The chief executive officer of Lloyd’s, John Neal, is to leave the insurance marketplace this year to join Aon as global CEO of reinsurance and global chairman of climate solutions. During his six years at Lloyd’s, Neal led a reset in the strategic direction of the world’s largest insurance marketplace. He also set up Lloyd’s strategic agenda to deliver digital, operational and cultural change at the Leadenhall institution.

Commercial property insurer, FM has announced its acquisition of excess and surplus insurance provider Velocity Specialty Insurance Company. With the increasing frequency and severity of secondary perils and other emerging risks, businesses are seeking E&S coverage for risks that traditional insurance is less likely to cover.

McGill and Partners has launched a new AI-powered war risk reinsurance facility for commercial property in Ukraine. The new offering leverages Lloyd’s Lab insurtech, FortuneGuard’s technology to assess the likelihood of war damage and to support risk presentation, analysis and underwriting.

Charles Taylor has opened a new adjusting office focused on the natural resources sector in Rio de Janeiro, reflecting its growing presence in Latin America. The company’s Natural Resources Team, which offers tailored services for complex claims in the energy, mining and natural resource sectors, will be run by Manuel Tarantino.

American International Group has appointed Christopher Flatt, currently head of AIG North America Alternative Channels, as global chief underwriting officer. Prior to joining AIG in 2017, Flatt held a number of leadership roles at Marsh McLennan, where he worked for 15 years. Previously he served in senior underwriting positions at GE Capital and ITT Hartford, where he began his career.

Axa XL is funding research funding at the Institute for Science, Innovation and Society in partnership with the Smith School of Enterprise and Environment at the University of Oxford.
The 18-month project is aimed at understanding the private sector's approach to achieving net zero emissions in developing countries.