July 2016/1

The UK's vote to leave the EU has prompted insurance CEOs to voice concerns over passporting business and attracting top talent

TMK hires Amphlett; ArgoGlobal appoints cargo underwriter; Gable suspends shares; MSI's ILS hopes; Nexus moves into marine; XL Catlin hires Asia marine hull leader; Probitas expands casualty team; BP Marsh exits Hyperion stake

AM Best's 1 July decision to assign Sirius's new Bermuda-based company a negative outlook on its A financial strength rating has highlighted anxiety over the impact of Chinese acquisitions on carriers' credit profiles.

The volume of legacy noise-induced hearing loss (NIHL) claims is expected to continue to decline as an anticipated glut of 20,000-25,000 cases looks less likely to materialise, according to law firm Weightmans.

Brian Bissett has resigned as chief data officer of XL Catlin to join Zurich, The Insurance Insider can reveal.

US mutual fund manager and major sidecar investor Stone Ridge Asset Management posted a 7 percent expansion to the net asset base of its three reinsurance funds in the first part of 2016 to reach $4.76bn.

Marsh Finpro has received widespread support from London management liability writers for its latest facility in a clear demonstration of the continuing dominance of broker-led offerings, sister title Inside FAC revealed earlier this month.

Underwriters have warned the rise in blockchain-based companies poses significant coverage challenges, as shown by the heist of $53mn of "ether" cryptocurrency from an investment fund in June.

The introduction of a series of premium taxes levied on the marine industry could hit fixed-premium underwriters and mutuals as shipowners battle against the charges.

The International Underwriting Association (IUA) has elected six London market executives to its board, the organisation announced on 5 July.

Colorado State University (CSU) updated its 2016 hurricane season forecast on 1 July to include one extra named storm, bringing the total number predicted to 15, as it said the transition away from an El Niño weather pattern continued.

Lloyd's managing agent Apollo has hired well-regarded marine underwriter Iain Henstridge as it looks to build out a hull book, The Insurance Insider understands.