International Underwriting Association (IUA) News

London’s IUA Names Jones as Chief Executive, Succeeding Matcham

The International Underwriting Association (IUA), the group representing London companies that provide international and wholesale re/insurance, has named Chris Jones as chief executive, succeeding Dave Matcham. Jones will formally take up his responsibilities on May 1, 2025 in response to …

Renewable Energy Offers a Cost and Opportunity to Insurance Sector

Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of “devastating claims” in regions hit by natural catastrophes, industry sources say. Unpredictable weather …

Treaty Reinsurance Premiums in London Company Market Grew by 32% in 2023: IUA

Treaty reinsurance written in the London company market grew by almost one-third in 2023, with the sector generating premiums of £10.889 billion (US$14.2 billion), up from £8.248 billion ($10.8 billion) in 2022, according to the International Underwriting Association (IUA). The …

‘Urgent Need’ to Understand Single Points of Failure in Digital Supply Chains: Report

The rise of cyber risk accumulation events has highlighted the need for cyber insurers and reinsurers to understand single points of failure (SPoFs) within their customers’ digital supply chains, according to a new report published by the International Underwriting Association …

London Market Insurers Publish Guidelines for Marine Casualty Claims

New guidelines have been agreed by marine insurers in the London Market to help improve collaboration in the handling of shipping casualties. A protocol document seeks to promote more effective communication between different parties involved in responding to resulting insurance …

People Moves: Int’l Underwriting Assoc. Names LSM’s Hobbs as Chair, Succeeding Kuchinski; Howden Appoints Lehmann as Head of Climate Analytics

Phil Hobbs, president and managing director of Liberty Special Markets (LSM), has been elected as the new chair of the International Underwriting Association (IUA). He replaces Rob Kuchinski, head of Commercial Insurance at Zurich UK, who is retiring. Hobbs has …

Climate Risk Is Top London Market Challenge, IUA Survey Shows

The top challenge currently facing London market insurance companies is climate risk, a new survey by the International Underwriting Association (IUA) has revealed. In a survey of its members, the organization recorded 27% of respondents mentioning climate change and wider …

Lloyd’s, IUA Sign Contract With DXC to Help Build Fully Automated Processing

Lloyd’s confirmed a contract has been signed with DXC Technology and the International Underwriting Association (IUA) in an agreement that will build the solutions to digitalize, streamline and fully automate processing for the Lloyd’s and London market. Lloyd’s described the …

Lloyd’s, London Insurers Form Joint Venture with DXC to Transform Digital Processing

Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, aiming to transform digital capabilities and reduce processing costs for the London insurance markets. The joint venture intends to “deliver both world class technology …

Digital Transformation Vital to Keeping London Market Competitive: Survey

Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying processes to enable processing without manual intervention as their highest strategic …