Header
Your dedicated content hub
Fuel a smarter strategy with our actionable market intelligence
WR Berkley News
WR Berkley news from Insurance Insider
Lack of major cat events could add further pressure on 1 January pricing.
The executive has spent more than three decades in insurance.
Markel is prominent in the growing smart-follow market.
The shares will be purchased via the open market or private third-party transactions.
He spent most of his career at Talbot, bar a stint at Lloyd’s.
The firms say no “single aggregating event” caused the contingency losses.
Strong reinsurance results have absorbed long-tail reserve charges.
The syndicate is suing its reinsurers to cover Covid-19-related claims in California, Colorado, Florida, Illinois, Nevada, New York and the UK.
Speaking on the company's Q4 conference call, the executive said the market should not assume that WRB will become a heavy cat-exposed writer.
The CEO noted that the company can participate in the property cat reinsurance market three out of every 10 to 12 years, given its approach to that class.
WRB’s head of political lines Sundeep Daddar and PV underwriter Luke Bennett are to leave the company as a result of the exit.
The incoming senior property underwriter will be reunited with former MS Amlin colleague Dan Black.
Hastings will assume his new role at the end of February 2022.
Hiscox’s John Naughton is moving to WRB Underwriting to lead its London-based product recall team, and is expected to join in the new year, this publication understands.
The recruit will become president of the UK reinsurance operation, before moving to CEO by the end of the year.
Berkley has said it will offer 100% reinsurance protection for clients, or will happily share risk with cedants.
Chubb and CNA fell by 7 percent, while AIG closed the day down 10 percent.
Social inflation related to the pandemic will put added strain on insurers, the executive said during an earnings call.
Competitor news
Competitor news
Competitor news
-
The Marsh-placed account renews its all-risks cover on 16 November. -
Both the primary and reinsurance segments benefitted from a light cat year.
-
Beazley is one of the key leaders in the London marine marketplace.
-
Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
-
The carrier has been exploring launching into P&C organically or via acquisition.
-
Brian Church has spent 20 years at Chubb.
-
The carrier is planning a limited relaunch into the UK D&O market.
-
Tom Potter was global casualty underwriting manager for UK & Lloyd’s at Axa XL.
-
The pair hail from Dale Underwriting and Axa XL, respectively.
-
The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
-
He was appointed CUO of casualty, Americas, in July last year.
-
An M&A senior analyst and M&A underwriter for emerging markets are also set to depart.
-
One of the options being explored is setting up a dedicated company for the wholesale vertical.
-
The LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
-
Donna Swillman is currently a senior underwriter at Axa XL.
-
Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
-
This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
-
-
There has already been an influx of new capacity from MGAs into the power market.
-
The company has recently made several senior changes to its UK and Lloyd’s leadership.
-
AIG leads the all-risks cover and Axa XL is the hull war lead.
-
The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
-
The claim could add pressure to the hull war market after a recent High Court ruling.
-
The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.
-
In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.
-
The claim hits the downstream market following a loss-hit start to the year.
-
Jim Williamson said litigation funding had evolved into an investment class.
-
The executive replaces Mike Warwicker, who left the firm earlier this year.
-
Burford’s CEO said Chubb is inappropriately using its corporate power.
-
Philip Enan joins following 11 years at Chubb.
-
New capacity is fuelling competition for talent in the class of business.
-
Michael Brooks, SVP, head of transactional liability, will be taking over temporarily.
-
The programme will succeed the previous buyback launched in 2023.
-
The exec said if he were a carrier CEO, now is the time he would start looking for deals.
-
The carrier will focus on mid-market business outside of Lloyd’s.
-
The carrier reported a below-budget cat experience, despite the California wildfires.
-
At his last annual meeting as CEO, Buffett highlighted the importance of Berkshire’s insurance operations.
-
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
-
The primary and reinsurance unit CoRs were 103.1% and 98.7%, respectively.
-
AIG, HDI Global and others have settled. Chubb’s fight continues.
-
The facility provides up to $100mn in claims-made excess casualty coverage.
-
A positive outcome could significantly curb insurers’ exposure to the loss.
-
Louise Kidd joined BHSI in 2020 as head of third-party lines in Ireland.
-
The Paragon-owned coverholder is known as a specialist in film insurance.
-
Results were impacted by prior year reserving and an unwind of intragroup reinsurance recoveries.
-
Of the 178 passengers and crew on board, no serious injuries have been reported.
-
The carrier was seeking to expand its 1 March-renewing programme.
-
Earlier this week, we revealed that Louise Nevill was joining Axa XL as specialty CUO.
-
Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.
-
Nevill has extensive experience in underwriting at Talbot, WR Berkley and Markel.
-
Several underwriters left Hiscox’s property D&F team last year to join MGA Velocity.
-
The two Asian companies wrote $265mn net premiums in 2024.
-
Ana Robic will succeed Furby as EMEA regional president.
-
The reserve includes hull, liabilities and legal expenses.
Insider On Air: Our Webinars & Podcast Channel
Behind the Headlines Podcast
-
In Partnership with Moody'sJoin Insurance Insider for a free webinar, offered in partnership with Moody’s, at 10:30 EST/15:30 GMT on 22 January
-
How do struggling governments across the globe tackle stagnating economic growth?
-
In Partnership with Swiss ReThe global construction industry continues to expand, says Jimmy Keime, Head of Engineering and Nuclear, for Swiss Re.
From our other titles
From our other titles
From our other titles
From Insurance Insider ILS
Nephila’s Q3 ILS operating revenues up 21% YoY to $30.3mn
Operating revenues were also up on the $29.1mn reported over Q2.
From Insurance Insider ILS
RenaissanceRe AuM grows 7% to $7.5bn in Q3
Third-party investors made a net income of $415mn in the quarter.
From Insurance Insider US
‘We’re holding ourselves accountable’: CA insurance commissioner Lara
California’s insurance regulator has Fair Plan depopulation, cat models on his mind.
From Insurance Insider US
Claims frequency in physicians medmal starting to creep up: Doctors president
Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
From Insurance Insider
CNA Hardy names Booth head of specialty as Berman departs
Ariel Berman joined the company as head of specialty in 2023.
From Insurance Insider US
Ascendex launches with plans for 5-7 programs in two years
Altamont Capital MD Sam Gaynor said the goal is to have fewer programs that can each grow to a significant size.
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.