News – Page 48
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NewsFidelis Partnership spearheads new Lloyd’s Syndicate
Lloyd’s has given “in principle” approval for Syndicate 3123 in collaboration with Fidelis and private capital provider Hampden Agencies.
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NewsSaudi the ‘main driver’ for Dubai business – IGI’s Labat
IGI’s Dubai hub prioritises facultative business, because treaty reinsurance competition is fierce in the Middle East and sees a construction boom in Saudi Arabia as its biggest pipeline for growth.
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NewsStronger results at Hannover Re, Munich Re, SCOR, Swiss Re – Moody’s report
Improved underwriting results have driven strong earnings and improved resilience at the four biggest continental European reinsurers, according to rating agency Moody’s.
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NewsPool Re members, UK Treasury give backing to modernised treaty model
A shift from a facultative to a treaty model for the UK’s government-backed terrorism reinsurer, gets the go-ahead, to take effect from April 2025.
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News‘Holiday from history’ is over – Howden geopolitical risk report
A record number of elections in 2024, amid escalating geopolitical risks, underscore the value of political violence and political risk insurance, Howden emphasised.
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NewsNew record of 142 nat cats adds up to $108bn in 2023 – Swiss Re
Swiss Re Institute said frequency of events is main driver of insured loss accumulation, with severe convective storms accounting for a record $64bn last year.
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NewsM&A activity to rise due to “PE dry powder” – BMS report
Strong transaction appetite expected in 2024, according to re/insurance broker BMS, due to private equity capital waiting to deploy.
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NewsBMS makes three hires to expand financial and professional risks division
A trio of hires join the London market financial lines team of the mid-sized independent re/insurance broker.
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NewsGuy Carpenter makes senior Asia Pacific appointments
Convex’s former chief underwriting officer in Bermuda joins the reinsurance broker to lead its Pacific business.
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NewsApollo, Munich Re Syndicate, Tokio Marine HCC partner on marine builders’ risk Lloyd’s consortium
The new consortium builds on an existing arrangement in which Apollo has partnered with Munich Re Syndicate on marine hull business since 2019.
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NewsCentre for Disaster Protection to form technical advisory group for Global Shield against Climate Risks
The group will help vulnerable countries access climate and disaster risk finance and insurance support packages via Global Shield.
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NewsPolitical risk market “pivots” away from emerging markets – WTW
WTW grew its credit and political risk insurance portfolio by 25% last year, the broker has revealed in its CPRI Capacity Survey and Market Update 2024, but the market is increasingly turning to developed economies and multilaterals.
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NewsBMS appoints Leahy cyber practice co-leader
The re/insurance broker announced Daniel Leahy joins from rival intermediary Howden.
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NewsSocial and political change: The insurance industry at a crossroads
Beyond providing financial security, insurers are tasked with navigating a complex landscape of political, economic, and societal challenges, writes Antonio Serrapica, partner, Kearney.
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NewsBrit appoints Cary as deputy head of property treaty for Bermuda
David Cary joins Brit from QBE Re, where he was head of property and casualty in Bermuda.
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NewsAgile Lloyd’s Syndicate 2427 approved in principle
New syndicate-in-a-box to focus on niche and SME business written in domestic APAC markets, particularly liability, professional indemnity, accident and health, property and travel.
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NewsMapfre targets 6% growth and 10-11% RoE
Spanish insurer Mapfre aims for a 95% combined ratio by the end of 2026.
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NewsSteinmann joins Hannover Re to lead its German arm after Pickel retires
Change at the top came as Hannover Re announced it had beaten its full-year earnings target; group net income rose to €1.8bn for 2023; reinsurance revenue climbed to €24.5bn; and a return on equity of 19% was “comfortably above minimum target”.
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NewsProbitas buy ‘win-win’ to accelerate ‘organic ambitions’ – Aviva’s Storah
Aviva’s purchase of Probitas gives the insurer instant ‘scale’ in the Lloyd’s market, says UKGI chief executive.
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NewsMiddle East retention levels rising – Chedid Re’s Abi Rached
Local insurers have “more skin in the game” due to the hard market for reinsurance.
