July 2018/5
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Early reporters paint a picture of an orderly market in transition. -
Property cat reinsurance rate rises still lag behind those of primary insurance, executives said during Q2 conference calls.
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Bevis Tetlow moves to London after more than a decade in Bermuda.
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The Hartford, Travelers and Chubb were questioned about talc exposures this earnings season following a court ruling against Johnson & Johnson.
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Other similar types of platform in the Bermudian (re)insurer’s portfolio have also grown.
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Only 7 percent of those surveyed buy insurance for intellectual property litigation risk now but one-third would do so in the future, the broker found.
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The executive said insurers should not rely on the incoming Lloyd’s CEO to cut costs for them.
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The HMRC proposal would restrict VAT recoveries that are currently permitted for insurance services providers supplying carriers located outside the EU but serving UK clients.
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Legacy carriers are lining up resources ready for the mass sell-off of continental European liabilities but obstacles to transactions remain.
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AmTrust has huge outstanding underwriting liabilities, and by forming a partnership with Enstar it has brought the industry’s best manager of claims and commutations to the table.
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To date, the company is the only US carrier to miss consensus estimates for second quarter earnings.
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The world is full of people trying to be something they are not.
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