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Faraday to lead Aon’s Marlin facility

Aon has renewed its Marlin facility for 2020 with Faraday confirmed as its new leader in the Lloyd’s market.

Normandy refinery fire threatens $400mn loss

A December fire at Total’s oil refinery in Gonfreville-l’Orcher, Normandy, is set to be a $100mn property damage (PD) loss, with business interruption (BI) costs said to be heading towards $300mn.

RKH Specialty hires Marsh JLT Specialty duo

RKH Specialty has recruited upstream energy broking duo Peter Gibson and Peter Portman from Marsh JLT Specialty, according to sister publication The Insurance Insider.

Power market eyes Prepa quake claim

Insurers of the Puerto Rico Electric Power Authority (Prepa) are anticipating losses from damage to a power station and disruption to the island’s power systems following an earthquake on 7 January.

• Chile riot losses could reach $4bn
• Maloney joins Gallagher as construction head
• Pioneer mulls sale as teams depart
• Talbot CUO Skinner to retire
• Arch’s Carlos moves to Castel specialty role
• Gallagher completes Capsicum takeover

Analysis

Analysis: Political unrest

Ever since the Arab Spring, social media has played a growing role in driving political unrest

ANALYSIS: Space

Smaller, more numerous satellites, in-orbit servicing and the continuing appeal of space tourism are set to transform the space launch and in-orbit markets

ANALYSIS: Wildfire

With wildfire loss exposures exacerbated by urban development in vulnerable regions, the (re)insurance industry has a challenging task ahead to get a grip on the peril

ANALYSIS: Reinsurance market dynamics

The results of Aon’s recent reinsurance market survey suggest the challenging market conditions which drove rates to rock bottom are easing – but much more slowly than in the fac market

Country Profile

Market profile: France

Fac buying is buoyant in Europe’s second-largest insurance market. Pricing is volatile and capacity has run short, providing opportunities in 2020, says David Benyon

MARKET PROFILE: Sub-Saharan Africa

Sub-Saharan Africa represents a vast but mixed opportunity for reinsurers, requiring a combination of regulatory pragmatism and economic control to drive growth, says Sean Farrell

MARKET PROFILE: Malaysia

Malaysia is a tough market to crack, which has led some underwriters to retreat from the capital Kuala Lumpur and offshore hub Labuan to neighbouring Singapore. David Benyon reports

Sector Profile

Sector profile: Political violence

With expectations that protests in Chile could reach up to $2.5bn in insured losses for the all-risks market, property insurers are beginning to exclude SRCC clauses from their coverage

SECTOR PROFILE: Power and energy

Power and energy rates are beginning to rise as weather-related losses start to sting, finds Helen Yates

Personal Profile

Inside FAC Profile: Jeff Saper

Clients who may have forgotten the benefits of facultative solutions are becoming re-acquainted with the market’s depth of expertise and knowledge, says Jeff Saper

INSIDE FAC PROFILE: Beatrix Hartinger

With cedants taking a more strategic approach to buying reinsurance, fac reinsurance will play a more significant role in getting deals over the line, says Beatrix Hartinger

Fac Comment

It’s all kicking off

Changing fortunes

Pricing climate change

Back at the table