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The Week in 90 Seconds: Finch fraud verdict; Marine re renewals; Blueprint Two
Plus all the latest people moves and top stories of the week.
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The panel discussed issues around AI including its deployment, ethical concerns, bias minimisation, decision-making and the role of leadership.
Survey participants said "much work remains post-implementation".
The New Zealand-based carrier has also decreased the upper limit of its catastrophe programme from NZ$934mn to NZ$750mn.
The carrier is rebuilding its financial lines team following a number of staff exits from the division.
Opinion
Opinion
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Could Ardonagh become the White Mountains of broking?
Adam McNestrie
Analysis: Builders and insurers reach standoff on sustainability
At an event that brought together construction insurers, brokers, engineers and developers, delegates discussed an impasse over insuring sustainable development projects.
Most Read
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R&Q posts H1 operating loss of $58mn after legacy adverse development
29 September 2023 -
Ex-AFL owners face asset freeze, spending limits after fraud case
28 September 2023 -
IFRS 17 to cost insurance industry $21bn-$27bn: WTW
28 September 2023
Analysis
Lloyd's has set out what London market firms will need to do to transition from decades-old systems to new central services in July next year, in a crucial step of several modernisation milestones to come in 2024.
Despite a return to profitability in marine classes, the market is operating in an increasingly uncertain environment.
The worst-case scenario of a $12bn-$15bn claim looks to have been taken out, but there are lots of complex, vexed negotiations still to come.
As the curtain comes down on the millionth Monte Carlo Rendez-Vous, and the prices in the cafes and restaurants are presumably reset to their customary levels, the conference has again done its main job.
More News
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Porch Group invests $57mn in HOA as Vesttoo fallout continues
28 September 2023 -
Marine and energy treaty at 1.1: Reinsurers to hold firm
28 September 2023 -
Howden Tiger names Ronda CEO and Bredahl Capital Markets executive chair
27 September 2023 -
Former AFL owners Bob and Alec Finch found guilty of fraud
27 September 2023
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Insurance Institute of London names Munich Re’s Hoare as president
27 September 2023 -
BHSI appoints Carrer as head of casualty in Switzerland
27 September 2023 -
Hiscox set to sell DirectAsia to Ignite Thailand
27 September 2023
Interviews
Interviews
The Corporation’s chairman said Lloyd’s has “earned the right to grow” and wants to drive competitive progress on ESG goals.
The Duncan Dale-led business has reached an ‘inflection point’ where a large, aligned capital provider is advantageous, executives say.
Hurricane Idalia is a reminder of the new normal cat environment and that reinsurers must continue to ensure they do not pick up attritional losses, the company’s P&C head said.
The chairman stressed that his new start-up will focus on the liability side of the balance sheet not the asset side – in distinction to the hedge fund re model.
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From our other titles
From Inside P&C
Commercial insurance PPI/CPI trends: A closer look at property, auto and workers’ comp
With Maui wildfire investigations beginning to point the finger at Hawaii Electric, it’s possible the insurance industry will see things play out as they did with PG&E in California, but the smaller scale of local utilities suggests lower potential recovery for insurers.
From Trading Risk
The ILS offering is competitively positioned as renewal talks begin
ILS capacity in the form of retained earnings and new inflows is shaping up to meet growing demand for reinsurance and retro coverage.
From Inside P&C
Half-year stat reserve analysis: What goes up must come down
Progressive has now reported three consecutive months of adverse development. The Inside P&C Research team takes a closer look.
From Trading Risk
ILS rebound among positive supply-side trends in Monte Carlo
The supply-demand dynamics are all pointing in ILS markets’ favour, so long as hurricane season goes quietly.
