All News articles – Page 7
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NewsCasualty renewal stable despite reinsurer concerns – Aon
The broker reported many of its excess casualty clients saw an improvement in risk-adjusted margins, despite adverse litigation trends and loss development on US exposures written in soft market years.
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NewsProperty cat ROL down 6.6% globally at 1/1 – Guy Carpenter
The reinsurance broker released its rate-on-line indices for property catastrophe business at the 1 January reinsurance renewal, headlined by a US decrease of 6.2% and an overall fall of 6.6% globally.
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NewsHowden 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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NewsDavies appoints Button as deputy CEO
New deputy CEO was previously North American boss and M&A director; the insurance services firm also outlined a “Vision-2030” strategy.
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NewsNew MGA Volt Underwriting hires London market energy leader
Louis Scott joins the newly-formed managing general agent (MGA) from Travelers.
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NewsGallagher 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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NewsGuy 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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NewsMartin Reith to join Acrisure, Volante at Lloyd's
Re/insurance veteran Martin Reith joins as executive chairman of Volante, a Lloyd’s business with extensive MGA operations.
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NewsLockton Re launches Portfolio Solutions arm
Led by Jeff Fleming in New York, the reinsurance broker’s new unit will target ‘US programs and MGAs’.
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NewsICEYE to add wind risks to flood and wildfire focus; satellite constellation reaches 40
Synthetic-aperture radar satellites complements other technologies used to assess natural catastrophe damage, and ICEYE plans to use its growing satellite constellation to prevent flood damage when possible, as well as detect it.
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NewsGallagher appoints crisis management, financial lines CEOs
Paul Bassett and Simon Brookes become CEOs of their product segments in a reshuffle at the intermediary’s Gallagher Specialty arm.
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NewsClimate, technology and geopolitics lead 2025 risks – Beazley CEO
Three overarching key risk areas emerged from Beazley’s ‘Risk & Resilience Predictions for 2025’, the re/insurer’s CEO, Adrian Cox revealed.
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NewsGeneva Association releases cyber risk transfer progress report
A new paper from the industry body provides analysis about the challenges facing the cyber re/insurance market, through traditional underwriting and alternative risk transfer.
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NewsHowden Asia to appoint new CEO and chairman in 2025
Joining from Marsh McLennan, Rohan Bhappu will first serve as deputy CEO of Howden Asia, then becoming its CEO later next year, at which point current CEO Chye Huat Goh, becomes chairman of the broker’s Asia Pacific arm.
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NewsM&A claims surge and W&I market grows to record levels – HWF study
The use of warranty & indemnity insurance grew to record levels in the first half of 2024, according to a study by broker HWF Partners.
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NewsMapfre Re turns to cat bond market for the first time for retro cover
Spanish reinsurer has structured retrocessional protection through a catastrophe bond for the first time, to transfer US wind risk.
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NewsAon and EBRD launch €110m Ukraine war risk facility
The broker has partnered with MS Amlin and several Ukrainian insurers, along with several governments and the European Bank for Reconstruction and Development, to put together the war risk scheme for Ukraine, nearly three years after Russia’s full-scale invasion of the country.
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NewsChubb expands PVT with new Continental Europe, Middle East and North Africa team
New CEMENA team at the insurer is to be led by Becky Jarold, previously senior PV underwriter in Dubai.
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NewsEditor’s opinion-analysis: PV’s soft market has dodged a bullet; what will 2025 bring?
A $41m High Court case points to PV’s soft market traits despite the volatile geopolitical landscape, writes David Benyon, editor of GR.
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NewsStrong profits and capitalisation support Lloyd’s credit strength – Moody’s
Underwriting performance in the first half of 2024 at Lloyd’s was the market’s strongest in 17 years, the rating agency said, but casualty reserves are a potential weak spot.
