Apollo Underwriting
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The carrier is partnering with Munich Re Syndicate and Tokio Marine HCC.
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Envelop SPA 1925 was launched at the start of the year with Chris Baddeley as active underwriter, based in London.
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The company also confirmed earlier reports from this publication that Goldman Sachs would be a leading bookrunner, along with Citigroup, Jefferies and Apollo Global Securities for its ~$4bn H1 2024 IPO in New York.
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The new syndicate will write cover for African Specialty Risks’ existing lines of business, with plans to enter new markets later.
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The carrier has added aviation, cargo and terrorism to its initial hull offering.
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Sompo has begun writing aviation war for the first time, while Apollo has picked its pen back up after a pause.
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Former pricing actuary Chris Chandriotis will lead the team.
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After Apollo announced a collaboration marking the latest milestone for algorithmic underwriting-led follow capacity in the London market, Insurance Insider explores how such partnerships can proliferate.
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The collaboration will involve the algorithmic underwriting of risks with a human in the loop for decision verification and portfolio steering.
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The carrier is looking to increase its presence in the marine market segment.
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The new SPA will write cyber reinsurance initially and could progress to writing insurance.
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Artificial Labs is developing a pilot with several carriers and brokers that integrates a generative AI model, including the use of ChatGPT, into its algorithmic underwriting platform.
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Julian Cusack has stepped down from his duties as ASML chair after eight years.
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The insurer is progressing talks to establish a partnership to combine Artificial Labs’ algorithmic trading capabilities with Apollo’s underwriting expertise within Lloyd’s.
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Apollo plans to deploy meaningful lead capacity through the consortium which will be led by Syndicate 1971, as revealed by Insurance Insider.
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The facility would largely involve Lloyd’s companies but Apollo confirmed it could potentially include London company market firms on a reinsurance or sidecar basis.
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The business is being advised on the potential transactions by Howden.
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Founded in 2016, Moonrock provides coverage for larger commercial drone operations.
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Apollo said the appointment will further diversify its marine, energy and transportation division.
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The MGA plans to build up its presence within the Lloyd’s market.
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Rate growth in the construction market is beginning to stabilise after a lengthy period of hardening.
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Kate Foster brings more than 20 years' experience and joins from Beazley.
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Davies has more than 30 years of experience in financial services and has held several senior insurance industry roles over his career.
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Apollo ibott, Aioi Nissay Dowa Europe and Marsh teamed up to arrange the placement for a driverless vehicle journey in Europe, the first of its kind.
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The new group CFO will be responsible for bolstering Apollo’s growth and developing its financial strategy.
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The partnership ups Mosaic’s North American M&A liability capacity from $41mn to $50mn.
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Martin Jackson joins from the HDI Group, where he was head of aviation and space.
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The carrier said the deal would support continued growth in its “hybrid model”.
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The CEO says the appointment is a “critical element” of Apollo’s strategic expansion plan for the line of business.
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Doug Ker will work to enhance levels of profitability across the firm’s underwriting cells.
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Both new hires will work on building up Apollo’s casualty team.
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The SPA was launched in 2019 and generated a combined ratio of 88.8% last year.
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Farah Buckley has nearly 20 years of financial services experience and comes with a ‘deep understanding of M&A, risk and corporate finance’.
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The underwriter will take over as head of property treaty.
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The business has also hired Neon’s former innovation head Luke Sanders as its strategic projects head.
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The new recruit, a former senior Liberty Mutual executive, put his insurance start-up plans on ice last November.
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