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Marine

Ingosstrakh considers legal action after UK sanctions

Russian insurance giant insists it operates ‘in strict compliance with all applicable legislation and follows all due compliance procedures’

Russian Federation United Kingdom

Marine MGA Amphitrite adds cargo division

London-based specialist managing general agent hire Argenta’s Scott Sykes to lead new division

London Specialty

Sanctions compliance will continue to challenge marine insurers in the year ahead

The dark fleet now comprises 12% of the global trading fleet, according to Lloyd’s List

International Specialty

Baltimore incident will push marine liability pricing up across board: Tokio Marine HCC International

Reinsurers already factoring in possibility of unfavourable outcome of owners’ bid to limit liability, chief underwriting officer argues

International London
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Energy

More holistic insurance solutions needed to support net-zero transition: Axis

Energy producers want more comprehensive and multi-line coverage options, survey finds

United States Axis Capital

Ariel Re expands Lloyd’s clean energy consortium

Increased scale will enable clean energy sector to access more capital, re/insurer says

Lloyds Energy

Fidelis Partnership opens Abu Dhabi office

MGU hires former Oneglobal senior executive Matthew Warren to lead new office

Middle East and Africa United Arab Emirates

IGI 'excited' by reinsurance opportunities: Jabsheh

Waleed Jabsheh says International General Insurance hopes to get ‘sliver’ of Lloyd’s business as new box opens for business

Bermuda Lloyds
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Aviation

Evolving drone regulation creates data opportunity for insurers

Extended drone use in the UK creates risks but also allows insurers to gather more data

United Kingdom Legal focus

Chubb to acquire Australian aviation MGA

Addition of Melbourne-based Catalyst Aviation will expand Chubb’s global aviation underwriting capabilities with local market presence

Australia Specialty

Itasca MGA appoints Gareth John as chief executive

Pine Walk Capital and Castlelake-backed managing general agent names successor to founding CEO Kostya Zolotusky

Bermuda Specialty

Gallagher predicts strong capacity in general aviation

Broker says ‘saturation’ in airlines is leading insurers to move to non-commercial aviation

International Property
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Specialty

Gallagher looks to shape ‘nascent’ carbon insurance market

The carbon credit insurance market still lacks an end-to-end solution, the broker’s head of carbon insurance, James Bosley, says

International Specialty

A cross-sector analysis of claims inflation

Claims inflation continues to challenge the insurance industry and affects various lines of business in different ways

United Kingdom Casualty

Canopius names Houghton specialty product leader

Re/insurer hires Houghton from Axa XL to oversee governance, performance and standards for the group’s specialty underwriting lines

Canopius People moves

Consilium enters credit and political risk market

Move follows UK broker’s launch of marine division in May

United Kingdom Specialty
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Political Risk & Trade

Businesses worried about 2024 election unrest

Nearly three-quarters of respondents say they fear elections will have an impact on their international operations and ability to trade, Beazley survey finds

International Beazley

Viewpoint: Black flag on the high seas

Supply chains are at increased risk of interruption by hostile actors, with Houthi attacks in the Red Sea forcing shipowners to reroute vessels

Liberty Specialty

Viewpoint: Assessing risks in a big year for African democracy

With at least 18 elections scheduled to take place this year in Africa, insurers will need to keep an eye on risk dynamics and the profiles of insured assets and policy contracts

Middle East and Africa Political Risk and Trade

Marine insurers face extra due diligence in Russia oil price cap crackdown

From February 20 pre-voyage attestations required for all tankers calling at Russia, affecting about 41% of tankers covered by Western insurers, a proxy for price cap compliance, based on January callings

International Marine
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Terrorism

Evaluating liabilities and cover for Martyn’s Law

Regardless of who wins the UK election, there will be new duties in relation to the protection of the public, which will have insurance implications

United Kingdom Casualty

Terrorists 'to make limited use of AI in near future'

Technology may help propaganda and targeting efforts, but extremists will adopt it slowly, Pool Re report finds

International Property

Evolin launches terrorism facility

New facility, which is led by Chaucer, has up to $500m limit per policy for terrorism

Europe London

Businesses worried about 2024 election unrest

Nearly three-quarters of respondents say they fear elections will have an impact on their international operations and ability to trade, Beazley survey finds

International Beazley
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