In the days before hedge fund manager Daniel Loeb decided to drop the buyout of SiriusPoint, Carrier Management asked analysts at AM Best and Fitch Ratings about the pros and cons of taking insurers and reinsurers private. Sridhar Manyem, senior …
Business interruption/supply chain disruption ranks as the top risk facing the construction and engineering sector, which has been hit by soaring construction costs, supply chain disruptions and labor shortages, according to a report published by Allianz Global Corporate & Speciality …
Four intrepid reinsurance executives from Convex and Swiss Re are rowing from Monterey, Calif. to Hawaii – as part of the “World’s Toughest Row – Pacific.” It’s all for charity – and, of course, for a challenging, life-changing adventure. In …
The rollout of the Lloyd’s Market Association’s (LMA) cyber war exclusions received considerable criticism for the chaos and confusion they caused leading up to their effective date on March 31. But here are some certainties about the new regime: A …
The rollout of the Lloyd’s cyber war exclusions has received considerable criticism for the chaos and confusion caused in the weeks leading up to the March 31st effective date. But there are some certainties to keep in mind about the …
Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by adequate pricing, higher investment results, …
Marsh McLennan Companies Inc. reports “a strong start” to 2023, generating 9% underlying revenue growth in the first quarter on top of 10% growth in the first quarter of last year, according to John Doyle, president and chief executive officer. …
High inflation alone led to an increase in property/casualty claims of 5%-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase of 3.5-6.5%,” said Swiss Re …
Aspect Labs Ltd., the London-based re/insurance managing general agent, has officially opened its doors for business – targeting small-to-mid-market risks that are not big enough for Lloyd’s of London. Initially focusing on the direct and facultative property arena in the …
Trium Cyber is the industry’s first Lloyd’s-approved company to provide mono-line cyber coverage for U.S. risks. Launched in January 2023, the full stack surplus lines insurer has joined the ranks of new entrants to the cyber market and those existing …
