Reinsurance News

Energy reinsurance

Verisk adds new events records to EPIX energy insurance platform

29th October 2018

Data analytics provider Verisk has enhanced its energy re/insurance platform, Energy & Power Intelligence Xchange (EPIX), with a new module that features records of events involving 10,000 energy assets around the world. The module, called EPIX Experience, will enable re/insurers to see the frequency of events such as regulatory violations, man-made ... Read the full article

Flat energy market conditions prevail through Q3: Lloyd & Partners

8th October 2018

Largely flat market conditions have  prevailed throughout the third quarter of 2018 for the energy re/insurance sector, according to a new quarterly report by Lloyd & Partners. In terms of upstream energy, loss severity and frequency remained unusually low, resulting in many insurers posting their best loss ratio percentages ever, while ... Read the full article

Alesco adds Miller’s Steve Dewey to energy division

25th September 2018

Alesco Risk Management Services, the specialist insurance and risk management broker, has appointed Miller’s Steve Dewey as Executive Partner in its energy division. Dewey will join Alesco in early 2019 after 23 years at Miller, where he held increasingly senior roles and left as Partner, responsible for the Upstream Technical team. In ... Read the full article

Ian Curtin joins Miller from Marsh as Head of Energy Construction team

18th July 2018

Insurance and reinsurance broker Miller has appointed Ian Curtin as Head of its Energy Construction team to bring expertise in oil and gas re/insurance to clients globally. Curtin has decades of experience in various areas of the energy world and joins Miller from Marsh, where he served as Global Head of ... Read the full article

Lockton appoints Jerry Ridge as Global Head of Marine & Energy Reinsurance

2nd July 2018

Insurance broker Lockton has announced the appointment of Jerry Ridge as Global Head of Marine and Energy Reinsurance. Ridge brings 37 years’ reinsurance industry experience to his new role at Lockton, which will see him manage the company’s fast-growing international Marine and Energy business group. Most recently, Ridge served as Chairman of ... Read the full article

Allianz expands climate strategy with long-term carbon reduction goals

9th May 2018

Allianz Group has significantly expanded its climate strategy with plans to immediately withdraw from re/insuring coal-based power plants and mines, and long-term goals to phase out its investments in coal-based business and re/insurance coverage of related risks by 2040. The Group also plans to support the long-term development of a low-carbon ... Read the full article

Downstream energy sector unlikely to harden in 2018: Lloyd & Partners

27th April 2018

Lloyd & Partners, an international wholesale brokerage and trading name of JLT Specialty, has outlined a number of factors that are contributing to a less significant hardening of the downstream energy sector than many re/insurers had anticipated for 2018. The three most significant factors were supply continuing to surpass demand, lack ... Read the full article

BMS expands new energy division with appointments of Divisional Directors

24th April 2018

BMS Group Limited, an independent specialist insurance and reinsurance broker, has appointed Kristina Juul and Richard Force as Divisional Directors in its energy broking division, which was launched in February 2018. Both Juul and Force will report to James Chicken, the newly appointed Managing Director of the energy division, who ... Read the full article

Downstream energy sector suffers worst loss in ten years: Willis Towers Watson

5th April 2018

In its Energy Market Review 2018, Willis Towers Watson reported that last year the downstream energy sector suffered its worst loss record for almost a decade, although it maintains the broader energy insurance market remains stable due to the abundant availability of re/insurance capital. The Downstream energy sector suffered losses of ... Read the full article

GIC Re to lead largest Indian offshore oil & gas re/insurance program

4th April 2018

GIC Re has won the bid to be the lead re/insurer for India's government backed offshore energy provider Oil and Natural Gas Corporation (ONGC). State-run reinsurer General Insurance Corp of India (GIC Re) will be able to take a 15% line on the ONGC program, which looks to re/insure upstream offshore ... Read the full article

PartnerRe to transfer Upstream Energy insurance portfolio to Ark Syndicate

8th March 2018

PartnerRe has announced a collaboration with Ark Syndicate Management Limited (ASML) that sees the reinsurer's Upstream Energy insurance portfolio transfer to ASML Syndicate NOA 3902. The new, strategic agreement relates to applicable policies incepting and written on or after January 1st, 2018, alongside renewal rights for policies renewing subsequent to that ... Read the full article

Nicola Harris named Head of Energy, EMEA, XL Catlin

6th March 2018

XL Catlin’s insurance operations has appointed Nicola Harris to Dubai-based Head of Energy, EMEA, to head up the provision and design of insurance solutions for the Energy sector across EMEA, while leading a team of underwriters based in Dubai, Paris, Amsterdam and Madrid. Huw Jones, Global Head of Energy at XL Catlin, ... Read the full article

BMS launches new energy division with senior broker hires

20th February 2018

BMS Group Limited, the insurance and reinsurance broking specialist, has launched a new energy broking division with the hires of three brokers, two of which are particularly senior and well-known figures. James Chicken and Charlie Bowring both join from Price Forbes and are set to become managing director and chairman of ... Read the full article

Berkshire Hathaway Specialty launches in Dubai with hires from AIG & AXA

12th February 2018

Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance unit of Warren Buffett's insurance and reinsurance firm, is opening a Dubai office with a number of new executive hires, as it looks to expand in the region. Berkshire Hathaway Specialty Insurance Company (BHSI) has now received its insurance license from the Dubai ... Read the full article

Alesco expands energy division with two new partners

30th January 2018

Alesco Risk Management Services (Alesco) has announced the appointment of two further partners within its growing energy division, Alison Schwab and Mark Smith. Schwab, who brings more than a decade of experience in energy casualty and a unique knowledge of the US retail market, began her new role on 22 January ... Read the full article