Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

Lloyd’s names next cohort of insurtech firms for annual innovation programme

Lloyd’s names next cohort of insurtech firms for annual innovation programme

Lloyd’s names next cohort of insurtech firms for annual innovation programme

Lloyd’s has announced the latest cohort of insurtech firms joining its innovation programme, which this year is focusing on claims support services, climate change and decarbonisation, geopolitics and data. The sixth cohort of the Lloyd’s Lab will once again aim to create simpler products for customers. Eleven successful applicants were selected from a total 177, after impressing an expert panel…

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

Widespread misunderstanding of D&O cover among UK directors

A vast majority of UK directors have a fundamental misunderstanding of their D&O insurance coverage and could be left footing the bill for legal claims potentially running into millions. This was the finding of a recent survey of UK board members. It found that as many as 83% are unaware that their D&O insurance is unlikely to cover them should…

Beazley boosts cyber offering in Germany as part of European expansion

Beazley boosts cyber offering in Germany as part of European expansion

Beazley boosts cyber offering in Germany as part of European expansion

Specialist insurer Beazley has launched enhanced versions of its Beazley Breach Response (BBR) and InfoSec cyber policies for businesses domiciled in Germany. InfoSec gives large businesses access to first-party cover for cyber risks. This includes protection for cyber extortion, data recovery costs, as well as business interruption (BI) and contingent BI for losses arising from security breaches, system failures and…

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…

Decision delayed as Aon and WTW offer concessions to get deal past EC

Decision delayed as Aon and WTW offer concessions to get deal past EC

Decision delayed as Aon and WTW offer concessions to get deal past EC

Aon and Willis Towers Watson (WTW) have offered concessions to gain EC antitrust approval for their proposed deal, with a decision from authorities now pushed back by two months as a result. An EC filing shows that “commitments” were received from the two brokers on 9 April and the EC has now restarted the clock on its probe into the…

Rottiers replaced as CEO of Lloyd’s Europe

Rottiers replaced as CEO of Lloyd’s Europe

Rottiers replaced as CEO of Lloyd’s Europe

Lloyd’s Europe’s CEO Sonja Rottiers is stepping down in June and will be replaced by Amélie Breitbur. Ms Rottiers will leave her post at Lloyd’s Europe’s general assembly on 1 June. Ms Breitbur will be her replacement, subject to regulatory approval. She has more than 25 years of international insurance markets experience, including roles at AXA, KPMG and Allianz. She…

‘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…

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

The Federation of European Risk Management Associations (Ferma) is worried that efforts to establish pandemic pools appear to have lost momentum across Europe, and reiterated calls for a “risk-based” pan-European public-private partnership (PPP) for systemic business interruption (BI) risks. Ferma’s president has also called on the insurance industry to do more to help create a solution. Acknowledging the need to…

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