Energy
AJG posts rise in profit to $93.5m
Broker Arthur J Gallagher reported a group increase in profits to $93.5m [£61.4m] for the second quarter of 2013, from $71.7m in the same period of 2013. Adjusted total revenues for AJG’s brokerage segment were up 16%, base organic commission and fee…
Renewable energy market could triple insurance spend by 2020
The amount spent on insurance annually to mitigate risks to renewable energy projects could triple by 2020, according to a new report sponsored by Swiss Re.
Renewables market could triple insurance spend by 2020
The renewable energy industry could triple its annual insurance spend by 2020 to mitigate risks to projects, according to a new report sponsored by Swiss Re.
View from the Top: Environmental protection
Clean tech firms could find themselves in a mess if they fail to secure adequate cover, says Paul Skinner, segment specialist underwriter, Chubb Insurance.
Lancashire appoints new head of energy and marine
Lancashire Holdings has appointed James Flude as head of energy & marine for its UK operation.
Employment: Port in a storm?
Does the insurance sector’s resilience in a difficult economic climate make it a safe haven for employees, or are industry staff in as much peril as the rest of the UK workforce?
Insurers braced for losses after Canada train derailment
Insurers are facing further losses in Canada after a freight train carrying crude oil exploded in the middle of a small Canadian town.
Europe: Draining energy
Europe was fast out of the blocks with its carbon emissions schemes but the financial downturn and the emergence of Asia and Latin America is threatening its future, Steve Kingshott writes.
Insurance infographic: The Impact of the 2011 Energy Act on property lettings
In this insurance infographic, Zurich focuses on the Energy Act 2011 which contains provisions to make it unlawful from April 2018 to rent property that does not hit minimum energy efficiency standards.
Ace appoints Bartolo as UK & Ireland environmental risk manager
Ace Group has hired environmental consultant Emma Bartolo to manage its UK & Ireland environmental liability book.
AIG extends oil and gas cover
AIG has expanded its oil and gas product to offer increased limits and cover, coupled with stronger specialist loss control services.
ProSight Specialty Underwriters appoints non-exec director
Lloyd's coverholder ProSight Specialty Underwriters has appointed Peter Goddard as a non-executive director with immediate effect.
Hannover Re to reinsure energy savings warranties
Hannover Re has joined with KlimaProtect to develop an energy savings warranty insurance product for industrial enterprises in Germany.
Q-Re appoints new management team
Q-Re has recruited a new management team, following the appointment of chief executive officer Gunter Saacke in February.
Catlin reports 12% GWP hike in cat-free quarter
Catlin has reported a 12% increase in gross written premium to $1.84m in the first quarter of the year compared to the same period in 2012 (Q1 2012: $1.64m).
New India Assurance warns over government Iran oil cover
The government owned insurer has warned that an energy insurance pool to cover oil imported from Iran might not be sufficient.
View from the Top: Eco plans must pass litmus test
Environmentally friendly buildings can cut down on CO2 emissions but at what cost?
Diversified economy helps Kuwaiti insurers but challenges remain
Kuwait’s bid to balance its revenue sources through the development of non-oil sectors, along with more stringent regulation of the insurance market, will have beneficial consequences for the nation’s insurers, according to research by Timetric.
India's banking secretary confirms 20bn rupee energy fund
India’s Banking Secretary Rajiv Takru has confirmed that the country will establish a 20bn rupee (€283m) insurance fund to cover refiners buying crude from Iran.
Floods devastate Argentina's capital
Flash flooding in Argentina has claimed more than 50 lives and halted production at the country’s largest oil refinery.
‘Worrying trend’ for over-regulation making UK market less competitive
Rising regulatory costs are becoming a financial burden the UK’s insurance market can ill afford in the face of international competition, Lloyd’s finance director Luke Savage has warned.
Munich Re to develop geothermal exploration insurance in Turkey
Munich Re and The World Bank’s International Financial Corporation have agreed to develop geothermal exploration risk insurance in Turkey.
Emerging market megacities will be "gamechanger" says Swiss Re
Eight of the top megacities in the world will be in emerging markets by 2025, according to Swiss Re.
Indian refiners to halt Iranian oil imports
India’s oil refiners may cease crude imports from Iran next month as a result of their inability to access cover due to Western sanctions, the head of its largest refiner has said.