Brokers

The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.

At Lockton Re, Cheney spent the last 18 months as senior broker and co-leader of its property practice.

European loss experience drove the firm’s index back in line with 2014 levels.

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

Madison Dearborn has increased its shareholding, while HPS has reinvested.

The BMS meteorologist said early data indicated “truly historic outbreak”, and that similar events typically cost the industry in the low-single digit billions of dollars.

1 January renewals are running late across the board as reinsurers hold out for improved terms, but the retro segment is the most challenged for capacity.

The target firm deals in engineering, energy, P&C and specie.

The partnership seeks to help response and recovery organisations manage the “entire lifecycle” of a catastrophe.

Insured losses from severe weather events in the US are on course to exceed $20bn, following the second highest October tornado tally on record, according to a report from Aon.

The broker said that weather-related losses had become more severe in the past decade because of climate change.

Lockton Re has hired James Boon from Aon to work as a senior broker in the expansive non-marine retrocession and property specialty division.