Energy
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Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants. -
Longbrook Insurance will write multiple lines of business.
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It is understood that the MGA wants to start with renewable energy and transactional liability.
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Activists from the left and the right are focusing on insurance, often on the same issues.
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The state’s AG said the case threatens continued offshore oil and gas operations.
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The subsidiary will offer primary and excess liability.
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JH Blades, Southern Marine and Energy Technical Underwriters will merge to form the new brand.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Appointments include leadership in transportation, energy, marine and others.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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The executive has spent 13 years in the broker’s marine division.
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Renewable energy premium written in London and international markets amounts to $2bn.
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It is the second deliverable of the FIT Transition Plan Project.
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The carrier laid out its business mix for the newly launched reinsurance syndicate.
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Competition for specialty reinsurance talent remains high.
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Robin Hamilton has been appointed head of energy and marine liability.
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The MGA secured backing from buyout heavyweight KKR in March 2021.
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The report aims to plug the gap in insurance-specific guidance.
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The promoted employees have all been with BHSI’s Singapore offices for years.
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Severe convective storms, wildfires and hurricanes increasingly moving inland are top concerns for the industry.
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The downstream market is also starting to soften after a “massive influx” of premium income.
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The broker said achieving profitability “remains challenging” for insurers.
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The all-items CPI increased 3% year-over-year, down from 3.3% in May.
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The lineslip will focus on coverage for the energy transition space.
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Mizell will be based in IMA’s Houston office, its fastest-growing regional division.
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The CEO said companies are still taking charges on years 2013 to 2019.
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WTW predicted that ‘meaningful softening’ could creep into energy markets during the year.
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Increased reinsurance retentions left some insurers with their worst net results in a decade.
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Graham Knight will become chairman of natural resources.
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The companies originally established the capacity agreement in January 2023.
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The facility will target operators across the US, onshore and offshore.
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It will begin underwriting from April 2024.
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The business will be led by Alex Kirkby, new head of marine and energy.
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The appointment comes two weeks after this publication revealed that the executive had resigned from Lockton to join the rival broker.
