week commencing 20/06/21:

Against a backdrop of Russian gunships firing warnings near Crimea and England going head-to-head with Germany in the Euros, underwriters can be glad the worst they have to deal with is managing renewals in a hard market.

Rising costs lead reinsurers to be more cautious

The growing impact of climate change related natural catastrophes and the financial burden of the coronavirus pandemic are leading reinsurers to be more cautious ahead of the July renewal season. External-link. [Insurance Day]

Increasing appetite for M&A among European insurers

According to a survey of Chief Financial Officers conducted by Moody’s, as we emerge from the pandemic, European insurers appear to have a stronger appetite for M&A. External-link. [Reinsurance News]

Hiscox sees strong premium growth

Kate Markham, CEO of Hiscox London Market, comments that rate growth in many lines has exceeded expectations this year. External-link. [Insurance Day]

D&O premiums on the way up

Increased regulation for companies creating a SPAC has led to higher premiums for directors and officers’ liability coverage. This has led many companies to consider limited coverage or self-insurance. External-link. [Reuters]

Varied outlook for 1 July

Views vary widely on the outlook for the July reinsurance renewal, with a pattern of price increases forecast but those rises being lower than expected in the US and Australia. External-link. [Insurance Insider]

Peace on the Suez Canal

After three months of being anchored in a lake half-way up the Canal, an out of court settlement on compensation has been reached so the Ever Given can be released. External-link. [Reuters]

LMA creates new model for MGA partnership

The Lloyd’s Market Association has created a new business and distribution model for delegated authorities which will significantly change how MGA business is conducted. External-link. [Insurance Insider]

BMS, PIB and Miller wooing Tysers

Media reports suggest that a shortlist of bidders is being drawn up for the Integro-owned Lloyd’s broker. The sale of the market’s oldest broker is the latest example of consolidation in the sector. External-link. [The Insurer]

Threat to Willis Re if Aon-Willis deal collapses

There are three potential outcomes for Willis Re if the US Department of Justice succeeds in its attempt to block the deal, including management exit, a sale of AJ Gallagher on different terms or a sale to private equity. External-link. [Insurance Insider]

Marine broker floats to the top

Maxim de Prins from marine broker Marsh has topped the Gracechurch survey of London’s Leading Brokers 2021. His colleague from the energy team, Aditya Khanna, came in second. External-link. [The Insurer]

What does it take?

After months of home working, businesses are now looking for ways to entice employees back to the office. Many have started to offer live outdoor gigs, barbecues and free coffee to incentivise their staff to break out of their athleisure and head back to the City. External-link. [Financial Times]

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