London Market brokers are increasingly embracing the use of electronic placement with the number of risks placed this way increasing by 350 percent in the past 12 months, according to data released by the Board of the London and International Insurance Brokers Association (LIIBA).
Foreign reinsurers operating in India will now stand a better chance of winning business in the country after the Insurance Regulatory Authority of India (IRDAI) changed its rules around how domestic insurers buy reinsurance, according to media reports in India.
Re/insurers can capitalise on a growing capital efficiency gap caused by the impact of climate change if they can educate buyers and develop products able to solve some of these challenges, according to Greg Lowe, global head of resilience and sustainability at Aon, in a new report called ‘Weather volatility and chronic climate risk: a growing capital efficiency gap.’
Haven Holdings, a specialist runoff insurer based in Puerto Rico, has appointed Gordon Rowell as the chief operating officer of Time Insurance Company, a business it recently acquired from Interfinancial, a subsidiary of Assurant.
MarketScout, the electronic insurance exchange and specialty MGA headquartered in Dallas, Texas, has expanded its private client solutions team with the addition of Eduardo Crema as a production underwriter.
SCOR Global Life has merged its global markets and client solutions teams under one leadership structure.
International loss adjuster Charles Taylor Adjusting (CTA) has expanded its property and casualty offering with the addition of six new loss adjusters specialising in complex corporate liability claims.
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has secured a licence for its European insurance company Liberty Mutual Insurance Europe SE (LMIE) to operate from Luxembourg.
The US Department of the Treasury and the Office of the US Trade Representative intend to sign a bilateral agreement between the US and the UK on prudential measures regarding insurance and reinsurance (US-UK Covered Agreement) as the UK leaves the EU.
Bermuda-based Enstar Group, Germany’s Allianz and investment firm Hillhouse have made equity investment commitments in aggregate of $470 million as part of a joint venture to Enhanzed Reinsurance, a Bermuda-based Class 4 and Class E reinsurer.