Russell Group unveils connected risk business resilience policy
‘We believe this is the future of global corporate (re)insurance,’ says managing director.
Coalition Re launched as capacity deal announced
‘We equip carriers with deeper insights into the cyber risk in their books,’ says head
Event loss sizing as the flood waters rise – Q&A with ICEYE
As climate change and shifts in land use drive an increase in flood events, Rupert Bidwell, ICEYE’s vice president, insurance solutions, explains how satellite data can help insurers size the impact of the event, manage capital and set reserves much more quickly and effectively.
Dive In: Embracing diversity and inclusion with the head of culture at Lloyd’s
The insurance industry historically could have done much better at diversity, inclusion, and reflecting the global markets it serves. Mark Lomas, head of culture at Lloyd’s, is working to correct that.
Cyber market faces demand problem, needs pre-emptive approach – Intangic founder and CEO
MGA Intangic is in its second year, backed by AXA XL, and provides a pre-emptive approach to underwriting cyber risks.
Reinsurers increasingly directly deploying capital into primary market - AM Best
‘It’s not an existential moment for the industry, but it does highlight that primary markets will question whether they’re getting value for money or sufficient coverage,’ says AM Best’s managing director for analytics.
New Lloyd’s syndicate ‘pivotal’ – Carbon Underwriting
Carbon Underwriting has a new syndicate at Lloyd’s. Questions answered by Rob Crocker, its active underwriter.
IGI expanding specialty treaty arm amid reinsurance market opportunities – Jabsheh
The re/insurer’s treaty business has doubled in size, particularly in London market specialty, according to IGI’s president and CEO, speaking to GR at RVS 2024 in Monte Carlo.
Hannover Re: ‘Continuing trend’ of hardening reinsurance terms
The reinsurer said that there was a ‘movement towards stabilisation generally’ at its RVS 2024 briefing in Monte Carlo.
Guy Carpenter issues Global Specialties 2024 market update
Report from the reinsurance broker includes non-marine, terrorism, marine and energy, construction and engineering, aviation and aerospace, trade credit, bond and political risk.
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.
Changes in terms ‘as or more important’ than pricing – AM Best
Indicators are moving in the right direction and showing the positive position the sector is in, said the rating agency’s director of global reinsurance, speaking at RVS 2024 in Monte Carlo.
Fitch sees stability in reinsurance market, updates sector outlook to neutral
The rating agency told the audience at RVS 2024 that it expected trends to ‘remain broadly stable’ for the next year
WPVT Rising: Q&A with Guy Carpenter’s Powell
War, political violence and terrorism questions answered by Jonathan Powell, managing director, non-marine specialty, Guy Carpenter.
‘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.
Aon renewals briefing emphasises shifting market dynamics
Led by Andy Marcell led a senior leadership panel to discuss global reinsurance market dynamics as the industry heads to the Monte Carlo RVS 2024.
Time to stand out - Gallagher Re’s Wakefield
Against the backdrop of the most dramatic re/insurance market we have seen, Gallagher Re’s CEO Tom Wakefield predicts a return to a true market of differentiation for upcoming 1/1 renewals.
GR Special Edition: Monte Carlo RVS 2024
This year’s annual print edition of Global Reinsurance for the Monte Carlo reinsurance Rendez-Vous de Septembre is packed with executive interviews, news and analysis and features on the latest trends facing international (re)insurance markets. The magazine, which will be on the stands at Monte Carlo, is FREE to download here.
Discipline holds after ‘all time high’ – Hiscox Re & ILS
Matthew Wilken, chief underwriting officer (CUO) of Hiscox Re & ILS thinks pricing discipline and fresh demand mean the reinsurance market is in “a good place” this summer. He is responsible for the reinsurance carriers’ book of more than $1bn gross premium.
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.
Ukraine war risk database in test phase, war risk pool efforts continue – Guy Carpenter
A Ukrainian war risk loss event database, developed by Guy Carpenter and Oliver Wyman with the Ukrainian government, is in its testing phase, Julian Enoizi revealed to GR.
London Bridge 2 has alternative capital pipeline up to $1bn - Lloyd’s CFO Keese
Lloyd’s of London’s flagship London Bridge 2 project for facilitating the flow of alternative capital into the market currently has between $500m and $1bn under negotiation, according to Lloyd’s chief financial officer Burkhard Keese.
Munich Re’s Winter predicts a hard market for casualty in 2024
The casualty reinsurance market is firming up, due to US legal trends and inflation, said Marcus Winter, president and CEO of North American P&C reinsurance at Munich Re.
PE “at home, evolving” within reinsurance capital raising - Ariel Re
There remains a home for private equity within Ariel Re’s capital raising efforts, said its head of international property reinsurance, Joel Willens.
Moody’s RMS developing point location data for simpler cat models
2024 is tipped to be the hottest year for 100 million years, with droughts and wildfires continuing to be a major threat, according to the cat modeller’s chief research officer.
Corporate demand “rocketing” – Argenta Private Capital
Brokers building their infrastructure, US regional insurers seeking global capital, and London Bridge 2 at Lloyd’s are sources of London market investment interest, according to Argenta Private Capital.
US property rates are justified and need to stay up – Everest’s Beggs
Higher catastrophe losses are a new normal, and the market turn is an overdue pricing adjustment, argues Everest’s Jill Beggs.
Charting Lockton Re’s journey into full spectrum broker
Keith Harrison, Lockton Re’s international CEO, joined the reinsurance broker from rival JLT Re in 2019. Fast-forward a few years and Lockton Re has organically grown into a different animal.
Aon’s Schultz on a record year for cat bonds, cyber ILS outlook, and ‘Bermuda-esque’ London Bridge 2
Bouncing back from a tough end to last year, 2023 will be a record year for the catastrophe bond market, according to Aon Securities CEO, Paul Schultz.
Green shoots have now taken root – S&P Global Ratings
‘We believe that the sector is now well equipped to earn its cost of capital,’ says director of insurance ratings.
‘Flight to quality’ provides confident outlook for 2024 – Hannover Re
‘Adequate pricing is a prerequisite for us to offer the best possible reinsurance capacity,’ says the reinsurer’s chief executive.
No clear price or definition for SRCC risks, warns MAPFRE RE
The Spanish reinsurer did not succeed in getting SRCC exclusions and restrictions it sought during July’s Latin American renewals, and wants to tighten terms for social unrest risks in 2024, MAPFRE RE’s CUO told GR at the Monte Carlo RVS.
Chedid Capital acquires Trilogy London market MGA
The MGA arm of Chedid has announced the acquisition of UK-based Trilogy Managing General Agents.
Underwriting discipline crucial – Munich Re
$100bn of annual insured losses in natural catastrophe is the new normal, says Munich Re board member.
Moving on up - GR’s annual RVS benchmarking survey
Hard market momentum continues as hurricane season gears up. Pricing is expected to rise, said the overwhelming majority of respondents to GR’s 2023 renewals survey.
ICEYE: A new level of situational awareness
Global Reinsurance spoke to ICEYE’s Andy Read about the critical role of hazard data in supporting public-private partnerships and how the satellite-data company is working with governments to improve disaster response.
Preparation key ahead of specialty lines renewals – Guy Carpenter analysis
Stability returned to the market at mid-year renewals for specialty reinsurers buyers, but firming rate pressures continue, terms are tight, and capacity at lower attachment points is limited.
London could be a $10bn ILS market in five years
Michael Wade, former crown representative for insurance, who pioneered London market ILS legislation, shares his hopes and expectations for the growth of capital markets risk transfer in London.
Lockton Re makes bid to separate first and third party cyber risks
The broker used a Monte Carlo briefing and cyber risk report to note a divergence of appetites between reinsurers comfortable with first party short tail risks and third party long tail risks.
Reinsurance capital levels showing signs of recovery across 2023 – Aon
Reinsurance firms have “produced pretty good results over the last nine months,” says Aon’s head of business intelligence, as they now hope to see out the remainder of the hurricane season without a major reinsurance market loss event.
Russell Group promotes exposure analysis across aviation, marine, energy, casualty scenarios
The data and analytics firm emphasised that corporate insureds are prone to more complex threats and connected scenarios in its Monte Carlo briefing.
Reinsurance sector undergoing ‘dynamic shift’ as it seeks opportunities in primary insurance – AM Best
Data provided by AM Best showed that re/insurer’s allocation of net premium written for primary insurance had jumped from 25% in 2018 to 38% in 2022.
New US cyber insurance loss index launched by PERILS, CyberAcuView
PERILS, the Zurich-based nat cat exposure and loss data provider, has partnered with CyberAcuView to provide an insurance database of cyber market loss data.
Non-life insurers’ profitability to lag behind cost of capital in 2023 – Swiss Re Sigma study
The elevated risk landscape calls for more frequent adjustments to underwriting practices, says Swiss Re’s P&C reinsurance chief underwriting officer.
Reinsurers holding firm, hard market pressure remains – Guy Carpenter
Reinsurance broker Guy Carpenter used its pre Monte Carlo briefing to underline the continuing hard market pressure on clients and their brokers.
A new era for SCOR - interview with Jean-Paul Conoscente
The hard market will continue into 2024, thinks SCOR’s Jean-Paul Conoscente, as the reinsurer embarks on a new management era, following the sad passing of its former chairman and CEO, Denis Kessler.
The most exciting market in my career – Guy Carpenter’s Carter
Pricing shocks, macro volatility and emerging risks in constant flux are making today’s re/insurance market at turns scary and exciting, thinks Vicky Carter, Guy Carpenter’s Chairman, Global Capital Solutions, International.
How are insurers preparing for another hard reinsurance renewal?
With 1 January 2023 renewals the most difficult in years, how are reinsurance buyers feeling about the prospect of another hard market renewal at 1/1?
China-Taiwan: “Astonishing” divergence of views across Lloyd’s
Political risk underwriters struggled to reach any consensus when asked by Lloyd’s to respond to a data collection exercise discussing conflict scenarios between China and Taiwan, GR can reveal. This article has been updated to include input from Lloyd’s.
MAPFRE RE focusing on stability amid market turn
Changing dynamics at renewals do not mean a major shift in the portfolio for Spanish reinsurer MAPFRE RE, which is focused on the stability of its long-term client relationships.
Reinsurance will stand up to Irma – JLT Re
While comparisons to Hurricane Andrew were made, JLT Re executives believe the industry will react better this time
Guy Carpenter's James Nash
Guy Carpenter’s James Nash discusses his firm’s reorganisation, the uptick in reinsurance purchasing and why insurers are playing catch-up
AIR estimates top industry insured losses of $40bn for US from Irma
AIR makes early predictions at Monte Carlo RVS 2017
UK regulators could prove a blocker for London’s ILS ambitions
Guy Carpenter’s Des Potter speaks to Global Reinsurance during Monte Carlo RVS 2017 season
Hamilton Re's Kathleen Reardon
The Hamilton boss thinks insurance needs to catch up to stay relevant
Cat bond concentration in Florida at risk with Irma looming
Experts outline the potential impact at RVS 2017
Reinsurers ‘living off the past’ with reserve development, says AM Best
AM Best sheds light on underlying negative trends in reinsurance at RVS 2017
(Re)insurers should intensify R&D to stay relevant, says Stephan Ruoff
For Monte Carlo RVS 2017, we ask Tokio Millennium Re chief executive Stephan Ruoff what is on the horizon for the (re)insurance industry in 2017 and beyond
Willis Re’s Andrew Newman, Mark Hvidsten and Andrew Johnston
Change is inevitable – and brokers are thought to be at the sharp end of it. But is this perception accurate? We ask three senior executives at Willis Re about the need to innovate and the challenges posed by insurtech
Q&A: Thomas Lillelund, on being Aspen Re chief executive
The new Aspen Re CEO speaks with Global Reinsurance about making a big splash in a crowded marketplace
Monte Carlo Archive 2016
At the forefront of disruption
Ahead of this year´s RVS, Willis Re gobal chief executive John Cavanagh talked to Global Reinsurance about the WTW merger, disruption and the need to be proactive
ILS: Opportunities for collaboration
Munich Re hosted its 8th ILS Roundtable at 2016 Monte Carlo RVS
Assumptions about shrinking market, ‘not wholly true’
Hannover Re chief Ulrich Wallin revealed growth plans at Monte Carlo breakfast briefing
GR Monte Carlo Daily - Day 3
Available in hard copy at Monte Carlo RVS, or online, read our daily to stay up to speed with the latest from Monte and insight into some of the industry’s hottest topics
Capital partnerships: the way forward
Axis Re Chief executive Jay Nichols talked to Global Reinsurance during this year´s RVS
AM Best holds its negative outlook for the reinsurance sector
AM Best experts held a briefing at the Monte Carlo RVS
GR Monte Carlo Daily - Day 2
Available in hard copy at Monte Carlo RVS, or online, read our daily to stay up to speed with the latest from Monte and insight into some of the industry’s hottest topics
John Berger: "Our investment model is easing pressure of soft rates"
Third Point Re’s chief executive talked to Global Reinsurance at this year´s RVS
GR Monte Carlo Daily - Day 1
Available in hard copy at Monte Carlo RVS, or online, read our daily to stay up to speed with the latest from Monte and insight into some of the industry’s hottest topics
GR Monte Carlo Special 2016
This special Monte Carlo RVS edition of Global Reinsurance includes: profiles with ex-Lloyd’s chairman Max Taylor and IGI chief executive Wasef Jabsheh; analysis on man-made earthquakes and big data; and interview with group Willis Towers Watson group chief executive John Haley; and our Monte Carlo Top 20 Cedants report
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