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Plus the latest executive moves and all the top stories from this week. -
Rate increases are expected across the board, as well as a tightening of the reinsurance market and increased scrutiny of facilities.
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Amid Ukraine uncertainty, there is extreme wariness among reinsurers to provide PV and terrorism cover as part of bundled specialty treaties.
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Before his departure, he held the role of head of crisis management at the carrier for two years.
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Political violence and aviation coverages had been thrown into marine composites as the market softened.
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Plus the latest executive moves and all the top news of the week.
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Sources said that Howden is the broker on the policy in London, while Markel is understood to be the lead insurer.
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Based on Lloyd’s current risk scenarios, losses from the crisis should be manageable if significant, the CFO said.
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Lancashire has direct exposure to Ukraine through aviation, marine and political risk lines, according to a Jefferies report that said the carrier will likely incur “immaterial losses” from the conflict in its aviation war business.
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The Treasury acknowledged that maintaining an unlimited guarantee remains essential to Pool Re’s operation.
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Plus more on the market’s exposure to aircraft leasing firm Aercap and the lowdown on the US 1.4 renewals.
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It is understood that the policy is written via the Aon Alpha facility and is led by Liberty Specialty Markets.
