News – Page 10
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Risks associated with AI and big data becoming more of a concern – Axa
’As an insurer, our role is to propose solutions and we are fully mobilised to fulfil it,’ says chief executive
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London Bridge 2 has alternative capital pipeline up to $1bn - Lloyd’s CFO Keese
Lloyd’s of London’s flagship London Bridge 2 project for facilitating the flow of alternative capital into the market currently has between $500m and $1bn under negotiation, according to Lloyd’s chief financial officer Burkhard Keese.
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Sarah Warren Returns to Argenta as head of energy
This appointment marks Warren’s return to Argenta, having joined the business in 2010 to grow Argenta’s upstream energy portfolio
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Two new members elected to Lloyd’s Council, both deputy chairs re-elected
Sean McGovern, CEO for the UK and Lloyd’s at re/insurer AXA XL, is one of those elected to the Lloyd’s Council.
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LMG makes apprentice drive to bring young talent to London market
”Our market is attractive to young people if you open the door to them”, said Sean McGovern, LMG chair.
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Aviva targets “market-leading” position in the high net worth insurance business
Ann Owen, Aviva’s managing director for HNW speaks to the “insane” pace of the past few years and how a defined strategy is driving the business forward.
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Moody’s RMS to invest ‘full guns blazing’ in cyber as market reaches tipping point
Catastrophe modeller Moody’s RMS is investing heavily in cyber modelling in response to re/insurance demand.
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Ransomware attacks break records, up 95% in 2023 – Corvus
Law practices, government agencies, manufacturing, oil and gas, transportation, logistics and storage sectors were among the sectors hardest hit by a record-breaking spike in ransomware attack frequency.
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Upward pricing momentum continues, reinsurers “shouldn’t forget” previous years – Ariel Re
For this week’s reinsurance meeting in Baden-Baden, property underwriters for Ariel Re are upbeat about continued hard market pricing.
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Hard market conditions driving buyer interest in alternative reinsurance – Guy Carpenter in Baden-Baden
The reinsurance broker used its symposium at the start of the Baden Baden meeting to discuss alternative reinsurance structures for meeting capacity needs and the inflow of new capital.
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Hannover Re stresses upward pressure on German P&C terms and pricing
High inflation and claims expenditure on lines from motor insurance to property catastrophe events mean German reinsurance rates will rise, Hannover Re warned.
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Lloyd’s reveals global economy exposed to $3.5trn major cyber attack
A systemic risk scenario from Lloyd’s focused on “a hypothetical but plausible cyber-attack”, with the US, China and Japan hardest hit.
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Oka gets Lloyd’s ‘in principle’ approval for Asta-managed SIAB 1922
A new “syndicate in a box” gets the nod from Lloyd’s to go ahead, expecting to begin underwriting at the start of next year.
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Munich Re’s Winter predicts a hard market for casualty in 2024
The casualty reinsurance market is firming up, due to US legal trends and inflation, said Marcus Winter, president and CEO of North American P&C reinsurance at Munich Re.
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Howden Ventures innovation hub launches with £500m capacity
New incubator backed by delegated underwriting capacity from backed by Lloyd’s underwriters, including Tokio Marine Kiln, Chaucer, and Liberty Specialty Markets. Its first investment was named as CetoAI, a marine technology firm.
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Fidelis MGU, Castlelake launch Itasca MGA for aviation business
Investment manager Castlelake said it believes aircraft non-payment insurance has the potential to unlock attractive financing increasingly out of reach for many aircraft buyers and owners.
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DUAL appoint Harries group underwriting director
Harries joins DUAL, the MGA arm of Howden from Berkshire Hathaway Specialty Insurance.
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Swiss Re calls for insurance innovation to meet digital risks
Latest Sigma study from the Swiss Re Institute focuses on the threat posed by a digital risk protection gap.
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Gallagher Re publishes report on ‘Gray Rhino’ cyber cat risk
A new paper from reinsurance broker Gallagher Re is focused on the prospect of a large-scale, systemic cyber-attack.