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NewsSwiss Re splits business into P&C Re and L&H Re
Urs Baertschi will lead P&C Re and Moses Ojeisekhoba will take over leadership of Global Clients and Solutions
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Beazley reveals 13% rise in cyber fraud claims
Organisations must get smarter about educating employees to spot fraudulent tactics
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Coalition launches ‘full-stack’ cyber insurer
A- rated carrier will target small businesses and brokers and is backed by Coalition’s Active Insurance platform
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Hannover Re expects 2022 net income of €1.4 billion
The reinsurer has increased its net major-loss budget for 2023 to €1.725 billion
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LMA ‘sharply focused’ on supporting market’s transformation
Will lend its expertise to issues around systemic cyber, climate litigation, renewable energy and international wordings
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Aspen appoints Mike Duffy to UK boards as NED
Duffy was most recently Group chief underwriting officer for Canopius, where he held several board roles
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Optio Re MENA commences trading
The specialty MGA is now open for business in MENA through its Dubai-based operation
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Howden Tiger offers “new force” in reinsurance broking
The broker is turning its sights to ’high growth specialist areas’ including MGAs and facultative reinsurance
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Hesitant capital remains sidelined despite rating improvements - AM best
High levels of nat cat losses, coupled with rising inflation and geopolitical concerns, is denting appetite for property cat
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WTW launches new XOL cyber facility as ‘ransomware crisis’ continues
Broker offers up to $50m of Lloyd’s excess layer capacity, as firms continue to cite cyber risk as a top priority
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“Fingerprints of climate change” evident in 2022 nat cats
2022 is the fifth year since 2017 in which insurance losses have crossed the $100 billion threshold - Gallagher Re
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Miller International launches, names Mike Papworth MD
Ron Whyte becomes head of Asia and Matthew Keeping succeeds Papworth as head of Property and Casualty
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SCOR names Thierry Léger CEO as Laurent Rousseau resigns
Léger was most recently the chief underwriting officer of Swiss Re and is tasked with practising ‘strict risk management’
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Global nat cat losses surpassed $313 billion in 2022 - Aon
$132 billion was covered by insurance, revealing a 58% ‘protection gap’; Hurricane Ian was the most costly event of the year
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Parametrix to pay claims after MS Azure Outage
Outage at the world’s second-ranked cloud service provider brought down multiple regions for nearly three hours
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Swiss Re CorSo promotes CRO Arquint to EMEA CEO
She replaces Fred Kleiterp, who is leaving the company to become European general manager at Beazley
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Aon and top reinsurers launch Open Exposure Data Standard
Initial testing on reinsurance placement data for Japan, Australia and China has proved successful
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Cyber war endorsements could invite innovation
These include the LMA war exclusion clauses introduced in November 2021
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Swiss Re’s three renewals takeaways
Capacity conundrums, late negotiations, rate increases and tighter wordings all came into play at 1 January
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Newly-merged Howden Tiger launches fac division
Globally, it will be chaired by industry veteran Elliot Richardson and led in London by Gordon Craig
