News – Page 49
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NewsSCOR renews its contingent capital facility
Provides up to €300m coverage in case of extreme events or a significant fall in the share price
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NewsHowden appoints Marc Lehmann as head of Climate Analytics
He joins from Jupiter Intelligence, a climate risk data and analytics provider
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NewsAM Best: European insurers enjoy post COVID profits
Earnings improved overall, and a number of players saw materially higher profits in the absence of pandemic-related losses
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NewsSompo completes sale of EAL to RiverStone
Sale of the run-off business is part of Sompo’s strategy to consolidate its UK presence into one company market platform
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NewsProperty rates set to soar 50% at 1/1 - Beazley
Beazley is ready to ‘step up’ at a time of market dislocation, says Treaty head Patrick Hartigan
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NewsClimate change justifies 50% property cat rate hikes - EY
Cat events have cost UK re/insurers more than double over the past six years than the preceding decade
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NewsBMA introduces ‘targeted enhancements’ to regulatory regime
Revisions will bolster Bermuda’s international reputation and financial stability, says industry body
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NewsMunich Re raises profit guidance for 2023
In its reinsurance business, the group is aiming for a profit of around €3.3 billion next year with a COR of 86%
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NewsInsurance sector ‘perfectly positioned’ for carbon removal action – Swiss Re
Swiss Re’s senior risk manager advises underwriters to not be ‘scared’ of providing cover for carbon removal
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NewsQBE International names Rob Stone CFO
He was most recently managing Equator Re, QBE’s inward reinsurance facility, before stepping in to run the Finance, Actuarial and Legal function
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NewsFresh protests in the City over controversial coal project
It follows a tip-off that Probitas1492 is insuring the Adani Carmichael’s thermal coal project rail line, haulage operation and port
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NewsLime Syndicate Management gets green light from Lloyd’s
Headed up by former Barbican boss David Reeves, it will offer new clients a legacy-free ‘plug and play’ solution
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NewsDescartes launches balance sheet insurer
Sébastien Piguet, Descartes Underwriting’s chief underwriting officer, will serve as CEO of Descartes Insurance
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NewsLloyd’s welcomes Richard Dudley as Council member
He replaces Dominic Christian, who will be stepping down on 31 January 2023 after nine years
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NewsBermuda reinsurers anticipate $13 billion in Ian claims
Total (re)insurance losses resulting from Hurricane Ian are expected to total between $50 billion and $75 billion
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NewsFitch follows S&P in SCOR downgrade
Downgrade reflects the reinsurer’s continued weak financial performance, which “has worsened in 2022”
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NewsInflation and nat cats are creating ‘perfect storm’ at 1/1
A sharp reduction in available nat cat reinsurance capacity will make for a challenging renewal season - Clyde & Co
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NewsChina insurance outlook revised on easing of lockdown rules
AM Best has revised its market segment outlook on the China non-life insurance industry to stable from negative
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NewsHong Kong unveils risk and insurance roadmap
Markets in the Mainland and Hong Kong will be brought closer to transform the SAR into a ’global risk management and insurance hub’
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NewsLloyd’s participants should “lean into” hard market - Tiernan
Market has “headroom” to grow its cat appetite and syndicates with ’capacity, capability and expertise’ should take advantage
