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