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KCC updates Ian insured loss estimates to around $63bn
KCC previously issued a $32.5bn number in a private client advisory based on Ian's Tuesday track.
Latest News
RMS released event sets with a $12bn-$80bn range, while AIR put out an event set spanning $20bn-$64bn.
Speaking on a panel at Trading Risk New York, Montero said that the previous guidance was assuming a track closer to Tampa.
Lloyd’s has postponed milestones against work on specifications for a new digital gateway and the build of a proportional treaty system.
Josh Brekenfeld succeeds Patrick Mahon, who has been appointed head of group business for global accident and health.
Opinion
Opinion
Long reads
Long reads
Yesterday, we published a detailed examination of the barriers preventing women from reaching the executive committees of Lloyd’s managing agencies.
In the first part of a two-piece investigation, Insurance Insider explores the pernicious barriers to women reaching the executive committees of Lloyd’s managing agencies.
North American companies also pay executives more relative to company size than European rivals.
The median 2021 compensation of industry leaders in the US and Canada was $7.7mn, compared to $4.9mn in Europe.
Hurricane Ian: Bearishness builds
As it became clearer that the Fort Myers area was facing 150 mph winds, sources started to talk about loss estimates with a $30bn floor.
Most Read
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Ian to bring Cat 1 hurricane conditions to Carolina coast
30 September 2022 -
Period of uncertainty over for Tysers as AUB completes takeover
30 September 2022
Analysis
Inflation and reinsurance costs are among the key challenges that marine underwriters face.
Reinsurers are better positioned to face this storm from a financial point of view – to Florida state’s detriment – but how capital providers will react to a loss is the wildcard.
Inflation will define priorities such as a focus on safeguarding clauses and pricing transparency, as well as line of business challenges, for underwriters and actuaries in the year ahead.
This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.
More News
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The Week in 90 Seconds: Hurricane Ian; Blueprint Two; Oneok
30 September 2022 -
Munich Re Syndicate 457 to pull out of traditional oil and gas
30 September 2022 -
CoreLogic pegs insured Ian losses at $28bn-$47bn
30 September 2022
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Bernina Re appoints Haddrell as CUO, head of US and retro
29 September 2022 -
Allianz X acquires embedded InsurTech specialist Simplesurance
29 September 2022 -
Helios books £1.1mn loss for H1, more than doubles GWP
29 September 2022 -
Insurance Charities appoints Brekenfeld as chair
29 September 2022 -
AGCS appoints two AIG property underwriters
29 September 2022
Interviews
Interviews
The incoming CEO said growth areas would include the middle market, Asia, LatAm and MGAs.
The business has retained Evercore to advise on future funding options.
The firm's ethos will remain the same, but the bigger balance sheet may help it win clients and absorb volatility.
The carrier will “hold the line” on property exposure with its key renewal clients, the executive explained.
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