Energy
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The Aon Global Energy chief commercial officer’s move reflects continued strong interest in the broking sector among financial investors.
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Reports from operators suggest minimal damage to assets, most of which will be covered by retentions. -
Lou Canaras now leads the energy division of AmTrust Title Insurance.
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One source predicted a loss tally as low as $200mn.
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He has joined the intermediary’s Houston office.
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Early reports from the Gulf of Mexico suggest that damage could be less than the $1bn-$2bn range.
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A spell of damaging losses has led to sustained positive rate movement in the sector.
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The expansive broker adds another former JLT Re executive, intercepting Martin Stephenson’s move to Aon.
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A public insurance certificate unearthed by Reuters shows that the insurers are involved despite pledges to fight climate change.
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The broker has made sweeping changes to its global green energy broking set-up.
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City comptroller Scott Stringer said AIG, BHSI and Liberty Mutual should stop underwriting and investing in coal.
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The downstream market is expected to be less impacted although there is some BI exposure.
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