All Hard market articles
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NewsCoalition launches ‘full-stack’ cyber insurer
A- rated carrier will target small businesses and brokers and is backed by Coalition’s Active Insurance platform
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Swiss Re’s three renewals takeaways
Capacity conundrums, late negotiations, rate increases and tighter wordings all came into play at 1 January
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Consilium launches facultative reinsurance offering
Simon Richardson has been appointed managing partner of the division and joins from Besso Re
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Arcadian Risk Capital and Aviva in multi-year property binder
The target portfolio will be worldwide industrial and commercial property, mostly written on an excess-of-loss basis
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Consilium names Paul Richards Co-CEO
He will lead the business as Co-CEO alongside James Baird who was appointed CEO in November
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Reinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
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Fema cuts NFIP reinsurance programme for 2023
Its reinsurance placement has halved to $500m, amid hardening rates and diminishing capacity
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2023 could mark return to cash-flow underwriting
US commercial insurance pricing rose by an average of 5.7% in 2022, but there rates are beginning to moderate
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Fidelis completes landmark MGU and balance sheet split
The Fidelis MGU is headed by Richard Brindle with Jonny Creagh-Coen head of strategic relationships
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1/1 ‘down to the wire’ with possible reputational consequences
Areas of most constraint were peak-zone US property cat and coverage for war and SRCC, finds Gallagher Re’s 1st View
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1 January confirms dislocated reinsurance and retro markets
Some US buyers failed to fill their programmes as Howden describes one of the ‘hardest reinsurance markets in living memory’
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1/1 renewal is the ‘most challenging’ sector has experienced - Guy Carp
There are still placements to complete as broker compares dislocated market to post-9/11 and KRW
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Florida reforms will offer relief to ‘dire situation’ - AM Best
New laws include the elimination of AoB. But reinsurance and ILS capacity will remain limited for some time
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Property rates set to soar 50% at 1/1 - Beazley
Beazley is ready to ‘step up’ at a time of market dislocation, says Treaty head Patrick Hartigan
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Climate change justifies 50% property cat rate hikes - EY
Cat events have cost UK re/insurers more than double over the past six years than the preceding decade
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Munich Re raises profit guidance for 2023
In its reinsurance business, the group is aiming for a profit of around €3.3 billion next year with a COR of 86%
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Descartes launches balance sheet insurer
Sébastien Piguet, Descartes Underwriting’s chief underwriting officer, will serve as CEO of Descartes Insurance
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Lloyd’s participants should “lean into” hard market - Tiernan
Market has “headroom” to grow its cat appetite and syndicates with ’capacity, capability and expertise’ should take advantage
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Special Report: Road to 1/1
It was straight to business this year as reinsurers, brokers and cedants entered one of the most challenging renewal seasons in years
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Mapfre Re boosts capacity to meet increased demand
Capital raise of €250m will help boost the reinsurer’s growth at a time of ’improved technical conditions’
