Chubb

Chubb withdrew from writing transactional risk in London and all territories outside the US in 2020.

The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.

Chubb declared at the last minute that it would not contest the English court’s jurisdiction, in contrast to every other reinsurer being sued by aircraft lessors.

The newly launched offering will cover media liability, cyber, property, terrorism, casualty and legal expenses.

At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.

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.

The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.

The consortium is supported by 11 other Lloyd’s businesses.

Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.

The carrier was originally in the market for extra capacity at January 1 before pulling plans.

Edward Kopp will be succeeded in his current role as president of Chubb Korea by Janice (Jae-Kyung) Mo – the first woman to lead a general insurance business in Korea’s history.

The CEO said Chubb has ‘never seen better pricing’ on primary property.