The increasing frequency of $1bn-plus deals has led to discussion in legacy circles on whether there is a viable case for legacy deal syndication.

Eight syndicates including newer vehicles from CFC and others, as well as mature vehicles from Everest Re and Lancashire, have so far reported increases in stamp capacity of 50% or more.

Panellists at the London Market Conference called on the industry to work together to improve recruitment, the experience of staff, and its own image.

Initial loss estimates for the last quarter show lower hits to equity than observed after hurricanes Harvey, Irma and Maria five years ago.

The French reinsurer’s Q3 update details its extensive remedial efforts – but with the impact yet to be felt, it is still vulnerable to takeover.

The aviation market took what is believed to be its largest-ever loss recently and court actions over Ukraine claims are ongoing, all contributing to a hard war market as all-risk renewals remain softer.

Some multi-national cedants are using US addresses to source cover from US carriers, risking issues in the event of claims, amid a desperation for growth on both sides of the Atlantic.

The hurricane could prove a key test of the London market’s efforts to reduce catastrophe exposure, but will local carriers be able to lean into the hardening market?

Inflation, heightened cat activity and years of poor reinsurance returns are fuelling demands for wholesale change in the European market.

Many policyholders are likely to receive larger payouts following the judgement, but a worst-case scenario has been averted.

Cedants may find past behaviour coming back to haunt them, while brokers should be preparing in depth to achieve simplicity.

Reinsurers are demanding price increases and higher retentions as brokers warn cedants to be ‘realistic’.

Plus the latest executive moves and all the top stories of the week.

In a canvass of London market professionals, most placed their “gut feel” industry loss estimate for Hurricane Ian at $40bn-$50bn.

With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.

The latest statistics from the IUA show that the Lloyd’s market perhaps has not conceded as much ground as initially thought.

Sister title Trading Risk ran some scenarios applying market share figures and loss ranges to paint a picture of how the quantum of trapped capital could evolve.

In 2022, the NFIP placed reinsurance with 28 private companies - including 13 Lloyd’s syndicates.

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.

Research by sister title Inside P&C shows the top three homeowners carrier exposures by county for forecast highest impact areas.

Inflation and reinsurance costs are among the key challenges that marine underwriters face.

Cat 4 Hurricane Charley made landfall on Florida’s west coast in 2004, while Tarpon Springs (1921) was the last major storm to hit Tampa.

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.