All casualty reinsurance articles
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Ratings maintained after reserve strengthening at Everest
Reserve additions for US casualty business adding up to $1.7bn for Everest Group did not change its credit ratings for AM Best.
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Regulatory proceedings ‘dominate’ European D&O claims – Alta Signa
Bankruptcy litigation followed regulatory action as the leading cause of European D&O claims, according to the Continental European focused specialty MGA.
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Lockton Re adds two senior casualty brokers in London
Daniel Moruzzi and Matthew Cope have both joined the reinsurance broker’s international P&C division in London as senior brokers.
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Howden at 1/1 heralds new phase in the cycle ‘past the pricing peak’
Risk-adjusted price reductions at January renewals included retrocession down 13.5%, D&F down 12.5%, global property cat down 8% and London market casualty XoL down 2%.
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Gallagher Re at 1/1: ‘tense’ casualty negotiations put onus on data; prop cat competition ‘responsible’
The reinsurance market is in a strong financial position at the 1/1 renewal, according to the reinsurance broker’s “1st View Report: Differentiation Rewarded” and an interview with Gallagher Re’s Chirag Shah.
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Guy Carpenter on 1/1: ‘strong reinsurer appetite, excess prop cat capacity’
Non-loss-impacted property catastrophe renewals fell 5-15% risk-adjusted at 1/1, the broker said, but casualty reinsurance buyers experienced ”varying outcomes”.
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Swiss Re strengthens US liability reserves by $2.4bn
The reinsurer made its “ad hoc announcement”, saying it would miss its combined ratio target for the year as a result, with third quarter net income of $0.1bn.
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‘Inflection point’ reached in US casualty reserving – Lockton Re
Reinsurance broker’s paper highlights potential end to material adverse development in casualty lines for calendar year 2025.
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US casualty: Reinsurance is part of the problem – Munich Re
Reinsurers should ’stop fooling themselves’ about rate improvements in US casualty business, when this is being more than cancelled out by higher claims activity, Munich Re warned at its RVS 2024 briefing.
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‘No signs of social inflation abating’ – Swiss Re
Drivers include societal trends, changing behavioural norms, greater use of the legal system, and “rapid growth in settlement awards”, says reinsurer’s chief economist, speaking at RVS 2024 in Monte Carlo.
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The state of the market – SCOR Global P&C’s Conoscente
North American casualty risks loom large, as do European secondary perils, despite a picture of price adequacy on US peak risks, warned the chief executive of SCOR’s property and casualty (P&C) reinsurance business.
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A new phase in the cycle begins – Howden Re’s Flandro
After a Goldilocks period for reinsurers, a new stage in the cycle is starting to take shape, with signs including lower interest rates and their effects on bond portfolios, David Flandro, Howden Re’s head of industry analysis and strategic advisory, told GR.
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Howden Re pre Monte report focuses on innovation
Rapidly changing nat cat, political violence and casualty re/insurance situations mean point to a greater need for collaborative innovation, reinsurance broker Howden Re said.