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Lloyd’s plans 11% 2024 premium growth to £60bn with casualty under scrutiny
Political violence and terrorism will also be a focus class for the Corporation, amidst geopolitical turmoil.
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Current marine head Laurence Humberstone is set to retire after 19 years at the carrier.
Sompo has begun writing aviation war for the first time, while Apollo has picked its pen back up after a pause.
Insurance Insider understands David Walsh told employees in a memo that “certain culture failings” were identified in an investigation which had gone on “for some time”.
Profits are expected to widen thanks to improved rates and higher average attachment points.
Opinion
Greenwashing fears stimulate demand for carbon credit insurance
With US third-quarter reporting season being well underway, the results so far highlight further runway for the hard property E&S market.
Most Read
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CFC’s Walsh and Newman to exit following Lloyd’s misconduct probe
29 November 2023 -
Apollo and Sompo International enter aviation war market
29 November 2023 -
Opinion: Tysers' $47mn fine shows broking is not a risk-free game
29 November 2023
Analysis
Growth opportunities at Lloyd’s no longer limited to top underwriting performers, Insurance Insider’s survey shows.
Growth slows from last year’s 20%, while QBE and TMK close the gap on Brit and Beazley.
The $10bn broking firm is progressing in its pivot towards specialty and international business, and an asset management model.
Rates are said to be doubling across the board as losses for 2023 top $1bn, resulting in a loss ratio of around 150%.
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WTW strengthens in contingency with Guy Carp’s Anscombe and Corrigan
29 November 2023 -
Tokio Marine HCC takes Scor power chief Hannay
29 November 2023 -
InsurTechs band together to launch industry group
29 November 2023
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Finance and insurance sectors most exposed to AI: UK gov
29 November 2023 -
Gallagher Re elevates Hansen to COO as Brook departs
28 November 2023 -
Coalition adds Allianz’ Bäte to board of directors
28 November 2023 -
Markel’s State National to enter UK market in 2024
28 November 2023 -
Gulf between mental-health services provision and uptake: survey
28 November 2023
Interviews
Interviews
The positive results in Q3 are starting to form a “track record” of improvement as the carrier moves away from “a place of underperformance”, the executive told this publication.
After moving into the rank of fifth-largest reinsurer, following its acquisition of Validus, RenRe said it would continue to take a leading role in the regional cat space and expected to be more able to trade through market cycles.
Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
Aon’s three-year plan will allow the firm to go “further faster” in serving clients with increasingly complicated needs, as well as creating additional operating leverage that will create the opportunity for Aon to deploy capital more broadly, CEO Greg Case told this publication.
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