Ark

Ark sails on with Lloyd’s mid-year 10% pre-emption approval

2021-06-16T07:33:00+01:00

The expansive Lloyd’s managing agency Ark Syndicates Management Ltd has received the greenlight to increase its top line by a further ten percent following a recent market review by Lloyd’s into syndicates’ mid-year expansion requests, The Insurer can reveal.

X-Press Pearl fire

Sri Lanka govt files initial $40mn claim over X-Press Pearl fire

2021-06-16T07:20:00+01:00

The government of Sri Lanka has sent an interim claim to the operator of the container ship X-Press Pearl, requesting $40mn for response costs.

Jonathan (Jonty) Davies – Lockton Re

Lockton Re confirms Aon’s Davies as Bermuda CEO

2021-06-16T06:35:00+01:00

Expansive reinsurance intermediary Lockton Re has confirmed the hire of Aon’s Jonathan ‘Jonty’ Davies as CEO of its recently launched Bermuda office, Lockton Re (Bermuda) Limited, a move first reported by this publication last year.

Coronavirus

COMMENT: Slow UK Covid claims response risks further reputation damage for industry

2021-06-16T07:26:00+01:00

January’s Supreme Court judgment on the Financial Conduct Authority’s Covid-19 business interruption test case delivered a clear message to insurers – to pay valid claims in full as soon as possible to support their customers during the pandemic.

Jose Manuel Gonzalez, Luigi Sturani and Enrico Nanni – Howden

Howden confirms European leadership roles for Aon duo Sturani and Nanni

2021-06-16T08:10:00+01:00

Howden has confirmed the hire of former Aon duo Luigi Sturani and Enrico Nanni as CEO and chief commercial officer for Europe, as the broker looks to consolidate its European platform.

X-Press Pearl fire

Sri Lanka govt files initial $40mn claim over X-Press Pearl fire

2021-06-16T07:20:00+01:00

The government of Sri Lanka has sent an interim claim to the operator of the container ship X-Press Pearl, requesting $40mn for response costs.

Jonathan (Jonty) Davies – Lockton Re

Lockton Re confirms Aon’s Davies as Bermuda CEO

2021-06-16T06:35:00+01:00

Expansive reinsurance intermediary Lockton Re has confirmed the hire of Aon’s Jonathan ‘Jonty’ Davies as CEO of its recently launched Bermuda office, Lockton Re (Bermuda) Limited, a move first reported by this publication last year.

Coronavirus

COMMENT: Slow UK Covid claims response risks further reputation damage for industry

2021-06-16T07:26:00+01:00

January’s Supreme Court judgment on the Financial Conduct Authority’s Covid-19 business interruption test case delivered a clear message to insurers – to pay valid claims in full as soon as possible to support their customers during the pandemic.

Jose Manuel Gonzalez, Luigi Sturani and Enrico Nanni – Howden

Howden confirms European leadership roles for Aon duo Sturani and Nanni

2021-06-16T08:10:00+01:00

Howden has confirmed the hire of former Aon duo Luigi Sturani and Enrico Nanni as CEO and chief commercial officer for Europe, as the broker looks to consolidate its European platform.

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Guy Carpenter

ANALYSIS: Cat reinsurers’ six C-19 loss objections as BI stalemate continues

As reinsurers continue to stall on billions of dollars of Covid-19 BI losses aggregating on their cat XL treaties, they are relying on six distinct objections, a wide-ranging report has concluded.

Califronia

Cali working group unveils recommendations to help tackle climate risk

California’s Climate Insurance Working Group (CIWG) has made a raft of recommendations on how the Golden State can better manage the threat posed by perils such as wildfire, flood, mudflows and rising sea levels in a newly published draft report.

Citizens Nephila Florida

ILS funds wrote half of Citizens’ traditional placement

Although Nephila’s $600.8mn participation across Florida Citizens’ $1.649bn traditional reinsurance dwarfed that of all other markets writing the 1 June cover, significant lines from DE Shaw Re and LGT Capital meant that ILS funds accounted for more than 50 percent of the total.

Guy Carpenter

ANALYSIS: Cat reinsurers’ six C-19 loss objections as BI stalemate continues

As reinsurers continue to stall on billions of dollars of Covid-19 BI losses aggregating on their cat XL treaties, they are relying on six distinct objections, a wide-ranging report has concluded.

Califronia

Cali working group unveils recommendations to help tackle climate risk

California’s Climate Insurance Working Group (CIWG) has made a raft of recommendations on how the Golden State can better manage the threat posed by perils such as wildfire, flood, mudflows and rising sea levels in a newly published draft report.

Citizens Nephila Florida

ILS funds wrote half of Citizens’ traditional placement

Although Nephila’s $600.8mn participation across Florida Citizens’ $1.649bn traditional reinsurance dwarfed that of all other markets writing the 1 June cover, significant lines from DE Shaw Re and LGT Capital meant that ILS funds accounted for more than 50 percent of the total.

Willis Re and Gallagher Re

What’s in a name?

With any M&A deal, one of the first questions often asked after a combination is announced is “what are they going to call it?”

Scor Covea

A good deal for Covéa, a great deal for Scor

Denis Kessler’s 19-year reign at the helm of Scor has seen a major turnaround in the fortunes of the Paris-based group, which has grown to become the world’s fourth largest reinsurer.

Patrick Tiernan Burkhard Keese

Lloyd’s likely to remain on familiar course as it unveils 2022 planning objectives

“Logical, realistic and achievable” has been Lloyd’s mantra through recent business planning processes and the Corporation is unlikely to deviate far from this approach as it outlines its priorities and objectives for the 2022 planning process today.

Willis Re and Gallagher Re

What’s in a name?

With any M&A deal, one of the first questions often asked after a combination is announced is “what are they going to call it?”

Scor Covea

A good deal for Covéa, a great deal for Scor

Denis Kessler’s 19-year reign at the helm of Scor has seen a major turnaround in the fortunes of the Paris-based group, which has grown to become the world’s fourth largest reinsurer.

Patrick Tiernan Burkhard Keese

Lloyd’s likely to remain on familiar course as it unveils 2022 planning objectives

“Logical, realistic and achievable” has been Lloyd’s mantra through recent business planning processes and the Corporation is unlikely to deviate far from this approach as it outlines its priorities and objectives for the 2022 planning process today.