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The reinsurer plans to grow its US business at a higher rate than its non-US business. -
The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Improved performance and growing investment returns played a role in the upgrade.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The change in reinsurance intermediary follows an RFP for the account.
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The economic loss from the event was around EUR7.6bn.
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The move comes as the broker rebuilds its Bermuda team.
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Louis Tucker established and later sold Barbican Insurance to Arch in 2019.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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The business said it was experiencing strong momentum on the Island.
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Losses were primarily driven by personal property lines.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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The syndicate is targeting capital allocation for 1 January, the company confirmed.
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Cedants target methods of reducing pressure on earnings as reinsurers chase growth.
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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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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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CEO Thierry Léger also stressed his intention to repair the carrier’s relations with Covea.
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Stefan Golling also said Munich Re’s appetite for agg covers was unchanged.
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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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Paul Sandi, head of reinsurance, will serve as active underwriter for the new syndicate.
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Maintaining underwriting discipline was central to the Corporation's messaging.
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The executive most recently served as head of North American treaty reinsurance.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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The ratings agency warned negative PYD on US casualty will likely continue.
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Signs of discipline indicate a “break” from past boom/bust market cycles.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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The reinsurance veteran joined Aon nearly 20 years ago from Cooper Gay.
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Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
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The group claims the White House is undermining disaster preparedness.
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The Bermudian reiterated its pledge to improve performance.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The CEO said the carrier will prioritise margin over top-line growth.
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The carrier’s profit grew 34% for the year to A$1.35bn.
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The forecast has increased since the early July update due to several additional factors.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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California wildfires account for $40bn of the insured loss tally in H1.
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The French carrier’s first-half revenues were driven by 6% growth in P&C.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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US events accounted for more than 90% of global insured losses.
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Volante joins capacity providers Allianz and Tokio Marine Kiln.
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The weather-modelling agency is predicting a below-normal season.
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The changes affect operations in Switzerland, Bermuda and the US.
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The company said the reduction was due to years of steady improvements.
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The programme’s total limit this year is down $594mn to $1.36bn.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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This is up from last year’s $1bn protection for its Florida treaty.
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In April, the loss modeller pegged losses at A$2.57bn.
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The number has expanded by around 40% from an earlier update, sources said.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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This year is predicted to be an above-average season, like 2024.
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The $2.59bn renewal is up 45% from last year.
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The company also has $100mn for US hurricane events.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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Most of the losses are attributable to a supercell storm in Texas.
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A 20% increase in FHCF retention levels sent cedants to the private market.
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Lloyd’s maverick syndicate produces impressive results, but questions remain over succession.
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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As with 2024, pricing pressure has been most acute on top layers.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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The reinsurer’s CFO cited a 1.5% net price reduction year to date.
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Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
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The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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The new CEO said recent purchases were designed to protect earnings volatility.
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The carrier booked EUR800mn in LA losses in the P&C segment.
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Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
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The (re)insurer used alternative capital in the reinsurance coverage.
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The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
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Q1 adverse reserve development went down to $4.2mn from $5.4mn a year ago.
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Gallagher Re said rates had softened in 2025 versus the prior two years.
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Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
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The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
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The group reported “robust” growth in property reinsurance premium.
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Growing economic and population exposures are driving potentially larger insured losses.
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The California wildfires were the only “relevant event” for the period, the carrier said.
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The property segment experienced a 113.5-point impact from the California wildfires.
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SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
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Insured losses were the second highest on record for the first quarter.
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Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
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