News – Page 20
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Hannover Re Q1 profit on track to meet 2023 target
Third largest reinsurer announces quarterly profit of €484m and a combined ratio of 92.3% on its property and casualty business.
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Reinsurers back Galápagos marine conservation credit deal
Axa XL, Fidelis MGU, Chubb Global Markets, Sovereign Risk Insurance, Mosaic, Coface and others are providing reinsurance coverage.
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Winther appointed chair of Apollo Syndicate Management
New chair of ASML brings an investment banking background at Evercore and non-exec board experience at Hiscox Syndicates and Ecclesiastical.
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Tokio Marine restructures London market teams
London market marine, energy and renewables reshuffle at Tokio Marine HCC International.
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Aon launches climate analytics, advisory unit
Aon’s new Climate Risk Advisory team will use the broker’s Impact Forecasting models to provide physical risk diagnostics and advisory services on climate-related financial risks.
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BMS Re promotes Wheeler to president
Reinsurance broker BMS Re said Andrew Wheeler assumes the role immediately.
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Gallagher Re heralds new era of insurtech investment
Tech investment across insurance bounced back from last year’s final quarter to hit $1.39bn in this year’s first three months, according to reinsurance broker Gallagher Re.
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Aon appoints Marcell CEO of risk capital amid internal reorganisation
Andy Marcell will lead Aon’s commercial risk and reinsurance broking business, part of a restructure for its “Aon United” strategy.
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Munich Re Specialty Group targeting ‘the E in ESG’
Green Solutions launched in a bid to take a leading position in the London market’s sustainability ambitions.
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BMS buys Australian MGA GARD
Australian acquisition billed as a diversifier to BMS Group’s international operations.
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Pool Re’s Clementi welcomes Martyn’s Law legislation
New terrorism legislation coming before the UK Parliament aims to improve protective and organisational preparedness at a variety of premises.
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Energy pricing, transition pushing back climate focus – Beazley
Current fears about energy prices and the need to transition may be blinding insureds to the existential threat that climate change poses, London market specialty insurer Beazley warns.
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Continued pressure expected on UK personal lines - Moody’s
Lingering effects of low pricing and underestimated claims inflation last year will continue to affect UK retail insurers, according to rating agency Moody’s.
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Energy storage market has invisible cyber risks – Aon
The broker warned that a lack of robust cyber-security for critical operational technologies may be a weakness for battery storage risks being underwritten.
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Banking contagion risk limited for European insurers – Moody’s
Rating agency Moody’s sees little immediate threat to European insurers from recent banking turmoil.
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Economic and cyber risks lead global D&O priorities – WTW, Clyde & Co
Data losses and ransomware are top legal concerns for company directors, according to WTW and Clyde & Co’s Directors’ and Officers’ Liability Survey Report 2023.
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Howden war chest reaches £1bn with new investment
The London market broker has raised more than £875m from debt and equity to spend on “M&A, new initiatives and talent”.
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First quarter nat cat economic loss the highest in 12 years – Gallagher Re
Reinsurance broker Gallagher Re said its estimate of $22bn in insured natural catastrophe losses for the quarter showcase “a significant protection gap”.
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Hannover Re quits Net Zero Insurance Alliance
Hannover Re is the third major re/insurer to leave the global climate alliance, after Zurich and Munich Re also recently left.
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Electronic placement at Lloyd’s: What does good look like?
Data, data, everywhere - Peter Smyth, vice president of PlacingHub developer Ebix Europe, shines the spotlight on the data-driven approach, swift onboarding, and API-first strategy that are now essential elements of successful London market electronic placement platforms