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The appointment follows the decision of the Dubai MGA to restructure its energy portfolio last year.
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Severin Hegelbach is to take a new Brazil-based divisional director role.
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The Insure Our Future network is due to hold “physical and digital actions” in Japan, South Korea, the UK and the US. -
The Corporation has been repeatedly targeted by the likes of Extinction Rebellion over its involvement in fossil fuel insurance.
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Efforts to curb covers for the most carbon-heavy assets are gaining pace and the infrastructure that allows for Paris alignment on the liabilities side of the balance sheet is improving.
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Downstream uses of oil and gas pose challenges for the (re)insurance industry, he says.
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Lancashire’s upstream income was broadly stable in 2020 as the carrier registered modest rate increases.
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Wreck removal, if required, would generate a separate $50mn-$100mn claims bill for the P&I market.
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The total cost of repairs could be as much as $490mn, although the ultimate size of the claim remains unclear.
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Jones specialises in international upstream business and is experienced in offshore platforms.
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The MGA, which has capacity from Berkley Offshore and Munich Re Syndicate, is to start underwriting in June.
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The carrier aims to make its entire global operations climate neutral by 2030 and has set new investment targets.
