Energy
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Rate growth in the sector stands at 20 percent and in some cases even higher. -
The broker predicts a “period of turmoil” among energy companies and their insurers.
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The Dubai-headquartered company will list on the Nasdaq today, giving it additional access to capital markets.
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The deal comes as renewable energy rates continue to harden.
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Market sources said the carrier was no longer accepting submissions across those classes of insurance.
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The move comes amid rate hardening across both energy and marine insurance.
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The AIG executive urged carriers to be "part of the solution" and help customers transition to cleaner energy.
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Sam Walsh joins from GCube, while liability specialist Pifer moves over from another Axis division.
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Losses in the wider casualty market are affecting relatively loss-free pockets of the energy sector.
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The broker said a significant loss could trigger a drop in capacity, which is at an all-time high.
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Rates increases of 25 percent and far higher are set to accelerate in the coming year.
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Karey Vaught has joined Alliant as an executive vice president, serving US energy and marine clients.
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