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Israeli shipowners set to pay more for Red Sea war risk cover after attacks

Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week

Israel Yemen

Falvey names Ascot's Nasso as chief underwriter

US marine insurer hires Ascot senior executive Tom Nasso to oversee underwriting

United States Specialty

Pen Underwriting to write marine from box at Lloyd's

Gallagher-owned MGA plans to diversify box into 'complementary products' and other lines of international business that have Lloyd’s distribution

Lloyds London

Skuld and Japan Club announce 2024 pricing

With 11 International Group affiliates now declared and only Swedish Club still to come, this renewal round will see the lowest percentage price increases in four years

International Japan
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Lockton expands Norway team

Broker makes four senior hires to its Norwegian energy, renewables and property divisions

Norway Brokers

Global wind farm capital value reaches £1.9trn: Chaucer

Extreme weather threatens significant investments in renewable energy technology and increases need for insurance coverage, re/insurer says

International Chaucer

Chaucer names Schnorr head of marine and energy

Schnorr joins specialist re/insurer from McGill and Partners where he was most recently partner in the reinsurance team

London Chaucer

Argenta launches energy transition offering

Lloyd's carrier names Edward Davidson to lead new offering as energy transition technology underwriter

London Lloyds
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Fidelis MGU launches aviation MGA

Itasca MGA is the eighth managing general agent formed by Fidelis MGU's Pine Walk Capital incubator platform  

Bermuda Aviation

Rokstone swoops on AIG's Lanford for aviation head

Specialty MGA secures Allianz capacity for North American aviation facility

North America International

Divergence in aviation markets continues: Gallagher

Direct price hikes stall as excess-of-loss programmes expected to see mid- to high single-digit rate increases

International Specialty

Allianz strikes aviation war capacity deal with Hive

Allianz will provide capacity for aviation hull war and excess third-party aviation war liabilities

Allianz Aviation
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Geneva Association warns of ‘insurability challenge’

Geneva Association will add macro- and geoeconomic risks, and social and financial inclusion to its 2024-25 research agenda

Risk Management International

Apollo to launch specialty treaty portfolio from 1/1

Lloyd's carrier continues to expand reinsurance business with new portfolio focusing on credit, mortgage and surety lines

London Lloyds

State National to enter UK market

US programme heavyweight partners with sister business Markel International to target UK managing general agents

United Kingdom Markel

Falvey names Ascot's Nasso as chief underwriter

US marine insurer hires Ascot senior executive Tom Nasso to oversee underwriting

United States Specialty
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Political Risk & Trade

Increase in elections will drive demand for political risk insurance: Chaucer

A number of ‘particularly important’ countries from a political risk perspective go to the polls next year, including India, South Africa, the US and the UK

International Chaucer

Israel marine war risk rates set for tenfold jump

Lack of Hamas naval and mine-laying capacity means prices are unlikely to go as high as the Ukraine precedent

Middle East and Africa Specialty

Half of cities face elevated SRCC risks: Verisk

Beirut, Johannesburg and Dhaka were ranked among the highest-risk cities over the next 12 months

International Specialty

Mosaic increases political risk capacity to $30m

Bermuda-based insurer also extends its funding horizon to support critical financing schemes in developing economies.

Bermuda Specialty
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Markel International hires senior underwriter for war and terrorism team

Woodhouse joins from Howden, where he was divisional director of terrorism and political violence

London Markel

Lockton names Bannister global head of war and terrorism

Broker continues expansion of crisis management practice with hire of Aon’s executive director of North American terrorism

London Specialty

Rokstone launches $255m US and Caribbean terrorism facility

London market-backed facility is a more flexible alternative to the US government’s backstop programme, MGA says

North America Terrorism

Arch swoops on Chaucer for head of terrorism

Andrew Bauckham described as 'one of the most respected figures in the terrorism insurance market'

Arch Capital People moves
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