MGA Crescent Specialty awaits approval to begin underwriting oil, gas and marine book
Marine and energy MGA and wholesaler Crescent Specialty has secured capacity and reinsurance support and is now awaiting regulatory approval to begin underwriting, with the start-up’s management targeting opportunities created by the growing reticence among publicly traded carriers to write oil and gas insurance.
ASR grows energy capacity to $38mn with GIC Re and Peak Re backing
Africa Specialty Risks (ASR) has upped its energy division’s capacity to $38mn, with the increase provided through the pan-African MGA’s ongoing relationship with GIC Re and Peak Re.
Hub launches non-profit specialty practice led by industry veteran Konrad
Hub International has launched its 10th specialty practice in the past five years with the formation of a new non-profits focused platform led by the broker’s long serving Scott Konrad.
CAC further strengthens natural resources team with Biggins hire
CAC Specialty has made another addition to its fast-growing natural resources practice with Jim Biggins the latest to join the platform.
Munich Re: Market needs cyber war exclusions to be “future proofed”
The cyber market needs to implement “robust” exclusions to tackle systemic risks with Munich Re keen for solutions to emulate Lloyd’s Market Association (LMA) clauses aimed at clarifying whether cyber war is covered.
Gard FY GWP tops $1bn for first time
Marine insurer and P&I club Gard has posted a strong set of full-year results with record gross written premiums of $1.36bn, while its combined ratio improved 10 percentage points to 94 percent.
MGA Crescent Specialty awaits approval to begin underwriting oil, gas and marine book
Marine and energy MGA and wholesaler Crescent Specialty has secured capacity and reinsurance support and is now awaiting regulatory approval to begin underwriting, with the start-up’s management targeting opportunities created by the growing reticence among publicly traded carriers to write oil and gas insurance.
ASR grows energy capacity to $38mn with GIC Re and Peak Re backing
Africa Specialty Risks (ASR) has upped its energy division’s capacity to $38mn, with the increase provided through the pan-African MGA’s ongoing relationship with GIC Re and Peak Re.
CAC further strengthens natural resources team with Biggins hire
CAC Specialty has made another addition to its fast-growing natural resources practice with Jim Biggins the latest to join the platform.
Allied World PL/cyber QS firm orders with 2pt bump to 34.5% cede
Allied World’s $1.8bn premium financial and professional lines quota share treaty has firm ordered at a 34.5 percent ceding commission, a 2 point increase from the prior year, although it is currently unclear if the planned cession will be filled out, The Insurer can reveal.
Miller looks to WTW and Besso for professional risk build-out
Miller has named Adam Power as account executive in its international professional risks team, with Rebecca Harvey taking up the same role in the broker’s North American professional risks team.
Fitch: “Surprising improvement” in cyber direct loss ratio last year
The standalone US cyber market improved its direct loss ratio last year with earned premium growth exceeding the change in incurred losses on the back of large rate increases, according to an analysis from Fitch Ratings.