Tokio Marine

In the past year, criminals held more than $600mn in ransom, stole millions of citizen records, compromised a billion airline-passenger details and threatened the IT operations of 40,000 businesses.

Convex was one of the carriers to enter the contingency market following the major Covid-19 loss event.

"I want it to be almost embarrassing for Lloyd’s not to give us light-touch [status] because our results are so good,” CEO Brad Irick told this publication.

The business wrote £1.7bn in gross written premium across syndicates 510 and 1880 for 2021.

Tokio Marine & Nichido Fire Insurance Co also plans to join the partnership for Carbon Accounting Financials initiative.

Industry veteran Rick Girden runs the construction portfolio, which is projected to grow to $200mn this year.

The Japanese carrier expanded international premiums by 14.4% in the hardening market.

The pair have created a ‘carbon risk rating’ for customers that underwriters can use when considering the impact of each policy.

The underwriter has more than 36 years’ experience and has previously worked at Hiscox and Faraday.

A new CEO is coming from the US to run the unit involved in the carrier’s coverage of Greensill Capital, which was withdrawn prior to the supply chain finance firm’s collapse.

The update adds further restrictions for coal reliant businesses and offers exemptions for companies which show initiative in helping to fight climate change.

The carrier’s Singapore business has become the latest insurance company to be impacted by cyber criminals.