Chubb

Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.

Chris Collins will report into Simon Abbott in his new role, and will help the carrier expand its airline portfolio.

The hire comes after the carrier recently appointed AGCS’ Chris Turberville to lead the hull team.

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.

Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.

Analysts said attachment points are now far behind the rate of inflation over the period.

Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

Chubb has seen several exits from its marine team this year and restructured its leadership.

The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.

With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.

The appointment comes following the departure of Renette Pretorius, who is joining Berkshire Hathaway Specialty Insurance.