United States of America (USA)
Marcell named Aon’s reinsurance head
Aon has named Andrew Marcell as CEO of Reinsurance Solutions.
Berkshire becomes third-largest reinsurer on back of AIG deal
Warren Buffett’s Berkshire Hathaway became the world's third-largest reinsurer in 2017, ending European dominance over the top four.
Industry slams Tesla’s ‘misleading’ autopilot feature
The insurance sector has called out Tesla for its “misleading” autopilot feature, with industry voices criticising the motor manufacture’s language as confusing for customers.
Interview: John Ludlow, Airmic
With business models facing increasing threats from more directions than ever before, John Ludlow, CEO of the Association of Insurance and Risk Managers, spoke to Post weeks before its members gather in Liverpool and he warned risk managers need to be at…
Direct cyber market grew 32% last year
US property and casualty insurers wrote $1.8bn (£1.34bn) of direct cyber premium last year, a growth of 32% from the previous year.
Lloyd’s severs links with NRA following inquiry
Lloyd’s has instructed underwriters to no longer do business with the National Rifle Association of America, following fines on Chubb and Lockton.
Chubb and Lockton fined over provision of ‘murder insurance’
Chubb and Lockton have both been fined by a US insurance watchdog for providing what campaigners have described as “murder insurance” for rifle owners.
Lancashire profit jumps 48% in Q1
Property and casualty insurer Lancashire Holdings saw a 48% jump in pre-tax profit for the first-quarter.
Rate increases remain inconsistent, says JLT
Rate increases remain inconsistent with rises largely limited to loss effective lines of business, according to Jardine Lloyd Thompson.
Blog: Travel insurers unwittingly fuelling corruption in Peru
Craig Wright, operations manager at Traveller Assist, explains how his risk management firm has unveiled a web of price-fixing, bribery and corruption in Peru hospitals, which he warns is being fuelled unwittingly by travel insurance companies.
GBGI profit takes a nose dive in 2017
GBGI has reported a sharp decrease in its pre-tax profits during the year 2017, which fell from $11.2 million in 2016 to $3.6 million in 2017.
Sedgwick UK shakes up leadership team after Cunningham Lindsey merger
Stewart Steel has been named CEO of Sedgwick UK, which will be formed from a merger of Cunningham Lindsey and Vericlaim.
Brexit sends Anglo-American trade deal into disarray
The uncertainty surrounding Britain’s departure from the European Union has sent the prospect of a possible Anglo-American trade deal into question, the Lloyd’s market has heard.
Cunningham Lindsey to be rebranded Sedgwick following acquisition
Cunningham Lindsey will be subsumed under the Sedgwick brand following the acquisition of the adjuster last year.
Blog: Not taking hands off the wheel just yet
UK laws, roads and infrastructure are getting ready for self-driving cars but motorists remain reluctant to adopt this technology, points out Simon Walker, group CEO of First Central.
Underwriting pressure drives negative outlook for London market
Underwriting pressure from the high cost of doing business have caused Fitch Ratings to report a negative sector outlook for London market reinsurance and insurance in 2018.
Blog: Intellectual property insurance still under valued despite rise of cyber attacks
There still appears to be a significant disconnect between the understanding of cyber risks and the response to them at board level. RGL Forensics partner Ben Hobby explains that as a result companies might have already suffered, or are about to suffer,…
Endeavour introduces cyber offering to protect against physical damage
Delegated Authority Specialist and Lloyd’s Broker Endeavour has developed a cyber product to protect manufacturers against the physical damages that occur due to a breach.
Cat bond issuance hits $3.1bn in Q1
Insurers and reinsurers sponsored $3.1bn (£2.2bn) in catastrophe bonds in the first quarter of 2018, up 34% from the first quarter of 2017, according to data analytics provider PCS.
Downstream energy sector suffers worst loss in nearly a decade
The downstream energy sector suffered its worst loss record for nearly a decade in 2017 with low rating levels exacerbated by one of the worst catastrophe loss years on record.
