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As the Covid-19 crisis continues to deepen, this week signs of strain became increasingly evident in certain lines of business.
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Active underwriter says pricing, retro conditions and casualty crisis will play out in MAP 2791’s favour. -
The new bind feature enables markets to complete and bind Aon's treaty reinsurance placements without face-to-face meetings.
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The carrier has agreed to reinsure legacy business underwritten by Zurich from 1 October 2015 to 30 September 2018.
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Its first transaction in the Asian market leaves the run-off group with assets totalling $7.2bn.
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The initial estimate represents the third largest industry loss for an east coast low pressure event.
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Steve Bitar worked at Citizen for more than 16 years and joins the Floridian property insurer on 20 April.
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The majority of losses are thought to stem from the UK, Germany and Belgium.
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Covid-19 is not likely to make financial pressures for Florida insurers worse, he told Insurance Insider.
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Remedial actions start to bear fruit in primary property.
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The deal was one of a number of Florida insurer combinations proposed earlier in 2020.
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Insurance commissioner Lara says policyholder cover must remain in place through the pandemic.
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