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WRB Underwriting takes Zurich’s Brundell for specialty casualty

The underwriter has more than 25 years’ experience in the market and will work as deputy director of underwriting for specialty casualty.

Samuel Casey, 30 March 2022
Italy’s MAG acquires majority stake in InsurTech Neosurance

Neosurance will use the investment to advance product development and accelerate international growth plans.

Aisling Finn, 30 March 2022
London market’s legacy systems could ‘doom it to irrelevance’: survey

Nearly 70% of respondents to an Airmic survey said the market’s IT systems were gradually improving yet still not fit for purpose.

Luke Harrison, 30 March 2022
Excess restructures will lead to savings for large cargo accounts: Gallagher

The broker said the market was flattening but that large losses in the first quarter would sustain pricing levels.

Samuel Casey, 30 March 2022
Beazley restructures underwriting operation into four units

Greenwood, Bantick, Turner and Montminy will head up the new divisions.

Rachel Dalton, 30 March 2022
Byron Bay hit by 200mm-300mm of rainfall in 24 hours

Dozens of shops in the New South Wales coastal town’s centre were affected.

Liz Bury, 30 March 2022
Australian reinsurance pool legislation passes

The new law, set to be implemented on 1 July, seeks to lower insurance premiums for cyclone-affected areas of Australia.

Aisling Finn, 30 March 2022
WTW appoints climate expert Noss to boost transition to net-zero

Joseph Noss was on the G20 Financial Stability Board in Basel, where he focussed on climate financial regulation for the banking, investment and insurance sectors.

Aisling Finn, 30 March 2022
Nat cats account for $111bn of 2021 insured losses: Swiss Re

Continuing a trend of several years, secondary perils caused most insured losses at $81bn, or 73% of the total.

Rachel Dalton, 30 March 2022
Opinion: AerCap’s $3.5bn all-risks claim raises spectre of aviation doomsday scenario

The unlimited sideways exposure in the all-risks market has the potential to make the Ukraine-Russia situation even graver for the aviation market.

Catrin Shi, 30 March 2022

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