All News articles – Page 28
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NewsHail risk putting pressure on renewables – GCube CEO
Fraser McLachlan warns that hail is becoming an increasingly serious threat, with re/insurers keen to limit exposure, which represents a challenge for new renewable energy projects.
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NewsAXA XL appoints Gosselin as CUO for UK and Lloyd’s
The re/insurer’s new London market chief underwriter joins from Liberty Mutual, where he was global leader for energy and transition risk, and a former CUO of Liberty Specialty Markets.
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NewsHannover Re expects €2.1bn profit for 2024 with P&C re to lead revenue growth
The German reinsurer has set out its financial ambition for 2024-2026 strategy cycle, including reinsurance revenue expectations of more than 5% growth next year.
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NewsHowden Tiger appoints Schultz to lead Continental European casualty reinsurance
Wolfram Schultz joins from AXA GIE in Paris, where he was responsible for analysis, strategy, and optimisation of the French insurer’s incoming and outgoing global reinsurance business.
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NewsAfrica Specialty Risks launches at Lloyd’s with Apollo
ASR Syndicate 2454 aims to begin underwriting in March 2024, and will focus on underwriting business across Africa, which represents around 2% of Lloyd’s business globally.
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NewsHiscox, Google Cloud launch AI collaboration on London market lead underwriting “from submission to quote”
Augmented underwriting by the insurer’s Hiscox London Market division could reduce the time for lead open-market quotes from three days to three minutes, Hiscox said.
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NewsAon Client Treaty expands its share of business for 2024
For 2024, all ACT’s existing carriers have renewed their participation with QBE continuing as the lead. Two new carriers have also come on board, Aon revealed.
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NewsBlueprint Two delayed after LMA request
A statement from Lloyd’s confirms phase two of its digital transformation plan is being pushed back from October 2024 to April 2025 after a request from the LMA’s board.
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NewsSwiss Re: SCS losses reach record $60bn in 2023
The reinsurer said natural catastrophes will once again break several loss records in 2023, with severe convective storms driving the numbers.
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NewsTwo North America co-heads appointed to Howden Tiger Capital Markets & Advisory
The reinsurance broker’s M&A and capital raising arm announced new roles for Michael Forman and John Stamatis, both internal appointments.
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NewsEnd of the US hurricane season for 2023 – MS Amlin comment
With the close of the hurricane season at the end of November, the re/insurer warned that “one relatively subdued North American season doesn’t signal…that it’s time for a market softening”.
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NewsMGA Optio adds political violence, terrorism capacity
Specialty MGA has partnered with a US carrier to deploy fresh political violence capacity, reflecting greater appetite for the standalone insurance business, as buyers seek protection from terrorism and civil unrest risks, and reinsurers eye recent SRCC losses with concern for 1/1.
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NewsHowden addresses COP28 on the private sector’s role in protecting vulnerable countries
David Howden, founder and CEO of Howden, gave a keynote speech at the COP28 summit on the power of the private sector to protect vulnerable countries against the effects of climate change and unlock investment in their future.
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NewsBeat Capital launches RedRiff A&H business with Peter Wilkins as CEO
RedRiff will provide cover for specialised A&H insurance and reinsurance through a Lloyd’s consortium, led by Beat Syndicate 4242.
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NewsAon promotes Clarke to lead renewables, Global Broking Centre and UK
Clarke was most recently a member of the risk management team at BP and in her new Aon role will report to Jon Wiegand, Aon’s head of power, within its Global Broking Centre.
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NewsAM Best keeps stable outlook on global reinsurance, positive outlook for MGAs
The rating agency said uncertainty is mounting for reinsurers, despite “generational” hard market opportunities.
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NewsDebt-distressed countries turning to non-traditional bailout options – WTW
A report from WTW’s political risk index focuses on an escalating debt crisis in emerging markets.
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NewsSteadfast in turbulent times – Mapfre's Huertas addresses Geneva Association Summit
To mark 50 years of the Geneva Association, a keynote address from Mapfre’s CEO touched on themes of technology, cyber, climate, and closing the protection gap.
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NewsO’Shea appointed CFC CEO after misconduct investigation by Lloyd’s
CFC announces senior management changes following the completion of an investigation by Lloyd’s into allegations of non-financial misconduct at the company, without disclosing the details of the probe or any allegations made.
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NewsBerkshire Hathaway announces death of vice chairman Charlie Munger
Warren Buffett, CEO of Berkshire Hathaway, wrote a short statement praising Munger’s “inspiration, wisdom and participation”.
