Space market faces $250mn Chinasat loss
The beleaguered space market is facing a possible $250mn loss as a result of post-launch problems with a China Satcom (Chinasat) satellite, The Insurer can reveal.
BGCI continues aviation build out with three more hires
BGC Insurance (BGCI) has continued to build out its ambitious aviation and aerospace broking start-up with three more hires from MMC, The Insurer can reveal.
Marsh makes appointments to energy and power leadership team in North America
Marsh has appointed fresh leadership to its US and Canada energy and power business with Amy Barnes promoted to lead the US and Canada region and Brad Vescarelli to lead Canada.
Cobbs Allen names new specialty broking unit, reveals more JLT hires
Cobbs Allen has announced its new specialty insurance brokerage and investment banking platform is called CAC Specialty, along with a slew of new hires from McGriff Seibels & Williams and JLT Specialty USA.
Intact buys specialty insurer and MGU from Princeton Holdings for C$1bn
Intact Financial has agreed to pay C$1bn ($750mn) to acquire Canadian specialty lines insurer The Guarantee Company of North America and managing general agent Frank Cowan from Princeton Holdings.
Marriott has recovered $93mn of cyber insurance so far
Marriott International, which suffered a large data breach last November, has revealed in a 10-Q filing that it had recovered $93mn from its cyber insurance policy as of the end of June and had renewed its insurance at higher cost.
Marsh makes appointments to energy and power leadership team in North America
Marsh has appointed fresh leadership to its US and Canada energy and power business with Amy Barnes promoted to lead the US and Canada region and Brad Vescarelli to lead Canada.
Swiss Re Corporate Solutions stops writing cargo as marine retrenchment gets underway
Swiss Re Corporate Solutions (SRCS) has stopped accepting cargo business, following this publication revealing the carrier planned to withdraw from writing the class on 1 August.
Activists urge 27 CEOs to withdraw insurance from Trans Mountain Pipeline
A coalition of 32 environmental, indigenous and citizen groups has targeted the CEOs of 27 insurers in the latest attempt to cancel policies covering the Canadian Trans Mountain Pipeline oil project, ahead of its 31 August renewal date.
Marriott has recovered $93mn of cyber insurance so far
Marriott International, which suffered a large data breach last November, has revealed in a 10-Q filing that it had recovered $93mn from its cyber insurance policy as of the end of June and had renewed its insurance at higher cost.
Arch sues to avoid paying USC molestation claims
Arch Specialty Insurance is seeking a declaration that its excess policies issued to the University of Southern California (USC) exclude cover for the alleged sexual abuse of hundreds of students by a gynaecologist that worked in the campus clinic.
NFP hires another former JLT exec for financial institutions group
Expansive private equity-backed broker NFP has added another former JLT Specialty USA executive to its ranks with the hire of financial institutions specialist Natasha Kiemnec.