Brokers

The state insurer expects to face a 29% increase in its premium rates, driven by exposure growth.

TigerRisk Partners has added two new brokers to its delegated authority business, including entering the Australian market as it appointed Simon Chandler as head of reinsurance broking programmes and binders.

The broker’s appointment of Jim Fiore follows his decision last year to leave QBE after nearly 30 years at the carrier.

Michael Fitzgerald has also been promoted to head of the firm’s North Carolina office.

The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.

At Lockton Re, Cheney spent the last 18 months as senior broker and co-leader of its property practice.

European loss experience drove the firm’s index back in line with 2014 levels.

The new coverage marks the first time that sovereign debt repayments have been protected by a parametric catastrophe clause.

Madison Dearborn has increased its shareholding, while HPS has reinvested.

The BMS meteorologist said early data indicated “truly historic outbreak”, and that similar events typically cost the industry in the low-single digit billions of dollars.

1 January renewals are running late across the board as reinsurers hold out for improved terms, but the retro segment is the most challenged for capacity.

The target firm deals in engineering, energy, P&C and specie.