Chubb
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Evan Greenberg addressed questions about property cat reinsurance on a Q1 earnings call. -
Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.
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Chris Collins will report into Simon Abbott in his new role, and will help the carrier expand its airline portfolio.
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The hire comes after the carrier recently appointed AGCS’ Chris Turberville to lead the hull team.
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New demand for reinsurance cover that was expected to come to the market around the January renewals is being reined in as insurers recognise the extent of the hardening market.
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Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.
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Analysts said attachment points are now far behind the rate of inflation over the period.
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Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.
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Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.
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Chubb has seen several exits from its marine team this year and restructured its leadership.
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The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.
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With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.
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