News – Page 2
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Peak Re adds new customised reinsurance solutions team
Hong Kong-based reinsurer said its new tailored products team would be led by Chenwei Li.
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Antares syndicate launches credit and political risks Lloyd’s consortium
The maximum line for the consortium will initially be $40m. Antares will lead with a 75% line with the remaining 25% provided by other Lloyd’s carriers.
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Lancashire Insurance US opens for business
The new US business operates under a delegated underwriting arrangement with Lancashire’s UK platform and is focused on the US excess and surplus market.
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Ascot appoints Craigs to lead third party capital initiatives in Bermuda
Ascot’s new appointment Charles Craigs most recently served as Bermuda CEO of Canopius and group head of that carrier’s reinsurance underwriting.
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Howden Tiger renamed Howden Re
The strategic change for the reinsurance broker follows its acquisition of TigerRisk in January 2023 and Howden’s group-wide rebrand in October last year, uniting its broking operations under one name.
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Swiss Re appoints Berger as group CEO to succeed Mumenthaler
Effective from 1 July, Andreas Berger has been appointed as group CEO, replacing Christian Mumenthaler in the top job at Swiss Re.
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Aon: property cat ‘transitioning’ at April reinsurance renewals
Rates remain broadly flat at previous high levels, according to Aon’s latest Reinsurance Market Dynamics report, focused on the Asia Pacific 1 April 2024 reinsurance renewals.
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Baltimore bridge insured losses could reach $4bn – Morningstar DBRS
Rating agency estimate adds to comments by John Neal that the collapse of the Francis Scott Key Bridge could be a record marine insured loss event, beating 2012’s Costa Concordia disaster.
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Sponsored
Video Q&A: CFC helps launch the world’s first Cyber Monitoring Center
Sponsored: Yiannis Kotoulas, acting editor of GR’s sister title Insurance Times, sat down with James Burns, CFC’s head of cyber strategy to talk about the world’s first Cyber Monitoring Centre.
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Neal issues Blueprint Two update after phase one delayed to October
Lloyd’s of London chief executive John Neal has said that phase one of Blueprint Two will be implemented when there is confidence that the technology works.
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Fidelis 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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Saudi 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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Stronger 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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Pool 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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‘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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New 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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M&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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BMS 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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Guy 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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Apollo, 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.