Losses to the crisis-hit upstream energy market may have reached $2.7bn in the year to date as medium-sized claims continue to pummel the sector, according to figures from JLT and separate numbers from market sources.
The trend for soft treaty capacity to absorb business previously ceded to the facultative market is set to continue with a new fac facility being planned by global insurer Zurich, sister title Inside FAC reported today (21 September).
Arthur J Gallagher International has continued its Latin American expansion with an agreement to acquire a controlling stake in Colombian retail insurance broker Guianza S.A. Corredores de Seguros (Guianza).
Dougal Kerr, head of casualty facultative at Aon Benfield, is set to become the latest senior management figure to leave the division this summer with a move to rival broker RK Harrison, Inside FAC can reveal.
(Re)insurers have won a significant victory against US rail operator Amtrak in the latest round of their long-running dispute over payments arising from Superstorm Sandy.
Allianz Global Corporate & Specialty's newly launched global entertainment division is considering expanding into new lines, and is actively targeting growth in the London market, Inside FAC reported today (8 June).
