week commencing 28/07/19:

As members of Luther Towers prepare to throw their beach towels on the sunbed of life, this week is our last news round up before September – but some light holiday reading, perhaps? And yes, we will send postcards!

Digging a hole for coal

Suncorp, one of the biggest insurers in Australia, has said that it will no longer write insurance for new thermal coal mines or power plants, phasing out all exposure by 2025. External-link. [Asia Insurance Review]

First half results show increasing optimism

Beazley’s Andrew Horton is just one of the senior figures at Lloyd’s feeling growing optimism about rates. External-link. [Insurance Day]

Q2 nat cats top $15bn

Thunderstorms and tornadoes in the US Midwest led this quarter’s list of nat cats, according to Munich Re. External-link. [Insurance Insider]

US grocer sues insurers over opioid litigation

Giant Eagle, a US-based grocer and pharmacy, is suing XL Specialty and a Zurich subsidiary over the insurers’ failure to defend it in legal actions relating to opioid addiction. External-link. [Insurance Insider]

Arch to buy Barbican

Bermuda-based insurance group Arch confirmed that it is to purchase Barbican Group Holdings for an undisclosed sum. External-link. [Intelligent Insurer]

Data breach leads to NY enquiry

New York’s attorney general is to investigate Capital One Financial following the loss of data relating to around 100m credit card holders and applicants in the US. External-link. [USA Today]

Ultra-large vessels could increase losses

AGCS’s global head of marine Captain Rahul Khanna warned that the growing number of ultra-large vessels is leading to a worrying accumulation of risk for the insurance market. External-link. [Insurance Day]

Lemonade rival seeks to grow in US

One of Lemonade’s new rivals Hippo has raised $100m to grow its position in the US with the aim of being accessible to 80% of US homeowners by the end of 2019. External-link. [Insurance POST]

Swiss Re firm on pledge to ditch ReAssure

Despite news of an IPO for UK life insurer ReAssure, Swiss Re has reiterated its plans to reduce its stake in the business. External-link. [Financial Times]

Guy Carp revenues down, Glaser points to JLT

Marsh CEO Dan Glaser has cited his company’s acquisition of broker JLT as the reason for a 3% reduction in underlying revenue at Guy Carpenter. External-link. [Insurance Business]

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