Energy
Power market shows softening environment
According to the latest Power Market Review from Willis, insurance rates in the power sector are expected to soften further in 2010, despite the existence of many of the conditions that would normally presage a hardening market.
Munich Re records €709m profit in Q2 2010
Munich Re has achieved a consolidated profit of €709m (Q2 2009: €697m) in the second quarter of 2010.
Munich Re records €709m profit in Q2 2010
Munich Re has achieved a consolidated profit of €709m (Q2 2009: €697m) in the second quarter of 2010.
Engineering - air conditioning: Keeping it cool
With air conditioning no longer a novelty in the UK, Thomas Howe argues more care needs to be taken over refrigeration issues.
RSA on track to double book
Mark Christer, managing director of More Than, has taken over RSA's global renewable energy book.
Gallagher International announces latest acquisition, SBA
Gallagher International has acquired Australia-based natural resources risk management provider Specialised Broking Associates for an undisclosed sum.
Deepwater impact on rates "modest"
Major losses in the Gulf of Mexico will not have the same market-changing impact on the upstream energy insurance market as Hurricane Katrina, according to Marsh.
Beazley gives warningover energy rate spike
Worldwide energy insurance rates will continue to harden in 2010 due to the Deepwater Horizon oil disaster, with a further spike possible at the reinsurance renewal season, Beazley has claimed.
Marsh appoints new claims leader
Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.
Transatlantic Holdings records fall in income
Transatlantic Holdings has recorded a second quarter net income of $111m, or $1.70 per common share (diluted), compared to $112m, or $1.68 per common share (diluted), for the same quarter last year. It saw a $14m hit from the Deepwater Horizon explosion.
Scor reports 19% growth at treaty renewals
P&C and specialty treaty renewals at end of June have resulted in premium growth of 19% at constant exchange rates, whilst fully respecting the technical underwriting profitability criteria.
JLT strikes Euro alliance with three continental powerhouses
Three European independent insurance brokers, Siaci Saint Honore, Greco Group and Ecclesia Group have come together with Jardine Lloyd Thompson to sign an exclusive trading agreement.
Inside View: On the brink of change
Despite BP's self-insured status, oil and energy (re)insurance could be about to undergo radical change in the wake of the Deepwater Horizon disaster, writes Alistair Lockhart-Smith
Rethink: On the brink
Our monthly roundup of reader opinion shows that rates are stable but that a natural disaster could soon change the playing field
Kiln appoints two in Asia
Insurance and reinsurance underwriters Kiln have appointed Paul Dreblow and Kenneth Leung to their team in Asia.
Walsham Brothers director appointed Guy Carpenter marine and energy head
Martin Pepper has been appointed as head of Guy Carpenter’s London-based marine and energy practice with effect from August 16, 2010.
RSA appoints renewable energy underwriter
Insurer RSA has appointed Soledad Vitale as a renewable energy underwriter.
Chaucer agrees Norwegian deal
Chaucer has formed a new energy partnership with Scand Ins - the Scandinavian Insurance Management Company.
Chaucer agrees Norwegian deal
Chaucer has formed a new energy partnership with Scand Ins - the Scandinavian Insurance Management Company.
Climate change - Governance: Running hot and cold
Risk managers have been gearing up for the impact of climate change, but one area of uncertainty remains. Lindene Patton takes a look at the political and regulatory factors.
40% chance of storm passing Gulf spill by end of August: RMS
RMS suggested there is just over a 15% chance that a tropical storm or hurricane will pass within 100 miles of the Macondo oil well before the end of July, rising to more than 40% by the end of August, requiring precautionary evacuation of the…
Ascot and Hannover form power pact
Inter Hannover and Ascot Underwriting have formed a dedicated technical underwriting vehicle for the power and utilities industry.
Alex to strengthen as hurricane watches issued for Texas and Mexico
Tropical Storm Alex, the first named system of this year’s Atlantic hurricane season, strengthened as it forced the evacuation of some offshore rigs and pushed swells toward a slick left by the Deepwater Horizon spill.
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.