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Syndicates forecast deteriorating Lloyd’s results for 2017/2018
19th February 2020
A number of Lloyd's of London syndicates have been reporting updated forecasts for their results on the 2017 and 2018 years of account in recent days and there are signs of some deterioration. The performance of Lloyd's syndicates has been a focus over the last year, of course, as the market ... Read the full article
AmWINS appoints Matthew Crane as CEO of THB Group
3rd February 2020
Specialty insurer AmWINS has announced the appointment of Matthew Crane as Chief Executive Officer (CEO) of THB Group, its specialist international re/insurance broking and risk management firm. Crane, who will also take up the role of President of the International division of AmWINS, succeeds outgoing CEO Frank Murphy. Murphy has served as ... Read the full article
Tysers announces minority investment in Bermuda’s Helix
14th January 2020
Tysers, the specialty London-based wholesale broker, has announced a minority investment in Helix Underwriting Partners Limited, the first multi-line independent Managing General Agent in Bermuda. Helix, which was founded by re/insurance industry veterans Claude Lefebvre, Nicholas Lucking and Neville Watson, launched in Bermuda last week after receiving all necessary approvals ... Read the full article
Bushfire losses to rise but remain manageable, says Moody’s
9th January 2020
Moody's Investors Service has warned of a dent to profits from the ongoing bushfires ravaging parts of Australia, but says that the strong fundamentals of the region's property and casualty (P&C) insurers suggests that losses will be manageable. As of January 7th, 2020 the Insurance Council of Australia (ICA) had ... Read the full article
Insured losses from Australian bushfires rise again to USD 485 million
7th January 2020
The insurance industry losses from the ongoing bushfires ravaging parts of Australia continue to rise, with the Insurance Council of Australia (ICA) now putting the total at USD 485 million (AUD 700 million). The latest figure, which is up by more than 60% on the USD 300 million (AUD 431 million) ... Read the full article
FEMA renews NFIP reinsurance program with $1.33bn of coverage
2nd January 2020
The U.S. Federal Emergency Management Agency (FEMA) has announced the renewal of its flood reinsurance program to protect the National Flood Insurance Program (NFIP), securing $1.33 billion of protection. The coverage was secured from a panel of 27 reinsurance companies, and protects the NFIP from events on a per-occurrence basis for ... Read the full article
Chaucer adds Senior Underwriters to International General Liability team
12th December 2019
Chaucer, the specialty international re/insurance group, has announced the appointments of Thomas Beasley, Senior Class Underwriter, and Rob Neil, Senior Underwriter, to its International General Liability team. In their new roles, Thomas Beasley and Rob Neil will be responsible for growing Chaucer’s International General Liability account, with a focus on building ... Read the full article
Coal exclusions double in 2019 as action spreads beyond Europe
2nd December 2019
The number of insurers withdrawing cover for coal has more than doubled in 2019 as the industry’s retreat from the sector accelerates and spreads beyond Europe, according to data from environmental campaign group Unfriend Coal. Coal exit policies have now been announced by 17 companies controlling 46% of the reinsurance market ... Read the full article
AXIS to limit thermal coal, oil sands underwriting & investments
16th October 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced a new policy which addresses the firm's underwriting of, and investments in, thermal coal and oil sands-related business. Amid ongoing global pressure to mitigate the impacts of climate risks and transition to a low-carbon economy, numerous insurers and reinsurers have taken ... Read the full article
CFC adds Avraam to Medical Malpractice underwriting team
3rd October 2019
Specialist insurer CFC has recently announced the appointment of Avraam Avraam to its Medical Malpractice underwriting team. He will serve as team leader and work alongside practice leader Sharon Brennan in order to help develop the firm’s book of non-US international business. Avraam brings over 30 years’ experience in underwriting and broking, ... Read the full article
AXIS Capital withdraws support for Australia’s Carmichael mine, sources report
3rd October 2019
Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited has dropped its bid to provide coverage for the controversial Carmichael coal mine project in Australia, according to sources at Reuters. The publication said that sources close to the company confirmed that AXIS had withdrawn its quotes for insurance of the mine’s ... Read the full article
AXA XL promotes three within its UK Client & Distribution team
16th September 2019
Global insurer and reinsurer AXA XL has promoted Allan Murley to Head of Broker Management as part of a number of changes to its UK Client and Distribution team. Murley's appointment is effective immediately and in his new role, he will be responsible for leading the UK Broker team and working ... Read the full article
Fidelis Underwriting adds marine experience to London underwriting team
3rd September 2019
Bob Clarkson has joined the London underwriting team of Fidelis Underwriting Limited, a subsidiary of Bermuda-based Fidelis Insurance Holdings Limited. His appointment comes as part of the group's strategic initiative to continue to develop its focused offering of specialty insurance solutions. Clarkson brings three decades of industry experience to the role, as ... Read the full article
Willis Towers Watson names Adam Garrard as new CRB leader
15th August 2019
Global insurance and reinsurance brokerage Willis Towers Watson (WTW) has revealed that Adam Garrard is to replace Todd Jones as leader for the Corporate Risk & Broking (CRB) segment. Garrard is currently WTW Head of International and member of the broker's Operating Committee, and he will continue to serve as acting ... Read the full article
GlobalData sees long-term benefits as re/insurers step away from coal
13th August 2019
Data and analysis firm GlobalData has said that despite losing out in the short-term, the re/insurance industry's transition away from coal is expected to result in considerable long-term benefits. In an effort to reduce climate change and support greater use of renewable energy, global insurers and reinsurers have started moving away ... Read the full article
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