Specialty
US launches $20bn reinsurance facility for Gulf shipping
Development Finance Corporation to offer US state-backed coverage in hopes of restarting shipping through Strait of Hormuz, but details remain unclear
Military escort through the Strait of Hormuz unrealistic: Herminius
The vessels that would realistically be used to escort commercial vessels are currently being used to defend the US’s carrier fleet
Britannia sees growth in entered tonnage
Percentage increase in line with world fleet but combined ratio may still be higher than ideal
P&I clubs make Middle East war risk buyback deadline, but pricing not cheap
Smaller vessels face paying more per week than they previously did in a year
Beazley acquires renewable energy MGA kWh Analytics
Acquisition aims to improve Beazley’s modelling and underwriting capabilities for global energy transition
Oka partners with 1089 to back insured carbon asset
New framework embeds invalidation risk cover into advanced fuels credits in bid to strengthen carbon market structure
Battle lines drawn for critical minerals
Competition for critical minerals is heating up between the developers of data centres and the producers of clean energy
Pre-disaster insurance market is growing: Napiorkowski
‘We can boost climate finance by spreading the word about technology performance insurance,’ Ariel Green managing director Jan Napiorkowski says
Cyber and casualty are concerns in the soft market: Axa XL’s Guénot
The insurer’s head of Southern Europe, Julien Guénot, worries about cyber risk volatility and loss deterioration in casualty lines
Aviation safety is a product of the many and not the few
The sustained reduction in aviation fatalities is the result of continuous effort by countless individuals and organisations
LSM names Louth head of aviation
Louth joins insurer from Willis where he was head of broking for global aviation and space
Willis re-enters light and recreational aviation sector
Broker returns to the market for the first time in 30 years following arrival of Crispin Speers team
Digital infrastructure will expand insurance horizons: Marsh
AI data centres are creating a ‘velocity of risk’ unforeseen in any other re/insurance vertical, Mike Mathews, global digital infrastructure practice leader at Marsh, says
Beazley acquires renewable energy MGA kWh Analytics
Acquisition aims to improve Beazley’s modelling and underwriting capabilities for global energy transition
Syndication is key to unlocking the casualty market: Scor’s McDonald
Scor Business Solutions is targeting growth in European casualty business this year, the unit’s chief executive says
US launches $20bn reinsurance facility for Gulf shipping
Development Finance Corporation to offer US state-backed coverage in hopes of restarting shipping through Strait of Hormuz, but details remain unclear
LMA pledges to work with US on political risk insurance for shippers
JWC secretary expresses doubt about US effort
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
Canopius appoints Kimber credit and political risk underwriter
Kimber joins from Swiss Re, where he led the sovereign credit and political risk insurance team across Europe, Middle East and Africa
Interpreting political risk and political violence coverage
The judgement in Hamilton Corporate Member and others v Afghan Global Insurance provides a pragmatic interpretative framework for differentiating political risk from political violence in the context of English insurance law
Pool Re announces £2.75bn retrocession package
Pool Re hails record number of private reinsurance backers
Iran conflict widens political violence exposure across the Middle East
Escalation between the US, Israel and Iran is transforming political violence risk from a contained threat into a multi-jurisdictional accumulation challenge for insurers
Joint war committee revises listed areas following Iran strikes
The JWC confirmed that Bahrain, Djibouti, Kuwait, Oman and Qatar have been added to the listed areas for hull war, piracy, terrorism and related perils
UK civil unrest could trigger losses exceeding £4bn
Policing incidents, overseas conflicts and financial shocks could spark disorder capable of causing unprecedented insured losses, according to modelling firm Synthetik
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