week commencing 09/02/20:

Luther Towers is sharing the love this week as we bring you a feast of news and views from the global insurance market – but please resist the urge to send us flowers!

Buyers baulk at capacity withdrawal

Risk managers at AMRAE this week were not feeling the love as they accused insurers of arbitrarily withdrawing capacity and said they would look for non-traditional sources of capital. External-link. [Insurance Day]

Lloyd’s makes a series of appointments

Dominic Christian from Aon was appointed Deputy Chairman. Later this week 14 experts were named as members of a newly created advisory group for cultural transformation. External-link. [Law360]  External-link. [Insurance Day]

IUMI says market moves are cyclical

Recent departures in the marine market are not indicative of a structural shift in this class according to the International Union of Marine Insurance, but rather a cyclical adjustment. External-link. [The Insurer]

A&H market turning

Commission reductions are the first signs of recovery according to market sources, as efforts are made to reduce costs in a class resistant to the price increases seen elsewhere. External-link. [Insurance Insider]

Gallagher announces leadership of specialty business

John Thompson was named as permanent CEO of the UK’s specialty London market and wholesale businesses, following his stint on an interim basis since Simon Matson became head of the UK brokerage and underwriting division. External-link. [Insurance Age]

Double digit growth in global prices

According to Marsh, Q4 of 2019 saw a 10.6% price bump in its Global Insurance Market Index, the largest year-on-year increase since 2012. External-link. [Insurance Insider]

Covea in talks to buy Partner Re

After an apparently unsolicited approach from Covea, exclusive talks are underway to pull off an all cash deal worth $9bn. External-link. [Financial Times]

LMA priorities for 2020

The Future at Lloyd’s programme and Brexit top the agenda, rolling out underwriting standards for modernised syndication. External-link. [Commercial Risk Europe]

The ultimate Valentine excuse

The environmental impact of shipping cut flowers around the world is enormous and that increases sharply in the weeks running up to St Valentine’s Day. So maybe stick to a love letter? External-link. [The Cut]

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