Reinsurance News
political risk
Pioneer adds Mark Kelsey to Political Violence underwriting team
19th September 2018
Pioneer Underwriters has expanded its Political Violence team with the appointment of Mark Kelsey as underwriter. Kelsey joins Pioneer from Advent Underwriting, where he most recently served as a terrorism and political violence underwriter. He has nine years of re/insurance industry experience, having previously worked within the Terrorism & Political Violence and ... Read the full article
Markel adds Jennifer Chang to Trade Credit and Political Risk team
6th September 2018
Markel Corporation has expanded its Trade Credit and Political Risk operations in New York with the appointment of Jennifer Chang as Underwriter and Senior Risk Analyst. Chang has nine years’ experience in the trade credit and insurance industry and has broad expertise in both commercial and risk underwriting, having most recently ... Read the full article
Canopius partners with Anvil Underwriting on credit and political risk
31st August 2018
Global specialty lines re/insurer Canopius has entered into a partnership with Anvil Underwriting Ltd, a managing general agent (MGA) specialising in credit and political risk. The partnership, which is effective from 3 September, will allow Anvil to underwrite credit insurance, contract frustration, and political risks on behalf of Canopius. The agreement will ... Read the full article
Canopius bolsters specialty unit with addition of Chubb’s Sean Redden
28th August 2018
Global specialty lines re/insurer Canopius has announced the appointment of Sean Redden as Underwriting Counsel for its specialty division, a new London-based role with a specific focus on credit and political risk. Redden, who joins from Chubb Insurance with over 15 years’ experience as a legal practitioner, will report to Canopius’ ... Read the full article
JLT Specialty hires Nigel Somerville as Head of Risk Consulting for Europe
7th August 2018
JLT Specialty, a division of global insurance and reinsurance broker JLT Group, has appointed Nigel Somerville as Head of Risk Consulting for Europe. Somerville will be tasked with driving JLT Specialty’s value proposition in risk advisory and consultancy areas across Europe, and will work closely with JLT’s global consulting leadership to ... Read the full article
Markel hires Tom Simpson as War & Terrorism Underwriter
7th August 2018
Specialist re/insurer Markel International has announced the appointment of Tom Simpson as a War and Terrorism Underwriter. Simpson has 15 years’ insurance industry experience, and most recently served as a Political Violence Underwriter at Novae, now part of Axis Capital. In his new role he will report to senior underwriter Ed Winter, ... Read the full article
Liberty Specialty expands political violence coverage
3rd August 2018
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the launch of its expanded political violence coverage that now includes a range of new risks. Now included under one policy wording are loss of attractions, denial of access, third party liability, employees liability, cyber, and bodily injury as a ... Read the full article
Guy Carpenter names Head of Credit, Bond and Political Risk Practice
25th July 2018
Guy Carpenter & Company, LLC, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, has promoted Gregory King-Underwood to Head of the Credit, Bond and Political Risk Practice of Guy Carpenter International, effective immediately. He succeeds outgoing practice leader John Orchard, who is leaving Guy Carpenter after 11 ... Read the full article
Aon and Chubb partner on new terrorism and political violence policy
10th July 2018
Re/insurance broker Aon plc has collaborated with Chubb Limited and Lloyd’s to develop a new stand-alone terrorism and political violence solution, called Platinum, which addresses the demands of an increasingly regulated market. Platinum has been designed for multinational clients looking to fulfil local regulatory requirements in all territories they operate in, ... Read the full article
Advent Underwriting launches political violence rating tool for MENA
25th June 2018
Advent Underwriting, the Lloyd’s specialty re/insurer, has launched a new online pricing and placing tool for low-ticket political violence (PV) business in the Middle East & North Africa (MENA) region. The new rating tool, called PVPlus, was developed in partnership with independent MGA CFC Underwriting, and aims to provide SMEs in ... Read the full article
Credendo increases share capital of Single Risk unit by €40mn
13th June 2018
European credit insurance group Credendo has increased the share capital of its Credendo – Single Risk subsidiary from €25 million to €65 million as it looks to capitalise on opportunities in the single-risk insurance business segment. The €40 million capital increase will allow Credendo to further explore a market with high ... Read the full article
Castel Specialty expands into political risk with new hire
21st May 2018
Castel Specialty, a division of club-style MGA formation platform Castel Underwriting Agencies, has expanded its portfolio with the launch of Castel Political Risk. The new cover will primarily relate to contract frustration and political risk, and will generally focus on business in Latin America, the Middle East, and Africa. The political risk ... Read the full article
Global political risks becoming increasingly volatile: Aon
17th April 2018
Aon has reported that global political volatility is leading to increased political violence and political risk, with the likelihood of interstate conflict, terrorism, and general political and economic disruption all increasing. Aon’s 2018 Risk Maps report found that political violence risks are rising globally due to geopolitical tensions, a weakening of ... Read the full article
Munich Re joins African energy initiative to re/insure political risks
21st March 2018
Munich Re is launching a new clean energy initiative in conjunction with the African Trade Insurance Agency (ATI) and the European Investment Bank (EIB), which will offer coverage against a range of political risks in sub-Saharan Africa, and is expected to unlock US $1.4 billion of investment. The initiative, called the ... Read the full article
Multinationals cite major concern over growing political risk: Marsh
27th February 2018
Geopolitical instability remains a top concern for multinational businesses in 2018 with events such as the North Korea missile crisis, Euroscepticism, and increased trade protectionism, driving political risk that could boost demand for credit and political risk re/insurance. Marsh's 2018 Political Risk Map found regions facing political turbulence or increased protectionist trends ... Read the full article
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