Pol risk, credit & surety
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QBE Europe’s UK surety manager Tom Johnson is leaving the company and looks set to join Chubb, Insurance Insider can reveal.
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Perry will be based in London and report to Nick Robson, global leader, credit specialties.
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The carrier has also promoted Srdjan Todorovic to lead its global political violence operation.
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The broker’s political risk report has highlighted the competing interests between countries for ownership of untapped natural resources and space exploration.
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The deal marks Xenia’s ninth acquisition in three years and kicks off its international expansion plans.
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Sources have also said capacity is reaching its limit as the appetite to large credit and political risk polices decreases.
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Reuters reported that if a foreign lessor terminates the agreement, a special government commission is to decide whether the aircraft can be returned.
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The analytics firm warned of retaliatory attacks on banking and financial services, IT services, ISPs, shipping and logistics, and public utility companies.
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The London market is understood to be significantly more exposed to Russian business than Ukrainian.
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Those writing large energy or infrastructure risks, such as London market insurers or international reinsurers, will be most affected by the war, the ratings agency warned.
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Despite an increased risk environment, capacity has increased for political risks, trade risks political, trade risks commercial and non-trade insurance, the broker said.
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However, underwriting criteria has “tightened” as a result of unpredictability over company finances and previous loss activity.
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