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Fontana 2.0 will encompass a more flexible investment strategy than the 2022 vehicle. -
After a challenging period, the industry is now earning above its cost of capital.
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The executive said that outside of property cat, renewals will be “relatively stable”.
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The Caymans-based reinsurer’s Q3 CoR was 86.6%, down 9.3 points YoY.
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The Bermuda carrier brought a winding-up petition earlier in October.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The appointments are aimed at offering a clearer team structure.
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Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
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The two lines will add £11mn in planned premium.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Class actions and third-party litigation funding will drive up losses.
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In July, he took the role on interim basis from Laure Forgeron.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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The facility will initially focus on US, Bermudian and European business.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Inigo executives told Insurance Insider last year they were weighing up the casualty treaty market.
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The combined casualty treaty team has also made a number of hires.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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Sources said that the carrier has held preliminary talks with private debt investors.
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Being conservative and stable is the name of the reinsurer’s game.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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CEO Thierry Léger also stressed his intention to repair the carrier’s relations with Covea.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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The reinsurer’s new CEO said he sees no need for a radical shift in strategy.
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Rates will remain elevated in a period of structurally higher risk premia.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The ratings agency warned negative PYD on US casualty will likely continue.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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The Bermudian reiterated its pledge to improve performance.
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The CEO said the carrier will prioritise margin over top-line growth.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Laure Forgeron has worked at the Swiss carrier since 2009 in numerous senior positions.
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The changes affect operations in Switzerland, Bermuda and the US.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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The underwriter joined Catlin in 2006.
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The carrier booked EUR800mn in LA losses in the P&C segment.
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The firm expects to replace the volume with Innovations-channel business.
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Hamilton also expects rising demand and stable supply for 1 June renewals.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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The CUO described the pricing dynamics in the line as “strong and good”.
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The only major product line to see rate increases was casualty.
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The property segment experienced a 113.5-point impact from the California wildfires.
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The executive has managed both casualty and personal lines reinsurance books.
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The executive, Everest CEO from 1994 to 2013, has served as board chair since 1994.
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Instead, the reinsurer plans to write more casualty business through its innovations book.
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The carrier increased premium by 7% at the January renewals.
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The firm projects losses from the fires at between $160mn-$190mn.
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The broker added reinsurers remain cautious on US casualty risk.
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Mathieu Loisel joins the reinsurance broker from New Re.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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Concern over rate adequacy remains, but reinsurers are delving deeper into data rather than walking away.
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The agency’s outlook for global reinsurance remains at Positive.
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The additions included significant reserve bolstering for recent year portfolios 2021-2023.
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The market reacted to the $2.4bn charge in a positive light.
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The carrier has also completed a review of its L&H unit.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The broker said the casualty segment is approaching an “inflexion point”.
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Jack Gardner and Tom Kirwan remain in post at Ascot.
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Overall, insurance rates fell by 1%, led by competition in property.
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European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.
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Reinsurers will likely push for double-digit US premium rate increases.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
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Negotiations are getting tougher, but overall market capacity is stable.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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Renewals will depend on clients’ ability to differentiate themselves from broad-brush trends.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.
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The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
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Fears around social inflation have maintained upwards pressure on US liability reinsurance pricing.
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