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Surplus capacity caused by "blatant over investment" by capital providers is to blame for the persistent rate reductions in the upstream energy market, according to JLT
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Poor underwriting results and worsening loss ratios suggest the energy market is "on the cusp" of a pricing shift, according to JLT.
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Expansive MGA Nexus Underwriting has acquired Vectura Underwriting, a Lloyd's coverholder and marine cargo specialist, from Aquila Underwriting.
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Several Lloyd's and US (re)insurers have launched a $49mn legal action against Norwegian weather data provider StormGeo alleging defective read-outs from its system contributed to the sinking of the El Faro in 2015, according to court documents.
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CNA Hardy has hired Alistair Marriott from Neon to lead its cargo division at Lloyd's, it announced today
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MS Amlin has hired Björn Gehrcken as lead class underwriter of marine and aviation based in the company's Hamburg office.
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(Re)insurers could find themselves on the hook for around $1.5bn of claims from the Jubilee fields loss as the largest insured involved, Tullow, prepares to increase its claim, The Insurance Insider can reveal.
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Net profit before members' credit at Skuld rose almost threefold year-on-year to $50.6mn in 2016, as a surge in investment income offset a weaker underwriting performance
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UK-based marine mutual carrier TT Club grew its top line by 3.3 percent in 2016, while underwriting profitability dwindled
