All News articles – Page 3
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NewsSoft market for power and offshore energy – two broker reports
Absence of major losses means competitive pricing in power insurance, according to WTW, while offshore renewables faces a long-term soft market, NARDAC said.
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NewsProfit eludes US homeowners’ insurance market – Aon report
“Strong rate activity” isn’t enough to turn around negative to low ROEs for US homeowners insurance carriers, the broker has warned.
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NewsMoody’s RMS puts $11bn insured estimate on Helene
Hurricane Helene will cause an insured loss of between $8bn and $14bn, according to the estimate of catastrophe modeller Moody’s RMS.
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NewsPolitical Risk in 2024: tensions rise as US election looms – HIVE
David Langran, class underwriter, HIVE Underwriters, highlights how the 2024 US Presidential election and rising global conflicts are intensifying political risk, requiring underwriters to navigate growing uncertainties and manage exposures with care.
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NewsAon names Schultz as global vice chair of reinsurance
Richard Pennay is to replace Paul Schultz as the CEO of Aon Securities, the broker’s ILS arm.
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NewsVerisk expands Whitespace with US launch
The technology firm expands its Whitespace platform for excess and surplus and specialty re/insurance business.
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NewsFidelis Partnership launches Silverflame Re
Specialty reinsurance MGA is the latest to be launched via the MGA group’s Pine Walk platform.
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NewsOptio buys European film and events MGA Circles
Specialty MGA makes its largest European acquisition to date for Luxembourg-based contingency and special risks firm.
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NewsCyber-attacks doubled since 2020 – QBE research
The number of disruptive and destructive global cyber-attacks taking place each year will increase by 105% to the end of 2024, according to a report from insurer QBE.
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NewsSaudi Re appoints Ahmed Al-Jabr as new CEO
The reinsurer’s new CEO was previously leading Saudi Re in an acting capacity; in the first half of 2024 Saudi Re grew its book by 19% to SAR 1.4bn gross premium.
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NewsMiller completes acquisition of specialty re/insurance broker Bruzon
Independent broker Miller finalises its acquisition of Spanish broker, its third Continental European acquisition in the past two years.
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NewsAcrisure Re appoints Sharpe head of specialty reinsurance
London market appointment expands the reinsurance broker’s international reinsurance division, joining from rival Gallagher Re.
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NewsPositive pricing dynamics benefit MENA and SSA reinsurers – AM Best
Two reports from rating agency AM Best give an upbeat summary of the market environment for reinsurers in the regions of Middle East and North Africa (MENA), and Sub-Saharan Africa (SSA).
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NewsHurricane Helene slams into Florida – Moody’s re/insurance impact report
Insurers most exposed to the storm are Florida-only carriers, the ratings agency emphasised.
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NewsThe Fidelis Partnership launches new Pine Walk MGA, Seraphina
Pine Walk Capital has now established ten MGAs, the latest focused on international property to support the Fidelis Partnership’s BRICS+ strategy to broaden the geographical footprint of the business.
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NewsStrikes at US East Coast ports could generate a $63bn hit – Russell Group
Economic losses could be severe from industrial action threatened in October at 36 American ports, from New York to Houston.
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NewsRepresenting the insurance side of the City – Bronek Masojada RVS 2024 interview
Former Hiscox CEO Bronek Masojada was a new Sheriff in town, representing the City of London, at RVS 2024 in Monte Carlo, where he caught up with GR’s David Benyon.
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NewsFirst ever insurance payout of Red Cross disaster fund triggered in 2024
Demands for disaster relief this year surpassed the ‘deductible’ threshold of the Red Cross and Red Crescent’s IFRC-DREF’ disaster fund, the NGO has reported.
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NewsDive In turns 10: Festival launches with over 130 events globally
Celebrating ten years of Dive In, 2024’s festival launches with over 130 free virtual and hybrid global events.
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NewsHowden Re highlights improved Central European flood resilience
Significant investment by a number of Central European countries on flood defence measures since 2002 had a major impact in ameliorating the consequences of recent floods, the reinsurance broker said.
