Your weekly re/insurance round-up, ending 14th June 2024
Reinsurance News
The re/insurance news that matters, online all day & delivered to your inbox every morning.
This week,?Aon revealed its collaboration with the U.S. International Development Finance Corporation ?to unlock and accelerate investment in Ukraine, and?Guy Carpenter launched a Capital & Advisory group .
Meanwhile, WTW observed that?US commercial insurance prices were up 6.3% in Q1 of 2024, while?Oxbridge Re announced it is evaluating strategic alternatives to maximise shareholder value , including a possible sale or merger.
Elsewhere,?Moody’s RMS reported that insured losses in Germany from the Central Europe floods could hit $3.2bn , while a liquidation risk for R&Q was noted as its Accredited sale discussions continue with Onex .
In other developments,?M&G selected Clearwater Analytics as its SaaS-based investment accounting solution , and?Kin increased the size of its reinsurance program at favorable economic terms.
Turning to the key people moves,?Lockton Re International added Rob Littlemore to its board , and?Hiscox named Mary Boyd as USA CEO .
Gallagher Re also appointed Louise Tyler as International COO , and?Deutsche Rückversicherung Switzerland placed Sonja Hoffmann as Director Underwriting .
At the same time, SCOR’s CEO Thierry Léger and Lloyd’s CEO John Neal were appointed chair and vice-chair of Insurance Europe’s Reinsurance Advisory Board .
We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.
We hope all our readers stay safe and well this weekend!
social ecological Earth system pro
5 个月Global temperature ping-pong continues - What a signal of weekly temperature swings - WTF! The next 7 days large swings of temperatures between neighboring regions are forecast. As they intensify with latitude this indicates that our atmosphere underwent a recent regime shift towards an intensification of the meridional component (north/south) and a weakening of the zonal component (east/west) of our overturning circulation... Why? Simple basic mechanisms behind it - north/south air movements are intensified by blocking systems (e.g. stopped high pressure systems) which then redirect the approaching weather systems south- or northward. This then leads to these exceptional large and fast temperature changes between neighboring regions. Which in turn should support blocking systems - so it would be a mutual reinforcing development. And as this global temperature pinp pong goes on driving the non-linear increase in extremes driven to a large extent by an increase in north/south air mass movements we can expect it to continue... Its a temperature trend map not a temp. anomaly map! #risk #globalrisk #globalbusiness #sustainability #supplychain #extremeweather #economicdownturn #climatewarming #insurance #climate