Reinsurance

The initial $40bn-$85bn insured loss estimate put out by AIR Worldwide for Hurricane Maria was a key driver of post-event market dynamics as insurance-linked securities funds reloaded last autumn, according to panelists at the Insider US conference last week.

A welter of fresh legacy deals has provided further evidence that the "legacy moment" which started last year has continued into 2018.

Carriers in our global reinsurance composite showed diverging top line growth trends in 2017, with Swiss Re lowering its non-life P&C premium volume during the period while Hannover Re and Everest Re posted solid growth.

Global reinsurers' underwriting margins evaporated last year due to losses generated by the second-half natural catastrophes.

London property direct and facultative underwriters have voiced frustration at the direction of 1 April renewal discussions, as it becomes clear that rate increases on loss-free business will lag expectations.

The Insurance Council of Australia (ICA) has declared a catastrophe event for bushfires that swept through rural parts of New South Wales and Victoria states over the weekend.

QBE has approached the legacy market as it seeks to shed its troubled Hong Kong workers' compensation book, which holds an estimated HK$2bn ($255mn) in reserves, The Insurance Insider has learned.

Arch Capital has struck a legacy deal with Catalina that calls for it to transfer around $400mn of reserves to the run-off specialist, The Insurance Insider can reveal.

Brit has appointed Neil Walker to the role of head of UK property.

London open market property players may be surprised at Markel's decision to pull out of the sector, but maybe not that surprised.

Catastrophe modelling firms were taken to task by Mike Millette, managing partner of Hudson Structured Capital Management, after he criticised the broad range of estimates provided for Hurricanes Harvey, Irma and Maria.

The California Earthquake Authority obtained $700mn of additional new limit in its January reinsurance placement, according to recent agenda documents published on the organisation's website.