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The Mexican state-owned oil company has been the source of several large energy claims.
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There is stiff competition in the renewables space as carriers look to establish positions in a growth market.
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Howden Tiger, which has been hiring aggressively from rivals, currently has only limited involvement in marine reinsurance.
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Price Forbes now houses Ardonagh Specialty’s energy operations, absorbing teams from Ed Broking, Besso and Bishopsgate.
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The BI loss is set to stretch into the hundreds of millions of dollars, with some anticipating a $500mn+ loss.
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Plus the latest executive moves and all the top news of the week.
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The carrier has been recruiting for the position following Steven Farr’s move to Tokio Marine HCC.
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Capacity and competition are limiting underwriters’ ability to continue pushing for double-digit rises.
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Emily Taylor joined Hiscox as a senior underwriter in 2020.
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Sean McGovern said the appointment was part of an “important strategic initiative” for the company.
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Both oil and gas and renewables insurers are at the sharp end of the insurance industry’s ESG journey.
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The executive passed away last week after suffering from motor neurone disease.