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A roundup of all the news you need today, including Somers Re’s deal to acquire Lime managing agency.
In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.
The airlines, healthcare and financial services industries were some of the sectors affected by the outage.
Alongside the appointment, Adam Garrard will take on the new role of chairman of risk and broking.
Behind the Headlines

Behind the Headlines: Aegis London's Alex Powell on underwriting over the cycle; and Japanese broking update

Listen in as Aegis London CEO Alex Powell discusses how to underwrite profitably through the cycle, the carrier’s growth in the cyber market, and the company’s future strategy.

Behind the Headlines is a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.

Get the inside scoop on the major stories shaping the London market through discussions with the journalists who broke them. Plus, hear from industry professionals on what these developments mean for the (re)insurance sector.

Every other Friday morning, Behind the Headlines will break down the biggest stories of the last two weeks. Sam will discuss these stories with the journalists who broke them: Catrin Shi, Fiona Robertson, Rachel Dalton and the rest of Insurance Insider's award-winning editorial team.

Plus, he will interview the big names from the London market, getting their perspectives on the state of the industry and the latest headlines.


The Microsoft/ CrowdStrike outages: What we know so far

Market sources suggest that this will be a manageable loss, although at this early stage there are multiple uncertainties.
Resulting lowered expenses could feed into Lloyd’s ambitions of building a £100bn premium market.
Regulators are mulling reforms that could open the door to international independent brokers.
With Hiscox’s founders no longer at the helm, deal-making may be more achievable.
Two-thirds of insurance firms have been challenged about their resilience plans by the regulator.
More News
The executive said that with a single platform and capital base, the company had few distractions.
The executive said that more sophisticated use of data could optimise a portfolio.
The Oxbow report found that AI use cases span the entire (re)insurance capability model.
InsurX has grown its capacity beyond £100mn after adding D&F to its existing contingency business.

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Honours 2024

Insurance Insider Honours 2024

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Executive Business Club *Invite only*

Venue: Harvard Club, New York

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Insurance Insider US Honors 2024

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ILS Connect 2024

Venue: etc.venues, Lexington Avenue, New York

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London Market Conference 2024

Venue: Convene 22 Bishopsgate, London

Further information coming soon...

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Upcoming industry events

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Monte Carlo Rendez-Vous de Septembre 2024

Venue: Fairmont, Monte Carlo

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WSIA Annual Marketplace 2024

Venue: Manchester Grand Hyatt San Diego Marriott Marquis


DiveIn Festival 2024

A Sustainable Future: The Next 10 Years

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Target Markets Annual Summit 2024

Venue: Westin Kierland Resort, Scottsdale, AZ

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Baden-Baden Reinsurance Meeting 2024

Venue: Baden-Baden city

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APCIA Annual Meeting 2024

Venue: Sheraton Grand Chicago Riverwalk, Chicago, Illinois

From our other titles

From our other titles

From Insurance Insider US

Half-year review: The calm before the (reserving + hurricane) storm

MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
From Insurance Insider ILS

Elementum’s DeCaro: Steady cat bond growth the base-case assumption

The latest Insider ILS Outstanding Contributor for the year said 2011 was an under-appreciated turning point for the market.
From Insurance Insider US

Brokers buck industry capital issuance trends amid growth opportunities

The industry is mostly reluctant to raise capital with high interest rates, except for brokers.
From Insurance Insider ILS

ILS capital ‘drawing back’ a little in mid-year renewals: Gallagher Re

The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.