Marsh has announced the launch of a first-of-its-kind insurance and reinsurance facility that provides dedicated insurance capacity for new and existing green and blue hydrogen energy projects. Developed by Marsh in collaboration with insurers Liberty Specialty Markets, part of Liberty Mutual Insurance Group, and AIG, the facility provides up to...
Howden has announced its agreement to acquire C.R.F. Conseils (CRF), an independent broker specialising in Financial Lines. This is Howden’s first acquisition in France since appointing Nicolas Aubert as CEO, Howden France, and will enable Howden to launch operational capabilities in this key market. Founded in 1999, CRF focuses on...
Germany’s non-life insurers continue to demonstrate their resilience to natural catastrophe events, Fitch Ratings has said following its analysis of the 10 largest insurers’ 2021 accounting data published in April–June 2022. The companies’ net combined ratios (net-of-reinsurance claims and expenses to net premiums) for 2021 were in line with our...
“Good leadership is all about standing up in the bad times and we are entering some worrying times,” Ed Butler, chief resilience officer of Pool Re, told future leaders at the Marsh McLennan Rising Professionals Global Forum held recently in London, warning: “A perfect storm is brewing for global insecurity, political violence,...
Lloyd’s has published a new report highlighting the risk of cyber-attacks which could inflict significant physical damage on national infrastructure and privately owned assets. The report focuses on the importance of effective risk management and the role of insurers in helping customers build resilience to cyber-attacks. As malicious attacks increase...
The reinsurance market’s firming trend continued, according to the latest 1st View renewals report from Gallagher Re. A combination of economic factors helped to propel the trend, despite reinsurers’ generally satisfactory H1 2022 results, according to a statement. The combination of inflation and interest rate rises are impacting reinsurers’ balance...
Descartes Underwriting has launched its Madrid office to further expand their parametric coverage to markets throughout Ibero-America. Raul Revilla joins as Commercial Director LatAm and will oversee the parametric offerings to corporates and public entities in climate-exposed markets in Mexico, Central, and South America. Juan Maria Marqués Domenech joined Descartes...
Integrating emerging risk considerations into an ongoing risk management program is necessary to avoid future surprises, achieve strategic objectives and deliver long-term value, according to the newly published RIMS Executive Report “Navigating the Complexities of Emerging Risks.” “In the face of so much uncertainty and volatility, business leaders around the...
The Association of British Insurers (ABI) has tracked the average price paid by motorists for their motor insurance in the first quarter of 2022 crashing by five percent to its lowest level in nearly seven years. The drop will have given some much-needed relief to many households facing rising energy...
Pool Re has announced the most significant reduction in its reinsurance pricing for 20 years. The reduction will come into effect from October 2022. The extent of the reduction will vary according to geographical location. Overall, reinsurance pricing will reduce by approximately 20 percent outside Zone A (central London) and...
