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Prices in the downstream sector continue to surge as losses pile up. -
Munich Re Innovation Syndicate will start underwriting on 1 January 2020.
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Matt Lucas joins as managing director of business development, while Dvorit Mausner will be director of execution.
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The carrier’s risk appetite in the lines is expected to be unaffected by the departure.
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Aramco does not buy standalone political violence cover, but some energy policies may have contingent business interruption losses.
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Lucy Clarke said insurers must better understand risks as energy firms move from finite to renewable sources.
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The executive becomes a permanent replacement for Paul Greensmith, who took the CEO role at the UK businesses last year.
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The Bermuda (re)insurer exits management liability, along with marine hull, power and product recall.
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Sam Bishop joins as renewable energy underwriter, reporting to head of renewable energy Warren Diogo.
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The executive, who has been with Chubb for 16 years, will join AIG as head of UK energy.
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The internal promotion comes after Steve Hawkins left the firm for Convex.
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Barnes moved to Houston earlier this year to lead the Marsh JLT integration
