Tangible evidence of downward pressure on ceding commissions is emerging in the US casualty and professional liability reinsurance market, following the placement of a number of deals leading up to the key 1 January renewals
FM Global has told its reinsurers that it does not expect Hurricane Maria claims in Puerto Rico to attach its main property cat excess-of-loss programme, The Insurance Insider can reveal.
The prospect of Pacific Gas and Electric burning through an estimated $850mn of liability cover will only add momentum to underwriters' push for 2018 rate hikes across the US casualty market.
Marsh has parted company with just under 200 personnel as part of what has been described as a “business-as-usual” fourth quarter expense saving measure, The Insurance Insider has learned.
