Editorial Team

Perils discloses initial €377mn insured loss estimate for Emilia-Romagna floods

Loss aggregator Perils has disclosed an initial loss estimate of €377mn ($410mn) for the floods that struck the Emilia-Romagna region of Italy in May.

Guy Carp completes acquisition of Israeli reinsurance broker Re Solutions

Guy Carpenter has completed its acquisition of independent Israel-based reinsurance broker Re Solutions.

TMK continues marine expansion with Partridge hire

Tokio Marine Kiln has continued its marine expansion with the appointment of Rob Partridge as a cargo underwriter.

Axa aims to reduce operational emissions through Ignis renewable energy agreement

Axa has signed a 10-year virtual power purchase agreement with Ignis, a Spanish renewable energy group, as part of the insurer’s drive to lower its operational carbon emissions.

June European convective storm losses to reach hundreds of millions of euros: Aon

Insured losses from the June convective storms that struck much of continental Europe are expected to cost insurers hundreds of millions of euros, according to Aon.

Miller’s casualty team joins Whitespace platform

Miller has agreed to join the Verisk-owned electronic trading platform Whitespace, with its casualty team having used the platform since 1 June 2023.

Gallagher’s Bear: UK D&O market on knife edge as downward pricing trend continues

Increasing economic uncertainty alongside a downward pricing trend driven by rising competition has left the UK D&O market “on a knife edge”, according to Gallagher Specialty’s Steve Bear.

Guy Carpenter hires Gallagher Re’s Seigle to target cyber retro market

Guy Carpenter has said it will be looking to grow in the cyber retro market following the addition of Grace Seigle as a cyber broker based in New York.

Guy Carpenter cyber build-out continues with McCabe named broking MD

Guy Carpenter has expanded its cyber division with a number of appointments including Matthew McCabe as managing director of cyber broking.

Marsh McLennan’s Erkan resigns to become governor of Türkiye’s central bank

Hafize Gaye Erkan has stepped down as a member of Marsh McLennan’s board of directors to take up the role of governor of Türkiye’s central bank.

PartnerRe promotes Jarrier to group CUO

Covéa-owned pure-play reinsurer PartnerRe has promoted industry veteran Sylvain Jarrier to its group chief underwriting officer.

MS Reinsurance names Amelio its head of US casualty

MS Reinsurance, the reinsurance arm of MS&AD, has promoted Maria Amelio to head of US casualty.

Aon unveils Pricing Platform launch

Aon has launched its Pricing Platform, a software solution aimed to facilitate better risk selection and meaningful analytics to drive company performance.

Moody’s: Cyber insurance sees profitability boost but protection gap remains

A more manageable loss environment has significantly increased the cyber market’s profitability but a protection gap remains as insurers fail to meet demand for cover, according to Moody’s vice president Michael Dion.

Hiscox FY2022 CR improves to 88.7% under IFRS 17 restatement

Hiscox has this morning published restated 2022 figures on an IFRS17 basis, with FY22 profit before tax increasing from $44.7mn to $275.6mn as a result of the accounting change.

Allianz appoints Raffard as personal lines MD

Allianz Holdings has appointed Serge Raffard as managing director of its personal lines business.

Howden’s Aston Lark continues HNW build-out with Seatter hire

Howden’s Aston Lark has continued its high net worth (HNW) build-out with the appointment of Vizion’s George Seatter as a client director within its private client division.

Ardonagh completes acquisition of Dutch broker Klap

Ardonagh Group has completed its acquisition of specialist commercial lines insurance broker Klap Verzekeringsmakelaar.

VIG completes acquisition of Aegon’s central and eastern European units

Dutch insurer Aegon has completed the divestment of its insurance, pension and asset management business in central and eastern Europe to Vienna Insurance Group (VIG).