All Monte Carlo News
Insurance
The rise in cyber attacks, and specifically ransomware incidents, has brought about “some very interesting changes” for the class of cyber insurance, Daniel Carr, head of Cyber at Ariel Re, told Intelligent Insurer. 11 September 2022
Insurance
Demand for environmental, social and corporate governance (ESG)-reputational risk insurance is surging, but, according to Nir Kossovsky, chief executive officer of Steel City Re, there is a lack of capital available. 11 September 2022
Insurance
The sizable gap between interest rates and inflation in many economies could represent a potential wild card that many in the industry may not have considered, Stuart Shipperlee, managing director of Litmus Analysis, an advisory firm specialising in ratings and credit risk, told Intelligent Insurer. 11 September 2022
Insurance
Industry veteran Donald Harrell, who founded Montague Risk Partners in late 2021, describes the firm’s recent deal to acquire a stake in two UK-based firms in the managing general agent (MGA) space as just the start of its three-pronged approach—and hints there will be more announcements by year-end around drawing tech-focused firms into the insurance space. 11 September 2022
Insurance
Lloyd’s of London will close its building on the day of Queen Elizabeth II’s funeral, Monday September 19, as a mark of respect, the market has confirmed. For the same reason, chairman Bruce Carnegie-Brown and chief executive John Neal are not in attendance at the Monte Carlo Rendez-Vous this year. 11 September 2022
Insurance
Inflation will continue to impact the reinsurance market, but some of the pressure on energy prices will abate, according to AM Best, speaking in a press conference in Monte Carlo yesterday (September 11). 11 September 2022
Insurance
The idea that challenges such as climate change can be tackled by simply increasing rates is a misconception—as is the market’s obsession with describing a hard market. Instead, the focus should be on the nature of coverage and helping clients better manage risk. 11 September 2022
Insurance
PERILS has announced the expansion of its market coverage to include exposure and event loss data for European floods. 11 September 2022
Insurance
The insurance industry is headed for a “true hard market” where demand for property cover may not be fully satisfied because of reduced capacity, Manuel Arrive, a director in Fitch Ratings’ insurance group said at a Reinsurance Briefing in Monte Carlo on September 10. 11 September 2022
Insurance
Laurent Rousseau, chief executive officer of SCOR, said “there are parallels to be drawn” between the state of the insurance industry in 2017 and the reinsurance industry today, in a speech at the Monte Carlo Rendez-Vous. 11 September 2022
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