Electricity supplier Edison's statement last week that it believes its facilities are being investigated as a possible cause of the ongoing Southern California wildfires has raised the possibility of another painful blow for casualty underwriters.
Firm order terms (FOTs) for two 1 January-renewing quota shares bought by Arch have gone out with lower ceding commissions, providing further evidence of a transitioning casualty reinsurance market, The Insurance Insider can reveal.
Florida’s state-backed insurer Citizens has budgeted for an 8 percent increase in its private risk-transfer costs for 2018 in anticipation of a hardening property cat market.
Ironshore’s main reinsurance buyer Andrew Archambault is set to leave the Liberty Mutual-owned carrier at the end of this year, The Insurance Insider can reveal.
Property cat reinsurers and brokers negotiating 1.1 renewals are reacting to a developing California wildfire situation that could disrupt specific placements and add upwards pressure to broader pricing dynamics.
Cincinnati Re has hired Bill Lazzaro from Hiscox Re as it continues to build out its management team and execute an allocated capital strategy that has delivered strong top-line growth over the last year, The Insurance Insider can reveal.
