Munich Re

The reinsurer said it will be “significantly more challenging” to hit EUR3.3bn 2022 profit target.

The carrier will no longer invest or insure contracts and projects directly relating to new oil and gas fields, new midstream oil infrastructure and new oil-fired power plants.

US severe thunderstorms caused insured losses of $17bn during the first half.

The loss comes hard on the heels of a large BI claim stemming from the Freeport LNG refinery.

With more than 25 years of industry experience, Karen Rzeszutko will lead the inland and ocean marine underwriting teams.

Dual’s crisis management team joined from Swiss Re in July 2021.

Scor has appointed Vanessa Contreras, its deputy team leader for professional lines, to Haynes’ old role overseeing all of US casualty.

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

Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.

Munich Re’s venture capital arm Munich Re Ventures has closed a $500mn Munich Re Fund II to invest in early-stage companies.

The ransomware surge is likely to lead to changes in the product, a shake-up in market share and challenges for MGAs.

Binding insurers include Chubb and AIG, with reinsurance from Munich Re.