US specialty insurer IAT has agreed a deal to acquire the renewal rights to a $40mn book of surplus lines excess and umbrella business from State Auto subsidiary, Rockhill.
The initial $40bn-$85bn insured loss estimate put out by AIR Worldwide for Hurricane Maria was a key driver of post-event market dynamics as insurance-linked securities funds reloaded last autumn, according to panelists at the Insider US conference last week.
The new credit risk transfer programme Arch is piloting with Freddie Mac aims to broaden the market rather than cannibalise the business of existing private mortgage insurers, according to Andrew Rippert, CEO of the carrier's global mortgage group.
The (re)insurance industry is well-placed to take advantage of opportunities from growing exposures as a result of climate change, shifting demographics, automation and technological revolution, according to Ascot Reinsurance CEO John Berger.
The wave of largescale takeover deals in the property and casualty sector is motivated by a desire to create “diversified multiple capital platforms”, according to Ryan Specialty CEO Pat Ryan.
