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The hire follows the departure of David Martin to GIC Re Syndicate. -
The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
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The Ryan Specialty renewables MGA launched an international arm last year.
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The underwriter has worked for Markel in Singapore since 2020.
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Jo Smart has worked for Torus and Aegis during his two decades in the market.
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High capacity is adding to competition in the upstream energy space.
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New sources of capacity lack the expertise to service rapidly developing clients.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Small modular reactors are increasingly viewed as a means of meeting surging energy demand.
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The London broker has also recently hired Michael Lohan from Lockton.
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Dale Underwriting recently pulled out of standalone offshore energy business.
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Plus, the latest people moves and all the top news of the week.
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This publication revealed in February the incident was expected to lead to a major claim.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Rönesans covers lines including aviation, energy, engineering and liability.
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The carrier said the decision reflected its commitment to portfolio discipline.
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The LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
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Donna Swillman is currently a senior underwriter at Axa XL.
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The underwriter has over 20 years' experience in the construction insurance sector.
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The carrier is looking to take a lead position in energy-transition risks.
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The broker has a longstanding trading relationship with US retailer Alliant.
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A notable uptick in attendance underpins the value still placed on the iconic trading centre.
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There has already been an influx of new capacity from MGAs into the power market.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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Sources said MarshBerry is advising the underwriter.
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Tokio Marine GX was launched in May to offer coverage for companies looking to decarbonise.
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The carrier has appointed Roberts Proskovics as renewable energy risk management head.
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The latest hires follow Rob Hale’s move to Willis.
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The broker made several senior energy hires from Marsh last year.
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The executive has spent 13 years in the broker’s marine division.
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Plus, the latest people moves and all the top news of the week.
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The MGA will write natural resources professional liability business.
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Renewable energy premium written in London and international markets amounts to $2bn.
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Sources said the downstream energy market is unlikely to turn a profit in 2025.
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Plus the latest people moves and all the top news of the week.
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Clients are increasingly using captives because of uncertainty around long-term capacity commitments.
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The carrier has entered several new classes recently, including specie and reinsurance.
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The claim hits the downstream market following a loss-hit start to the year.
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It is the second deliverable of the FIT Transition Plan Project.
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The aerospace, energy and marine markets all sustained multiple significant losses in H1.
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Although US pricing is improving there is pressure in other geographies.
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The underwriter joined MS Amlin in 2020 after more than 24 years with Markel.
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There has been significant talent displacement in the specialty reinsurance market.
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TMGX is designed to help insure the green transition.
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The CUO described the pricing dynamics in the line as “strong and good”.
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The worsening of extreme weather is becoming a global problem, presenting data challenges.
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Softening in the upstream market has also accelerated beyond expectations.
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The carrier laid out its business mix for the newly launched reinsurance syndicate.
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Willis said rising energy demand is creating a revival in the nuclear industry.
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Argenta will also manage the run-off and renewal of the previous White Bear binder.
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Reinsurance and property remained the primary drivers of premium growth.
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The product supports investors of early-stage carbon removal projects.
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The broker has also named Andrew Herring chair of the division from next year.
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The binder will provide capacity for international fac property, power and onshore energy.
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The Corporation said pricing within aviation was “almost certainly inadequate”.
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The broker said the list of perceived obstacles was “fairly damning” for insurers.
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Earlier this week, we revealed that Louise Nevill was joining Axa XL as specialty CUO.
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Competition for specialty reinsurance talent remains high.
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Camilla Gower joined TMHCCI in 2020 from StarStone.
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Two major claims have prompted underwriters to question the sustainability of double-digit rate decreases.
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The broker joined the Ardonagh Group from Gallagher’s Alesco in 2017.
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The MGA launched last October with a B.P. Marsh investment.
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Good ESG practices are part of good risk management, the company said.
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Seven team members are set to exit, including team lead Cooke.
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Plus, the latest people moves and all the top news of the week.
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Sources said the claim is likely to be a multi-hundred-million-dollar event.
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The upstream market has undergone a period of high personnel movement.
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Auton Green will offer up to 40% capacity on onshore renewable energy lines.
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Claims in recent months have brought a period of benign loss activity to an end in the class.
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Coverage restrictions in renewables are increasing risk for investors.
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The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
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The renewables market has seen perils such as hail deliver repeated claims.
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Michael O’Neill has been promoted to onshore power and renewables underwriting manager.
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Former Chaucer natural resources head James Brown joins as an advisor.
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The Moss Landing facility has previously faced major claims.
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Robin Hamilton has been appointed head of energy and marine liability.
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Several Marsh energy staff have defected to WTW over the past 18 months.
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It is understood that supporters include Munich Re and Brit.
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The upstream market is now in softening territory, with capacity still abundant.
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Energy has been one of the busiest lines across the market for staff turnover this year.
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It is understood that Lectio is now at ~$160mn of premium and could rise to $270mn next year.
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Jack Palmer and Toby Hanington are also joining the firm, as previously reported by Insurance Insider.
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