Marsh appoints UK cyber leader & more…Keep up with what has been happening this week in our latest insurance news round-up…

Marsh appoints UK cyber leader

Marsh has announced the appointment of Kelly Butler as UK cyber leader, effective October 2023. Based in London, Butler will report to Beth Thurston, CEO of UK Financial & Professional Lines (FINPRO).

AXA announces new decarbonisation targets and publishes its 2023 Climate & Biodiversity report

AXA is publishing its 2023 Climate & Biodiversity report and announces new decarbonisation targets for both its insurance and investment portfolios.

Motor insurers endure worst underwriting conditions in a decade

UK motor insurers suffered their worst underwriting performance in a decade last year as spiralling claims and other costs far exceeded premiums, with further losses expected in 2023 as providers struggle to recoup the expense of inflated payouts.

Insurers squeezed between two conflicting demands

Over the last few weeks, we have seen two sharply contradictory stories on risk management and climate change. In response to accusations from Republican politicians in the US that the UN’s Net Zero Alliance is anti-competitive, a growing number of insurance firms have pulled out of the initiative. At the same time, an industry expert in the UK recently warned insurance executives that they could be held individually liable if their firm fails to live up to promises about environmental, social and governance issues.

Fidelis Insurance valued at $1.5 billion in lukewarm market debut

Fidelis Insurance Holdings notched a valuation of $1.5 billion on Thursday after shares of the reinsurer fell 6.4% on debut.