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The marine carrier reported a ‘benign’ P&I claims environment.
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The CEO said Scor is still on track to hit a full-year 87% combined ratio.
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A rundown of the main stories of the week.
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The executive said that the Corporation had received net exposure figures for the loss from all syndicates.
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Proposals will be put to the Lloyd’s Council over the coming weeks to take effect from 2025.
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The Lloyd’s chief of markets said he was generally comfortable with market fundamentals.
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The business will be supported by up to $200mn of Lloyd’s and London underwriting capacity.
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Previously, Simon Coles was a reinsurance broker at McGill and Partners.
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CFO John Dacey said the carrier had concluded it was not the “best owner” for iptiQ after a strategic review.
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The carrier reported rate increases of 5% across its P&C portfolio.
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The carrier also announced that Moses Ojeisekhoba, CEO of Global Clients and Solutions, has resigned.
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The timing of the incident could leave carriers running large net exposure for the remainder of the policy year.
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P&C re and CorSo reported improved net profits and combined ratios for the quarter.
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CEO Trevor Carvey described the market during Q1 as being a "very healthy environment”.
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The executive is to pursue “a different entrepreneurial path”, according to an internal memo.
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The ratings agency warns that wildfire is an increasingly risky and unpredictable peril.
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The carrier is confident of “clearly exceeding” its group net-income forecast of EUR1.7bn for the year.
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Current Bermuda CEO Chris Bonard will become president of the unit.
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Property and specialty led the carrier’s expansion, with growth in casualty more modest.
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Premium income was down due to lower volume in financial lines and alternative risk transfer.
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The carrier has ambitious growth plans for its rebranded Munich Re Specialty segment.
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The broker will sponsor a fellowship for a researcher working at the university.
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The underwriter will head up casualty reinsurance for the US and elsewhere.
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After an unexpected charge in Q4 last year, the carrier feels “very comfortable” with its reserving position.
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Jensten’s London market unit will report to the core broking trading division under Rob Organ.
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The updated framework from the Corporation provides less “scope creep”, said CUO Rachel Turk.
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At group level, Hannover Re's operating income grew by 15% to EUR558.1mn.
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Proving war-on-land coverage has been challenging, given the lack of reinsurance cover available.
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The carrier also confirmed the appointment of Ian Davidson as senior underwriter.
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John Silcock was CEO of entertainment broker Robertson Taylor.
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The news follows an announcement from the MGA last week that it has taken a Lloyd’s box.
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Polo MGA will provide services to both start-ups and established MGAs.
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Michael Yeats will now lead the automatic reinsurance facilities division in the US.
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The former R&Q head of legacy will join as an adviser.