Security guarantees will be critical if the insurance industry is to provide cover for the reconstruction of war-damaged regions of Ukraine, according to a Marsh McLennan-convened panel at the World Economic Forum’s annual meeting in Davos

Westfield Specialty International has bolstered its political violence (PV) and aviation war underwriting unit with a trio of hires, including Travelers’ Hector Threlfall and Marsh’s Charlie Fellows.

The announcement that the Houthis will limit their attacks on commercial shipping to Israeli vessels following the Gaza ceasefire is unlikely to have any substantial impact on Red Sea threat levels in the short term, sources said.

Africa Specialty Risks has launched what it describes as the first Africa-focused Lloyd’s consortium.

Independent specialty (re)insurance broker McGill and Partners has partnered with Lloyd's Lab participant FortuneGuard to launch a war risk reinsurance facility for commercial property assets in Ukraine.

The deadly attack in New Orleans and the Cybertruck explosion in Las Vegas are examples of incidents that can be very difficult to predict and substantial for insurers, AM Best has commented.

2024 has again been a busy year for the marine war market with Houthi activity in the Red Sea causing widespread disruption to global shipping along with a number of constructive total losses for insurers.

Bruce Carman, CUO at Hive and aviation war expert, estimates the Russia-Ukraine lessor claims could result in a $5-6bn loss for the aviation market, a striking figure that underscores the magnitude of the ongoing legal battle across multiple jurisdictions over stranded Western aircraft in Russia.

Chubb has formed a new terrorism and political violence team within its continental Europe, Middle East and North Africa (CEMENA) region, led by Becky Jarrold.

Aon and the European Bank for Reconstruction and Development have structured a new facility designed to support the revitalisation of the war risk insurance market in Ukraine.