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IGI went public on the Nasdaq last year through a merger with a SPAC, amid a boom in blank cheque activity.
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Marco’s launch marks the latest RITC syndicate to set up at Lloyd’s, following Compre’s move to establish a vehicle under an Apollo turnkey at the beginning of the year. -
Marsh has bolstered its upstream energy division with the appointment of Thomas Burrows from Convex, Insurance Insider has learned.
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In an internal memo, the company named a raft of leaders by country and business unit, though many roles also remain unfilled.
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The carrier follows the news that Canopius had pulled US wind exposure from its delegated authority portfolio.
Opinion
15 October 2021
Sources said that the incident near Huntington Beach had the potential to exhaust the $1bn oil pollution reinsurance tower.
Analysis
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Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors.
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Increased disclosures being released by companies heighten the risk of inaccurate or misleading statements.
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Claims from recalls due to lithium-ion batteries, which are heavily linked to the sustainable auto industry, are causing a capacity squeeze and affecting rates on certain policy lines.
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Reinsurance market tightening and loss ratio deterioration are two factors fueling momentum in cyber rates.
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Ongoing high claims from risks such as winter storm, wildfire or convective storm are playing into the climate-change debate over whether and to what extent cat reinsurers are mispricing their business.
From Inside P&C
Argo: Don't eat the marshmallow
Activist investor Ron Bobman is pushing for quick turnaround and a potential quasi-fire sale of Argo, missing out on the firm's greater potential.
From Insider Engage
The Climate Crisis Hits 'Code Red': Three Urgent Actions for Insurers
Memo to P&C insurers: If you think the pandemic has been painful, just wait until you see the impact of climate change outlined in a UN report that's been characterized as "code red for humanity.”
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