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Energy reinsurance

Marine underwriters face growing challenges: IUMI

13th April 2017

The International Union of Marine Insurance (IUMI) said marine insurers last year faced growing challenges as energy claims rose against a reducing premium base and cargo accumulation risk and the frequency of major vessel casualties continued to increase. Donald Harrell, Chairman of IUMI’s Facts & Figures committee, commented that marine risks continue ... Read the full article

Energy market continuing to soften: Willis

12th April 2017

The energy insurance and reinsurance market is continuing to soften, as the effects of high competition levels and excess re/insurance capacity are felt acutely in the sector, according to Willis Towers Watson (WTW). WTW's latest report on the energy market suggests that the challenges the sector is beset by ... Read the full article

PCS launches Global Marine & Energy loss data services

5th April 2017

Property Claims Services, a Verisk Analytics business, has for the first time ventured away from the property-catastrophe sector as it kicks-off its Global Marine and Energy loss aggregation solution services. The PCS Global Marine and Energy risk model index is set to provide industry loss estimates for ocean marine and offshore energy events ... Read the full article

Energy re/insurance market near a pricing cliff edge: JLT

4th April 2017

The energy insurance and reinsurance market continues to see prices decline, despite demand having dropped significantly as primary clients cut their costs and many underwriters operating at combined rations above 100%, according to broker JLT Group's Lloyd & Partners unit. The offshore and onshore energy insurance market has been beset with ... Read the full article

Ed brokers re/insurance for Iranian gas field projects

20th February 2017

Ed Broking, the London and global insurance and reinsurance brokerage, has completed the first arrangements in Iran that will see London market re/insurance capacity backing energy industry projects in the country since sanctions were in place. Since sanctions were eased in January it has now become possible for London market re/insurers ... Read the full article

Ironshore marshalling new capacity for energy middle-market risks

13th February 2017

Ironshore’s Specialty Casualty arm has expanded its energy coverage capacity with a new oil and gas facility, Ironshore Energy Solutions, to deliver capacity for U.S. on-shore middle market energy liability risks. The facility will provide capital to underwrite middle market sector risk on behalf of six consortium insurance companies and has put ... Read the full article

Sawyer named Head of Property at AEGIS London

9th January 2017

AEGIS London, the UK-based subsidiary of mutual energy insurance and reinsurance company AEGIS (Associated Electric & Gas Insurance Services Limited), has announced the appointment of Toby Sawyer as Head of Property. Sawyer takes over the Head of Property role at AEGIS London from Alex Powell who will remain Active Underwriter at ... Read the full article

Energy reinsurance cedents continue to improve renewals: JLT

5th January 2017

Ceding insurers in the energy insurance market have continued to make advances in improving their reinsurance program coverage at the recent January 2017 renewals, as the market remained one favoring buyers. "Chronic overcapacity" continues to affect the energy insurance and reinsurance market, according to the latest update from Lloyd & Partners, ... Read the full article

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