Subscription Terms News Today

Sources said the company obtained the license from local authorities to operate as a reinsurance broker and is running a similar process in Colombia.

The outgoing CEO will step down in May and spend six months as a strategic adviser to the company.

Michael Kerner, who joined Munich Re in 2018, has been appointed to lead the operation.

The Corporation is signalling that it wants to be as responsive as possible to allow syndicates to manoeuvre – but will it merely float with the tide of inflation or can growth take off?

The carrier is reportedly looking to sell its operations in Spain, Portugal and Ireland.

The market share for the storm of 3%-5% is below syndicates’ historical average for US wind events.

The unit is led by marine veteran Ricardo Castro, who joined the firm from Marsh and has over four decades of experience in the industry.

The storm, which made landfall as a Category 1 hurricane, has now been downgraded to a post-tropical storm.

Sarah Pritchard, executive director for markets at the FCA, set out the regulators’ moves to improve efficiency and enable innovation at a speech.

New flexibility will enable top-performing syndicates to raise cat exposures under the Lloyd’s LCM 5 framework, without a penal increase in the required capital.