Top Section
AM Best upgrades Convex to A financial strength rating
The rating agency upgraded Convex following it reporting its first underwriting profit for 2022.
Latest News
QBE Re said it was investing in the business with the creation of three new roles.
The carrier has been recruiting for the position following Steven Farr’s move to Tokio Marine HCC.
The former Vibe CEO has also worked for Axis Capital and Ace.
Collectively, the claimants are seeking more than $17mn in damages over a range of allegations over fraud and false financial statements.
Opinion
Opinion
Downstream shows signs of deceleration as big limits renew at 1.6 and 1.7
Capacity and competition are limiting underwriters’ ability to continue pushing for double-digit rises.
Most Read
Analysis
The deal is the third scale-up buyout for the firm, highlighting the ongoing value of scale in the reinsurance segment.
Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.
Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
To stay relevant, intermediaries are being forced to scale up, broaden their suite of services and quantify their value.
More News
-
Stubbings confirms move to McGill and Partners
31 May 2023 -
Shipping losses fall by 65% over 10 years: AGCS
31 May 2023
Interviews
Interviews
Joe Gordon also reiterated plans to switch off PPL’s older Ebix Europe platform later this year, claiming some participants see friction with brokers “when it’s not there”.
The US retailer’s acquisition of the UK MGA and broking group will be mutually beneficial, according to executives.
The broker’s UK CEO said the current rating environment is ‘eminently supportable’ for London carriers.
The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.
Upcoming Events
From our other titles
From our other titles
From Inside P&C
NAIC statutory data reveals highest Q1 industry loss ratio in 20 years
Recently released statutory data shows the US P&C industry loss ratio touching the 65% mark, the highest level in two decades.
From Trading Risk
ILS capital at risk of squeeze in Florida as higher rates draw top-end competition
The reinsurer said in its Q4 earnings call that Argo’s takeover further diversifies its operations and adds a foundational piece to its expanding P&C activity in the US.
From Inside P&C
RenRe + Validus Re: Marrying another version of yourself
As ITC Vegas begins, the Inside P&C Research team explores the discussions needed among InsurTechs to address questions around capital, partnerships, and profitability prospects.
From Insider Engage
Latam Briefing: Renewable energy insurance in Brazil
Insurance brokers and M&A lawyers have reported ever more interest for representation & warranties insurance in Latin America in recent years.