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Digests
Daily Digest: Top news from 3 October
A roundup of all the news you need today, including the launch of Pine Walk’s reinsurance MGA.
Insurance Insider team
,
03 October 2024
London market
Clarke elected president of Insurance Institute of London
The WTW president of risk and broking is the first woman to hold the role in the institute’s history.
Abbie Day
,
03 October 2024
Reinsurers
Pine Walk Capital launches reinsurance MGA Silverflame Re
The announcement comes a week after the launch of international property MGA Seraphina.
Abbie Day
,
03 October 2024
MGAs/MGUs
Optio acquires Luxembourg MGA Circles
The deal is Optio’s largest in Europe to date.
Rachel Dalton
,
03 October 2024
London market
Escalation in Lebanon puts PVT market on watch but ~$500mn exposure manageable
Many insurers have cut back lines in Lebanon, although larger insured sums are at stake in Israel.
Ayesha Venkataraman
,
03 October 2024
Catastrophe losses
Helene severity likely amplified by climate change: GC
Rising sea levels and ocean warming were likely factors in Helene’s strength.
Caroline Ryan
,
03 October 2024
Catastrophe losses
Insured losses from Hurricane Helene estimated at $6.4bn: KCC
The figure does not include NFIP losses.
Kyoung-son Song
,
02 October 2024
Bermuda
Ascot elevates Dalton to group chief claims officer
Based in Ascot’s London office, he will develop and lead claims strategies.
Shelby Rosenberg
,
02 October 2024
Re/insurers
Beazley adds $290mn cyber ILW limit to its reinsurance protection
The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
Abbie Day
,
02 October 2024
London market
Turk: Lloyd’s reinsurance offering must be ‘different and additive’
The CUO said the market must not try to recreate the conditions of 20 years ago.
Rachel Dalton
,
02 October 2024
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