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Marine

Hormuz/Baltimore double whammy puts ‘extreme stress’ on marine reinsurance

Underwriter concerns include aggregation exposure, multi-party liability and prolonged claims development

Marine Strait of Hormuz crisis

Insurance implications of infectious disease outbreaks at sea

Infectious disease outbreaks at sea are multi-dimensional risk events requiring coordinated legal, regulatory and insurance responses

Legal focus International

NorthStandard targets billion-dollar premium income by 2028

Last results ‘really successful’ despite ongoing underwriting deficit, argue Jennings and Grose

International United Kingdom

Navium and Overhaul launch AI infrastructure cargo consortium

Lloyd’s backed consortium is claimed to be the first of its kind to provide cover specifically for shippers of data servers

Marine Specialty
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Energy

Offshore wind, insurance and the cost of failure

Although there is clear appetite within the insurance market, capacity remains limited and constraints on insurability are inevitable for complex and rapidly developing technologies

International Specialty

Axa XL names Richème global CUO for property

Richème succeeds Juergen Cherreck who joined Axa in 2018

People moves Property

Markel and Willis launch nuclear insurance facility

London market facility provides property damage and business interruption cover across the lifecycle of nuclear projects

London Energy

Middle East crisis exposes fossil fuel folly: Guterres

Climate policymakers warn of fossil fuel crisis, while insurance survey reveals energy leaders see continuation of oil and gas

Strait of Hormuz crisis Climate change
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Aviation

Understanding aviation risk in Brazil’s agricultural sector

The seasonal concentration of losses, the variability of pilot quality, the constraints of the local repair environment and the expected emergence of autonomous platforms present challenges for the insurance market

Specialty Aviation

Howden launches US aviation practice

Julio Jimenez to lead new practice targeting airlines, aerospace companies and aviation operators

Aviation Howden

Hive launches aviation reinsurance division

London-based managing general continues product line expansion

London Specialty

Geopolitical tensions could squeeze aviation premiums

A reduction in the number of flights could have a knock-on effect on insurers, WTW warns

International Middle East and Africa
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Specialty

LMG consults on extending data standards to delegated business

The consultation on Core Date Record extension opens from June 5

Digitalisation Market Modernisation

Offshore wind, insurance and the cost of failure

Although there is clear appetite within the insurance market, capacity remains limited and constraints on insurability are inevitable for complex and rapidly developing technologies

International Specialty

The Fidelis Partnership launches PVT consortium

Lloyd's-backed consortium can deploy up to $47.5m per risk in the Middle East

Strait of Hormuz crisis Lloyds

ASR inks strategic investment partnership with Vitruvian

Private equity firm to buy the majority share in Africa-focused re/insurer held by Helios

Specialty Reinsurance
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Political Risk & Trade

Political risk ‘no longer confined to traditional hotspots’

Insurers and their clients will need to treat political risk as a permanent feature of the operating environment, warns WTW’s Sam Wilkin

International Strait of Hormuz crisis

Middle East conflict could become costliest PV loss on record

Insured political violence and terror losses arising from the conflict could reach $3bn, Howden Re estimates

Strait of Hormuz crisis Property

BPL launches reinsurance division

BPL Re will focus on credit, political risk and surety business

London Broker

Tariffs remain top political risk concern despite Middle East conflict

Many businesses found rising tariffs to be the most difficult political risk to manage, Willis survey finds

International Risk Management
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Terrorism

Middle East conflict could become costliest PV loss on record

Insured political violence and terror losses arising from the conflict could reach $3bn, Howden Re estimates

Strait of Hormuz crisis Property

War overtakes civil unrest as biggest political violence threat

Political violence and terrorism claims arising from Iran conflict could be higher than from the war in Ukraine, Allianz warns

International Property

Middle East tensions raise aggregation risks for terrorism insurers

Prolonged conflict could lead to stricter underwriting conditions and reduced capacity, particularly for risks linked to critical infrastructure and high-profile locations, analysts warn

Strait of Hormuz crisis International

Pool Re announces £2.75bn retrocession package

Pool Re hails record number of private reinsurance backers

United Kingdom Property
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