News – Page 54
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NewsAM Best keeps stable outlook on global reinsurance, positive outlook for MGAs
The rating agency said uncertainty is mounting for reinsurers, despite “generational” hard market opportunities.
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NewsDebt-distressed countries turning to non-traditional bailout options – WTW
A report from WTW’s political risk index focuses on an escalating debt crisis in emerging markets.
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NewsSteadfast in turbulent times – Mapfre's Huertas addresses Geneva Association Summit
To mark 50 years of the Geneva Association, a keynote address from Mapfre’s CEO touched on themes of technology, cyber, climate, and closing the protection gap.
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NewsO’Shea appointed CFC CEO after misconduct investigation by Lloyd’s
CFC announces senior management changes following the completion of an investigation by Lloyd’s into allegations of non-financial misconduct at the company, without disclosing the details of the probe or any allegations made.
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NewsBerkshire Hathaway announces death of vice chairman Charlie Munger
Warren Buffett, CEO of Berkshire Hathaway, wrote a short statement praising Munger’s “inspiration, wisdom and participation”.
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NewsState National coming to UK MGA market through Markel International
Markel-owned US carrier State National Companies is to launch a “program services division” for UK MGAs in 2024, the insurer has announced.
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NewsApollo launches credit, mortgage, surety treaty class
From 1/1, re/insurer Apollo has expanded its treaty reinsurance business within its Syndicate 1969 at Lloyd’s.
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NewsTalanx completes Liberty Seguros Brazil acquisition
German insurer HDI moves up to number two in the property and casualty insurance market following the transaction, the company said.
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NewsLloyd’s launches consultation on insuring lower-carbon economy transition
The Lloyd’s market has released a consultation on its roadmap for insuring the transition to a green economy.
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NewsExpanding DIFC promoted as MGA hub for Middle East, Africa and South Asia access
MGAs represent 43% of DIFC’s insurance constituents, as of September, contributing $2.1bn of gross written premium.
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NewsTysers pays fine to resolve Ecuadorian bribery case
A corruption case brought by the US Justice Department has been resolved with fines and a three-year deferred prosecution agreement for both reinsurance broking firms involved.
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NewsThe most climate vulnerable countries could lose 100%+ of GDP from insurable cats – Cambridge, Howden study
Risk-sharing action plan to scale up loss and damage funding for Global South countries to inform COP28 discussions in Dubai.
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NewsLondon, Paris, New York lead global cities resilience index – Tokio Marine
The least resilient cities, according to the study, carried out in partnership with Economist Impact, were New Delhi, Jakarta, Cairo, Dhaka, and, lastly, Lagos.
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NewsMarsh McLennan announces ‘Unity’ Black Sea grain insurance deal with Ukraine
The re/insurance broker has announced the launch of a new insurance facility to support grain exports from Ukraine’s Black Sea ports.
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NewsSnyder appointed Argo CEO after $1.1bn Brookfield acquisition
Brookfield Reinsurance has completed its $1.1bn takeover of Argo Group, with the Bermudan re/insurer to be led by Jessica Snyder.
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NewsChedid Re named reinsurance broker of the year by MEIR
Chedid Re was recognised as “Reinsurance Broker of the Year” at the Middle East Insurance Industry Awards 2023 held on November 16.
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NewsHowden names Bayon de La Tour as its new international cyber leader
The broker’s new international head of cyber will be based in Spain and was formerly head of cyber for Marsh Europe.
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NewsDisaster financing report shows just 2.7% of $71bn in crisis financing was pre-arranged
Addressing the protection gap, only $1.9bn of $71bn in international crisis financing that was used for pre-arranged finance in 2021, according to a study by the Centre for Disaster Protection.
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NewsCanopius Asia CEO Newman takes up UK role
Mark Newman takes over as UK CEO of Canopius, departing his current role leading the London-based re/insurance carrier across Asia Pacific.
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NewsMexico's Hurricane Otis to cost insurers up to $4.5bn – Moody’s RMS
Cat modeller’s estimate reflects wind damage in Mexico, including post-event loss amplification, inflationary trends, and non-modelled sources of loss.
