Munich Re cites increase in capacity at 1.7; pricing remains strongMunich Re’s senior management have reported an increase in capacity at the 1.7 renewals relative to 1 January, but remained bullish on continued strong pricing trends, according to a Citi note.
Sompo International grows Iberia footprint with Madrid launchSompo International has expanded its European footprint with a new office in Madrid, marking the P&C (re)insurer’s second location in Spain.
Ferma names Hedemark to succeed Wegener as presidentThe Federation of European Risk Management Associations has elected Charlotte Hedemark as its president, succeeding Dirk Wegener who will step down from the helm of the body in October.
Britain and EU sign financial services cooperation pact but fall short on access dealBritain and the EU have signed a long-delayed post-Brexit cooperation pact for financial services, though the agreement stops short of granting the City of London bloc-wide market access.
CCR CEO Labilloy steps down ahead of CCR Re saleThe longstanding CEO of CCR Bertrand Labilloy is to relinquish leadership of the French state-backed reinsurer but will maintain his position at the helm of open market reinsurance arm CCR Re, The Insurer understands.
Industry calls on EU to develop public-private partnership for systemic cyber risksA collaborative report from the Federation of European Risk Management Associations (Ferma) and the region’s leading carriers and brokers has called for EU leadership to help develop a public-private partnership for risks that cannot be covered by the private market alone.
Allianz Group’s Buchauer replaces Coste-Lepoutre as AGCS CFOAllianz Global Corporate & Specialty (AGCS) has named Oskar Buchauer as chief financial officer, succeeding Claire-Marie Coste-Lepoutre who will take on Buchauer’s former role as head of Allianz Group’s actuarial functions.
Scor unveils Brégier as new chairmanScor has appointed Fabrice Brégier as non-executive chairman with immediate effect following a meeting of its board of directors on 25 June.
Scor’s long serving deputy global P&C reinsurance CEO Gavazzi to retireScor veteran Umberto Gavazzi is retiring after 37 years with the reinsurer, with the French firm turning to Manuela Colombo to succeed him as its new legal representative for its Italian branch.
June European convective storm losses to reach hundreds of millions of euros: AonInsured 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.
TVBMS’ Gillett: International unit to grow “aggressively” by 2028BMS International CEO Nick Gillett is bullish on the division’s “aggressive” growth plans, estimating that by 2028 the business will have quadrupled in size, with M&A activity a key strategic element.
Marsh McLennan to establish Ukraine data platform in key step towards building vast war risk poolThe Ukrainian government has agreed to share detailed loss data with Marsh McLennan in a bid to establish an authoritative database that could be a springboard to the pioneering build of a vast war risk pool.
Resilience launches in continental Europe with ex-Chubb and Zurich hiresCyber insurtech Resilience has moved into Continental Europe with the launch of operations in Ireland, Spain, Italy, Sweden and Denmark.
Sunak confirms war risk insurance framework to enable $411bn+ Ukraine rebuildBritish Prime Minister Rishi Sunak has formally unveiled a new framework for war risk insurance, a move designed to boost confidence across the private sector and fuel the investment needed to rebuild war-torn Ukraine.
Howden continues European expansion with two Swiss acquisitionsHowden has continued its European expansion through the acquisitions of Swiss insurance brokers Argenius Risk Experts AG and RVA Versicherungsbroker AG.
MGAs – the coming waveMGAs have been reshaping the US property casualty insurance market in recent years. The rest of the world may soon follow suit.
Guy Carpenter hires Howden’s Cacia as Italy CEOGuy Carpenter has recruited Vincenzo Cacia from Howden to become the next CEO of its Italian operations.
Covéa Insurance names de Macedo CEO as Furness departsCovéa Insurance, the UK arm of French mutual Covéa, has appointed Georges de Macedo as CEO, succeeding Adrian Furness who is to leave the business.
Howden bolsters marine offering in Germany with Northern Lloyd acquisitionHowden has strengthened the marine offering of Howden Deustchland with the acquisition of Northern Lloyd, an independent marine broker based in Bremen.
Generali acquires Liberty Mutual’s Western European units in €2.3bn dealItaly’s Assicurazioni Generali is to acquire Liberty Mutual’s personal and small commercial insurance operations in Western Europe in a deal that values the business units at €2.3bn ($2.5bn).