Munich Re
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Munich Re Specialty Insurance (MRSI) has promoted Jeffrey Marks to COO, effective immediately.
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The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
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In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
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Hohman succeeds Elizabeth Kramer following her recent appointment as president of E&S Lines. He will also become a member of the MRSI executive leadership team.
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AM Best said market hardening was likely to continue through 2024, given global market conditions.
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Liz King Kramer will be responsible for executing the sector’s business plan and driving growth.
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A memo from the reinsurer raises concerns for cyber insurers over whether they could face a coverage gap after renewals.
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Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.
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Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
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She has served as interim CEO since January, after former CEO Michael Kerner was appointed as a board member.
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Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.
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Industry climate alliances have received allegations from conservative politicians and regulators in the US that such commitments are illegal group activities that violate antitrust laws.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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Highlander has $300mn of insurance coverage, placed by Ed Broking and led by Munich Re Syndicate.
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No successor will be named and some of Kuczinski’s responsibilities will be transferred to a new board division called GSI.
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The year 2005, which featured the devastating Hurricane Katrina, remains the most expensive storm season.
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The reinsurer said it will be “significantly more challenging” to hit EUR3.3bn 2022 profit target.
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The carrier will no longer invest or insure contracts and projects directly relating to new oil and gas fields, new midstream oil infrastructure and new oil-fired power plants.
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US severe thunderstorms caused insured losses of $17bn during the first half.
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The loss comes hard on the heels of a large BI claim stemming from the Freeport LNG refinery.
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With more than 25 years of industry experience, Karen Rzeszutko will lead the inland and ocean marine underwriting teams.
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Dual’s crisis management team joined from Swiss Re in July 2021.
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Scor has appointed Vanessa Contreras, its deputy team leader for professional lines, to Haynes’ old role overseeing all of US casualty.
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The new coverage marks the first time that sovereign debt repayments have been protected by a parametric catastrophe clause.
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Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.
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Munich Re’s venture capital arm Munich Re Ventures has closed a $500mn Munich Re Fund II to invest in early-stage companies.
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The ransomware surge is likely to lead to changes in the product, a shake-up in market share and challenges for MGAs.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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HDVI is planning to launch in Illinois, Indiana, Ohio, and Minnesota, on top of its existing presence in Tennessee and Alabama.
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The new unit will place cover for clients trading between the US and Canada.
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The reinsurer says it is in discussion with clients and industry trade bodies on the issue.
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Bob Parisi says the tie-up is a first step towards more accurate pricing and coverage for clients.
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The reinsurer has around a 20% line on the broadcaster’s policy, with Willis Towers Watson acting as the broker.
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Amazon also joined the investment round through its Alexa Fund.
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Celerity will write public and private D&O business for the wholesale insurance market.
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