News
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
Insurance
Reinsurance broker TigerRisk Partners has formed what it is calling a cat capacity SWAT team, dedicated to identifying new sources of property-catastrophe capacity, as a potential capacity crunch looms for cedants ahead of next year’s cat renewals, many of which are themselves seeking more coverage as property exposures soar. 11 September 2022
Insurance
A highly complex risk environment caused by influences within and outside of the sector, coupled with the evolving dynamics of a hardening market, are generating significant volatility within the reinsurance sector, yet there is much to inspire confidence among re/insurers. 11 September 2022
Insurance
The amount of data held by the largest insurers is comparable to that in the hands of internet giants such as Facebook and Amazon—yet the industry is unable to leverage it because such a high percentage is stored in an analogue format. Changing this should be the number one priority for any insurance CEO. 11 September 2022
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