Energy
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Underwriters expect to book increases of 2.5 percent as capacity still abounds in the sector. -
The senior underwriter said uncertainty over state tax breaks had contributed to an uptick in claims.
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The pull-back comes amid a repositioning of energy at Liberty’s Global Risk Solutions (GRS) operation.
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The Bermuda carrier will also curb investments in fossil fuel-exposed companies.
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Remote controls will soon allow insurers to access immense datasets about high-value assets, according to panellists at a conference.
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A panel of upstream energy experts at the Energy Insurance London conference nevertheless see opportunities from the transition to renewables.
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The withdrawals are part of ongoing efforts to redeploy capital away from underperforming lines of business.
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Matt Lucas joins as managing director of business development, while Dvorit Mausner will be director of execution.
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Lucy Clarke said insurers must better understand risks as energy firms move from finite to renewable sources.
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Barnes moved to Houston earlier this year to lead the Marsh JLT integration
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The decision, made by a US bankruptcy judge, sent PG&E shares plummeting by as much as 30 percent on Monday.
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A report from the broker said insurers’ tolerance of mediocre results has hit an ‘inevitable bottom’.
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