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Willis has made a series of aviation hires both sides of the Atlantic in recent weeks.
TMK formed its specialty reinsurance unit last year.
M&S, which still faces disruption from the attacks, had coverage lead by Allianz.
The underwriter joined Catlin in 2006.
Markel International has also hired senior underwriter Keely Madden.
The executive will be global reinsurance CEO and climate solutions chair.
The Japanese carrier noted the impact of increasing natural disasters.
The company’s parent MS&AD reported group profit of 691bn yen for the year.
The carrier benefited from top-line growth and lower adverse PYD.
The syndicate-in-a-box is the first Lloyd’s syndicate to operate outside London.
Tornadoes have killed at least 32 people in three states.
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
The broker replaces Louise Nevill, who is joining Axa XL as CUO for specialty.
The reinsurer’s CFO cited a 1.5% net price reduction year to date.
The executive said the industry can continue to grow by embracing emerging threats.
Lloyd’s CUO said established broker facilities were “big enough”.
Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
Michael Brooks, SVP, head of transactional liability, will be taking over temporarily.
The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
The platform could help reduce claims-cash holding times by 10 weeks.
The company has settled, or is in the settlement stage, for 80% of the exposure.
The executive has spent 10 years in a range of roles at the Corporation.
Competition is high in specialty reinsurance as new capacity enters the market.
Specialty reinsurance has experienced high competition for talent.
The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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Sources said MarshBerry was retained earlier this year to run the sale. -
Are intermediaries facing tougher times as the broking supercycle winds down?
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Sources suggested that the multiple could be as low as the 13x range as valuations reset.
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Behind the Headlines Podcast
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In Partnership With AonAdam Podlaha, Head of Impact Forecasting for Aon, discusses the 2024 hurricane season's calm start, upcoming forecasts, and climate impacts.
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In Partnership With AonAon’s Reinsurance Solutions EMEA co-CEOs Tomas Novotny and Alfonso Valera discuss their collaborative leadership, market outlook for January 2025 renewals, and capital dynamics in the EMEA region.
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In Partnership With HiscoxKathleen Reardon shares outlook on reinsurance rates, capital trends, and Hiscox Re & ILS's strategy heading into the January 1st renewals.
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From Insurance Insider ILS
Swiss Re’s nat cat premium volumes flat in renewals year to date
The reinsurer had $2.8bn of natural catastrophe business up for renewal in the year so far.
From Insurance Insider ILS
Conduit Re will ‘invite’ third-party investors as it expands ILS over time
The reinsurer has already dipped into the cat bond market with its Stabilitas Re retro deals.
From Insurance Insider ILS
Florida rates likely to remain stable through 2025: HCI CEO
With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
From Insurance Insider ILS
Retro and ILS specialists Stubbings, Bailey leave McGill for Miller
The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
From Insurance Insider US
Casualty and property dynamics in a ‘unique’ cycle: Westfield’s Kuhn
Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.
From Insurance Insider US
‘We are an organic growth story’: Alliant CEO
Alliant is celebrating its 100th anniversary this year, and is the ‘furthest thing from a serial acquirer,’ Greg Zimmer, CEO, Alliant, said at RISKWORLD 2025.
Insurance Insider US provides robust insights, sharp analysis and exclusive news on the London and global (re)insurance markets.
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