Asta, the leading third-party managing agent at Lloyd's and part of the Davies group, announced yesterday that Volante Global, a multi-class, multi-territory international MGA and Lloyd's syndicate, has launched Volante Singapore.
Changes in regulatory policies and market demand have led to higher requirements for talent in the mainland Chinese insurance market.
Akkuyu Nuclear Power Plant (Akkuyu NPP), billed as Turkiye's first nuclear power plant, is insured for nuclear liability risks for EUR700m ($773m).
The Bahrain-based FAIR Oil & Energy Insurance Syndicate (the Syndicate) has demonstrated adequate profitability over recent years.
Australian specialty insurance group Pop Group Holdings (POP) has received its first external strategic minority investment from New Zealand-based private equity fund Direct Capital.
Afreximbank Insurance Management Company (AfrexInsure) - a wholly owned subsidiary of African Export-Import Bank (Afreximbank) - has issued its first insurance policy.
Nigeria's domestic insurers ceded two-thirds of their oil and gas insurance business to foreign companies, a proportion that violates the local-business law that imposes a cap of 30% on business placed with foreign insurers.
There has been no significant change in upstream energy market capacity in China during 2022 and this remains the case for the moment in 2023, says Ms Su Ke, head of the Energy Department of WTW Risk and Broking China.
The start of 2023 came with the increased cost of reinsurance treaties in the energy insurance market, averaging around 30% (and in some cases more), along with increased retentions for reinsurers in the region, says Mr Andrew Brunero, head of Global Downstream Broking, Natural Resources Global Line of Business at WTW, a leading global advisory, broking, and solutions company.
Canopius Group has appointed Mr Sam Harrison as group chief underwriting officer. He will report to Canopius group CEO Neil Robertson and will join the group leadership team. He will lead the group's diverse portfolio of business across its three regional business units in London, the US and Bermuda and the Asia-Pacific region.