News – Page 56
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NewsBaden Baden 2023: Hard market conditions driving buyer interest in alternative reinsurance – Guy Carpenter
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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NewsBaden Baden: 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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NewsLloyd’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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NewsOka 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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NewsMunich 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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NewsHowden 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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NewsFidelis 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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NewsDUAL appoint Harries group underwriting director
Harries joins DUAL, the MGA arm of Howden from Berkshire Hathaway Specialty Insurance.
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NewsSwiss 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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NewsGallagher 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.
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NewsHowden settles Guy Carpenter lawsuit, regrets “unlawful” poaching
A lawsuit brought by Guy Carpenter against rival broker Howden over recruitment practices has ended in a settlement and a statement of regret from Howden.
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NewsAon completes its return to India through Global Insurance Brokers acquisition
Aon has come full circle since 2015 when it exited its Aon Global JV, returning to the Indian market and buying out its former broking partner in full.
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NewsPE “at home, evolving” within reinsurance capital raising - Ariel Re
There remains a home for private equity within Ariel Re’s capital raising efforts, said its head of international property reinsurance, Joel Willens.
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NewsMoody’s RMS developing point location data for simpler cat models
2024 is tipped to be the hottest year for 100 million years, with droughts and wildfires continuing to be a major threat, according to the cat modeller’s chief research officer.
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NewsGuy Carpenter appoints Dimitrijevic to lead APAC capital advisory
The reinsurance broker’s new regional head of capital advisory was previously led Swiss Re’s P&C business management for Asia Pacific.
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NewsMoody’s global cyber survey finds 50% rise in cyber insurance premiums
Buyer budgets are on the rise while C-suite visibility of cyber risk has also markedly increased, Moody’s Investors Service found.
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NewsChina is post peak but a Taiwan war would be “uniquely crazy” - Lord Patten speech
Spooks might rate the risk of conflict at 50:50, but Hong Kong’s last British governor used an insurance example to illustrate why Beijing is unlikely to launch a war with Taiwan.
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NewsCorporate demand “rocketing” – Argenta Private Capital
Brokers building their infrastructure, US regional insurers seeking global capital, and London Bridge 2 at Lloyd’s are sources of London market investment interest, according to Argenta Private Capital.
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NewsApplying lessons learnt from other classes to marine - Russell Group’s Basi
Marine hull and cargo could benefit from detailed analysis of relevant events that have befallen other lines of business, writes Suki Basi, Russell Group’s founder and CEO, following IUMI 2023.
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NewsUS property rates are justified and need to stay up – Everest’s Beggs
Higher catastrophe losses are a new normal, and the market turn is an overdue pricing adjustment, argues Everest’s Jill Beggs.
