The City of London Corporation, the governing authority of London’s Square Mile financial district, has announced the launch of its inaugural Global Risk Summit for the city’s insurance market.

Amwins Global Risks, the international arm of specialty broker Amwins, has appointed Gabriel Ewing as head of its transactional risk practice in London.

Specialist Risk Group (SRG) has continued the build-out of its retail arm with the acquisition of insurance broker, R3.

New US casualty market entrants are leading to rate stabilisation in excess of $10mn, while the London market is “becoming a bit more aggressive” than domestic carriers, according to Risk Placement Services.

Zurich has named Drazen Jaksic as CEO of its UK operations, with the executive set to replace Tim Bailey, who will now take the helm of Zurich’s new global Life Protection business.

Lloyd’s latest systemic risk scenario has said the global economy could be exposed to potential losses of $13.6trn over a five-year period from the threat of a hypothetical future human pandemic.

Canopius Syndicate 4444 has leapfrogged Beazley Syndicate 2623 to become the largest syndicate at Lloyd’s for the 2025 year of account, The Insurer can reveal.

Axa XL has strengthened its aviation team with the hire of the Fidelis Partnership’s head of airlines Abi Wilkins, The Insurer understands.

European insurers have welcomed the agreement reached by the International Association of Insurance Supervisors on its insurance capital standard project.

Shares in UK motor and home insurer Direct Line Group rose over 7 percent at the open on Friday after it announced a preliminary agreement to be acquired by Aviva following an increased bid of 275 pence a share.

Changes to the UK personal injury discount rate (PIDR) should be positive for the country's non-life insurers, AM Best has said, adding that the move should ease pressure on non-life underwriting results.

Beazley will remain Lloyd’s largest insurer in 2025 despite a more than £1bn ($1.28bn) contraction in Syndicate 3623's stamp capacity for the upcoming year of account, The Insurer can reveal.

UK motor insurer Direct Line Group has agreed to merge with Aviva after its larger rival increased its bid to 275 pence a share.

London-listed Sabre Insurance saw its shares tick up modestly in trading on Thursday after the UK motor insurer unveiled new targets to investors, which includes an ambition to grow profit by around 10 percent per year in the period to 2030.

Fitch Ratings has affirmed its neutral outlook for the European insurance sector for 2025, reflecting operational and business conditions, disciplined pricing, easing inflation and moderating P&C premium rates.