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New entrants to the line of business have heightened competition for talent.
The group reported an 89.7% combined ratio for the quarter.
Willis has made a series of aviation hires both sides of the Atlantic in recent weeks.
The executive will take the global role alongside his existing US responsibilities.
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 platform could help reduce claims-cash holding times by 10 weeks.
The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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.
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Financial news
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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 Swiss ReAs 1/1 renewal discussions kick off in Monte Carlo, casualty reinsurance markets face challenges including US social inflation and a range of emerging risks, said Laure Forgeron, chief underwriting officer, casualty, for Swiss Re.
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In Partnership With AspenAspen's Reinsurance CUO, John Welch, says the company is poised to continue to grow in 2025.
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In Partnership With Moody's RMSMichael Steel, General Manager-Insurance Solutions at Moody’s, discusses the latest trends in mitigating cyber risks, managing secondary perils, and leveraging new technologies to enhance data quality and workflow efficiencies.
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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.
Insurance Insider ILS provides robust insights, sharp analysis and exclusive news on the global insurance-linked securities market.