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The European cat market is hardening faster than expected but the process is being delayed by ongoing negotiations over retro protection and varying lists of reinsurer demands to improve terms. -
Carriers and brokers in particular will start to change key processes next year as the market adopts foundational elements of the Blueprint Two programme.
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In a review of financial services firms’ D&I policies that highlighted shortcomings, the regulator said policies need to be holistic, and not generic.
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Specialty reinsurance is facing a similarly fraught and last-minute renewal as that seen in property cat.
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After an annual update from Lloyd’s CEO John Neal on the progress of Blueprint Two, Insurance Insider delves into the delays and what was actually delivered.
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In last year’s survey, only second-quartile syndicates reported aggregate year-on-year growth of more than 10%.
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The risk is increasing of some cedants ‘running naked’ in early January as the market faces a ‘horrendous bottleneck’ of negotiation ahead.
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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.
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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.
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Panellists at the London Market Conference called on the industry to work together to improve recruitment, the experience of staff, and its own image.
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Initial loss estimates for the last quarter show lower hits to equity than observed after hurricanes Harvey, Irma and Maria five years ago.
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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.
