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Somers Re acquires Lime managing agency in syndicate launch plans

The syndicate will focus on writing non-cat delegated authority business.

Catrin Shi, 23 July 2024
Daily Digest: Top news from 23 July

A roundup of all the news you need today, including Somers Re’s deal to acquire Lime managing agency.

Insurance Insider team, 23 July 2024
IQUW promotes MacDonald to head of property

The underwriter moves to the position from his current role leading property D&F.

Samuel Casey, 23 July 2024
Beazley’s CrowdStrike loss may be sub-$120mn: Berenberg

The carrier’s cyber hours clauses and sub-limits will limit exposure, according to the analyst.

Rachel Dalton, 23 July 2024
In Partnership With Beazley

Beazley CUO: Businesses Have Increased Appetite for Insurance to Help Manage Climate Risk

Businesses are increasingly interested not just in property catastrophe insurance, but also parametric solutions and directors & officers to help cover claims related to climate change, said Bob Quane, chief underwriting officer, Beazley.

23 July 2024
Cytora adds Guy Carpenter’s Rousseau to advisory board

The executive joins recent appointees Bronek Masojada and Emmanuel Clarke.

Rachel Dalton, 23 July 2024
The Microsoft/CrowdStrike outages: What we know so far

Market sources suggest that this will be a manageable loss, although at this early stage there are multiple uncertainties.

Catrin Shi, 23 July 2024
Beazley signals no change to current guidance after outage

The current guidance is that Beazley will publish an undiscounted CoR in the low-80s at full year.

Abbie Day, 23 July 2024
Berkshire Hathaway pulls out of Citizens 2024-25 risk transfer program

In 2023, Berkshire provided around $1bn in capacity to the Floridian insurer.

Shelby Rosenberg, 22 July 2024
CrowdStrike event unlikely to impact (re)insurer results: Fitch Ratings

Insured losses in the single-digit billions would not translate into a material impact for (re)insurers.

Danielle Ling, 22 July 2024

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