- September 17, 2021
- Posted by: lutherpendragon
- Category: Insurance news
week commencing 12/09/21:
It’s been a week of shake-ups. Emma Raducanu served notice to the tennis old guard. Boris Johnson shuffled his Cabinet and China’s feathers were ruffled by a new US, UK, Australia security pact. Luther Towers by contrast has been all swan-like serenity in our search for the best of this week’s insurance news.
Insurers call for Solvency II overhaul to aid green transition
Insurance executives told an influential group of MPs on Monday that the UK should make urgent reforms to the EU’s Solvency II capital rules in order to free up cash for green investments.
Ida losses could reach $30 billion
Insured loss estimates from Hurricane Ida have increased to between $20bn – $30bn after adding the impacts of inland flooding, according to AIR Worldwide.
Vitruvian starts selling off CFC stake
The process for private equity house Vitruvian to divest its 40% stake in CFC has formally begun, with interest in the cyber specialist MGA expected to be keen.
Cat rates expected to climb
Following the severe summer floods and wildfires, European cat rates are expected to rise at the 1 January renewals, according to Guy Carpenter’s Europe CEO Massimo Reina.
LMA adds six to its board
The Lloyd’s Market Association has highlighted its diversity efforts with the appointment of six new board members to support the market in key areas.
US considers “cyber bullets” in war on hackers
The US government is considering proposals to use cyber weapons as part of a comprehensive strategy to dissuade adversaries, according to National Cyber Director Chris Inglis.
Bermuda pay-outs to UK top $35 billion
The Bermuda Monetary Authority reported that during the five-year period from 2016 to 2020, Bermuda (re)insurers paid out US$35.2 billion to UK policyholders and cedants.
Dale Underwriting owner granted approval for managing agency
Lloyd’s has granted Dale Underwriting Partners (DUP) parent Dale Partners in-principle approval to form its own managing agency, Dale Managing Agency.
Would you take financial advice from a FinTok?
Almost 20 million people in the UK trust financial advice shared on social media platforms from so called FinTok influencers, including Kim Kardashian.
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