Hamilton Insurance Group
-
Mike Mulray joins from Everest, where he was EVP president of North America insurance. -
The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
-
Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
-
There has been significant talent displacement in the specialty reinsurance market.
-
The company has also promoted Alex Baker and Tim Duffin.
-
Robert Vetch joined the Lloyd’s business as CFO in 2019.
-
Hamilton also expects rising demand and stable supply for 1 June renewals.
-
Hamilton reported $150.5mn of net cat losses, partially offset by $9.2mn favourable prior year development.
-
The underwriter is taking on a role with Cipriani and Werner.
-
Sinead Cormican has served as deputy underwriter for the past four years.
-
The estimate is based on industry losses in the range of $35bn-$45bn.
-
Cat losses in the quarter totalled $49.1mn, net of reinsurance, of which $37.8mn was from Milton.
-
Aon is in hiring mode following the departure of several senior brokers to Howden Re.
-
The new offerings will be part of the specialty reinsurance portfolio.
-
Syndicate 1947 is understood to have served notice to Hamilton in recent weeks.
-
D&O and D&F are also facing increased competition, but property remains price adequate.
-
Hamilton reported a $30mn-$70mn net estimate for Hurricane Milton losses.
-
Albo cited rate increases, improved terms and conditions and line size management among cedants.
-
The Bermudian booked net favorable reserve development of $1.6mn.
-
The specialty treaty market is preparing to deal with the fallout from the Baltimore bridge disaster.
-
These cedants could offer the firm access to support their casualty and specialty lines as well.
-
The bridge collapse added 9.8 points to the consolidated quarterly CoR.
-
The ratings agency flagged the “increasingly favourable” underwriting results.
-
The executive is replacing Chad Cundliffe, who is retiring from the company.
