Pol risk, credit & surety

The deal involved the use of a non-payment credit insurance policy covering exposure on a GuarantCo portfolio transaction.

Two of the most-exposed segments to the war have experienced very different years, with sweeping PV changes contrasting to more stable conditions in parts of the aviation sector.

Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup.

Capacity stands at near-record levels for structured credit and political risk, despite key risks such as China’s zero-Covid policy, the Russia-Ukraine conflict and a difficult month of reinsurance renewals.

The expected results are a result of the unusually low levels of insolvency and subsequent claims frequency.

The Cayman Islands-headquartered reinsurer held a 49% stake in the Mexican firm, according to its 2021 annual report.

Dover and Nersessian-Hristova’s appointments mark the first expansion of Convex US since its launch earlier this year.

Based in New York, Greer is responsible for leading the surety reinsurance efforts in the United States, Canada and Puerto Rico.

The broker said Ukraine will fall into a deep recession this year following Russia’s invasion.

The Ukraine loss reserve tally has reached $2.4bn as of the end of June.

Carriers in the class are reassessing risk appetites amid inflation, the Ukraine war and a growing risk of countries defaulting on sovereign debt.

QBE Europe’s UK surety manager Tom Johnson is leaving the company and looks set to join Chubb, Insurance Insider can reveal.