brokers under…
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AXA XL appoints global head of upstream energy
Steven Farr has been promoted to lead AXA XL’s global upstream energy team with immediate effect. He becomes global head…
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AXA XL working to tackle non-affirmative cyber cover in suite of products
AXA XL is reviewing its policies to tackle non-affirmative, also known as silent, cyber cover wherever possible, the insurer told…
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Argo warns investors of Q2 earnings hit from reserve increases
Argo Group International, the Bermuda-based specialty insurance and reinsurance group, has announced that its results for the second quarter of…
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Insurers report further market hardening in early results
The first insurers reporting second-quarter and half-year results say rate increases are on the rise, with hardening conditions spreading to…
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Downstream energy insurance buyers faced ‘bruising’ Q2 rate hikes in two-paced market
Downstream energy buyers have been hit by “bruising” rate increases in the second quarter of this year, but those accessing…
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NZ government to demand big hike in cover bought by oil and gas operators
Offshore oil and gas companies that operate off the shores of New Zealand will be required to hold higher levels…
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Insurance costs to rise as two more tankers hit in Gulf of Oman
Two further torpedo attacks on oil tankers in the Gulf of Oman that left one vessel ablaze and both adrift…