December 2017/2

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.

Last week I was on the road chairing our second InsiderTech New York event. I then hopped over to Bermuda to chair a roundtable and attend the EY Global (Re)insurance Outlook.

Brokers and carriers have described the property direct and facultative (D&F) market as "schizophrenic" as parties struggle to find common ground on rate increases for 1 January.

Complications in accessing Puerto Rico following Hurricane Maria's landfall in September have meant that not even half of the expected insured claims have been notified, according to Charles Taylor Adjusting.

The reinsurance towers of Floridian homeowners' insurers have only been eroded by less than 15 percent following hurricanes Harvey and Irma, according to Keefe, Bruyette & Woods

Insurers and legacy carriers could see increased claims on old liability policies as a result of litigation from workers' exposure to diesel fumes.

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.

The UK trade credit insurance market has been hit by a series of claims in recent months, prompting discussions on potential rate increases.

Lloyd's new outlook is less a change in direction and more a change in tone. Performance management director Jon Hancock has made it clear he's still intent on safeguarding the Lloyd's Central Fund, but he's also making positive noises about allowing growth where it makes sense.

Global broker AJ Gallagher is seeking to stem the leakage of brokerage to other independent intermediaries by demanding that its brokers use in-house capabilities to help clients access the London market.

AJ Gallagher is attempting to cut out third party wholesalers in London. There are major rewards if AJ Gallagher can reduce the amount of brokerage that leaks from its retail network.

Liberty Specialty Markets' (LSM) decision to redomicile its UK insurance company to Luxembourg bodes well for other Brexit restructurings premised on transforming the core UK business into a branch.