US insurers likely had $1.16bn invested in failed banks
Insurers incomparable to banks given stable liability profile & solvency measures.
US auto insurance inflation stalls, but easing claims raise margin hopes
Repair cost inflation had gone from single digit to 23% in 6M before February easing.
PERILS pegs New Zealand floods at $1.02bn at first glance
Floods may be largest weather-related New Zealand insurance loss, third largest cat event.
Sedgwick plucks claims guru from Covéa for UK private client leadership
New talent follows the 2022 addition of new private client development director in 2022.
Howden adds to the European stable, picks up brokerage via Swiss unit
Howden’s Swiss unit was launched in 2021 and is now out to 75 employees across seven offices.
Louisiana draws nine insurers to P&C market on subsidy offer
Insurer subsidy requests ran 1/3 over budget; some 55,000 homes could get cover.
Westfield Specialty builds out management liability, more lines pending
Expansion of offer goes hand in hand with extension of admitted capacities across US states.
AXA XL pulls talent up the ladder after new top appointment in marine
Newly named CUO picked four underwriters from his team to rise in his wake.
Global protection gap at $2.8tr; cyber dominates uncovered P&C threats
Advance of technology has driven cyber protection gap to nine times the gap in nat cat.
Lloyd’s rejigs c-suite in bid to hone focus on Blueprint Two & London Bridge
Lloyd’s lightens the load for CFO Keese, increasing oversight on long-term initiatives.