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YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred. -
APAC now represents roughly 15% of all Lloyd’s premium.
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Widespread underinsurance and low exposures will limit losses.
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Citi and Berenberg believe the carrier is more resilient than in the past.
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The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
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The Bermuda carrier brought a winding-up petition earlier in October.
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CEO Greg Case said data centre demand could generate over $10bn in new premium volume in 2026.
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The Spanish (re)insurer reported a group net profit of EUR829mn.
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Prices were 37.4p per £1 of capacity, according to Argenta.
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The broker grew earnings per share by 12.1% during the quarter.
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The syndicate is expected to write ~$300mn of business in 2026.
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Opportunities for profitable growth in cat will be hard to predict, the executive said.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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Everest’s AIG deal meaningfully cuts its primary exposure.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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The property segment reported a combined ratio of 15.5% for the quarter, versus 60.3% a year ago.
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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 buy-in can be seen as a “flip” bet on a rebound in appetite for carrier M&A.
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This publication revealed the move earlier this year.
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Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer.
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The appointments are aimed at offering a clearer team structure.
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Sources said he will join the reinsurance brokerage next year, after his garden leave expires.
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Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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The hire follows the departure of David Martin to GIC Re Syndicate.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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The two lines will add £11mn in planned premium.
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The protection covers the US insurance book for the 2024 and prior accident years.
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The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
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IGI’s premium income has almost doubled since it listed in 2020, but how can growth still be achieved in a soft market?
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Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Rachel Webber was most recently head of non-marine at TransRe.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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Class actions and third-party litigation funding will drive up losses.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Plus, the latest people moves and all the top news of the week.
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The reinsurer plans to grow its US business at a higher rate than its non-US business.
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Carriers are rethinking the traditional renewal-rights model.
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Without flexible mechanisms the Corporation risks suppressing transactions.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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In July, he took the role on interim basis from Laure Forgeron.
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The recruits will join from Nephila, Aon and Malaysian Re.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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It comes as the MGA expects to write more than $1bn of premium in 2026.
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The carrier will pay special dividends only in exceptional circumstances.
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Joel Hodges will run the international business as managing director.
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Volante launched Syndicate 1699 in 2021.
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Improved performance and growing investment returns played a role in the upgrade.
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Inigo CEO Richard Watson said the team is ready for its “second album”.
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What’s driving the wave of shifting ownership structures in the Lloyd’s market?
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The executive has worked at Aon for almost two decades.
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The facility will initially focus on US, Bermudian and European business.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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Continental composite carriers aim to smooth volatility with new initiatives.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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Several airlines are understood to have come to market early.
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Legacy reinsurance deals will be reviewed by the Legacy Review Panel.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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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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The Corporation’s chair reiterated its aim to reduce the cost of doing business.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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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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The low degree of overlap between the combining portfolios benefits both parties.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Plus, the latest people moves and all the top news of the week.
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Louis Tucker helped establish Barbican Insurance, which was later sold to Arch in 2019.
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How does Lloyd’s plan to secure its future as a leading global marketplace?
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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Inigo executives told Insurance Insider last year they were weighing up the casualty treaty market.
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The deal marks the latest step in Catalina’s shift from P&C to life run-off.
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The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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The combined casualty treaty team has also made a number of hires.
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The sidecar will support five programs providing specialty frequency coverages.
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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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The practice group will enhance the company’s existing offerings in E&S.
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Losses were primarily driven by personal property lines.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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The new recruit will report to group CUO Ian Houston.
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Nick Fallon is the latest in a string of retro-broker moves in the market.
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The carrier’s US and Europe claims teams will report to Clayden.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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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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Climate risk challenges conventional underwriting wisdom but also brings new opportunities.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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Cedants target methods of reducing pressure on earnings as reinsurers chase growth.
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Bill Bouvier has spent more than three years at the legacy firm in this role.
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The syndicate will be targeting approximately $50mn of GWP in its first year.
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Sources said that the carrier has held preliminary talks with private debt investors.
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Scale is increasingly becoming a differentiator for reinsurance carriers, the broker noted.
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Geopolitical turbulence brings new challenges that primary specialty lines carriers urgently need to address.
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Being conservative and stable is the name of the reinsurer’s game.
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Apollo most recently received in-principle approval for Syndicate 1972.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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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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The sector recorded total premiums written in London of £11.9bn in 2024
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The insurer’s plans for the syndicate were revealed by this publication earlier this year.
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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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Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
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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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The company, however, sets a high bar on making a move.
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Hannover Re Capital Partners is in talks with two investors for 1 January launch.
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The pair were offered contracts by Willis Re in July.
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The former Hannover Re CEO said reinsurers must use alternative capital and tech.
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Earnings covers do not need to equal aggregate reinsurance deals, the broker said.
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Reinsurers are ready to draw a line under a worsening claim outlook across the casualty market.
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The carrier M&A cycle has started and reinsurance is a segment where acquisitions work better.
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Anticipation, motivation and inspiration are central to effective implementation.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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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 is moving all its non-cat business to the new syndicate, leaving 1910 focussed on peak cat.
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Swiss Re forecasts more risk transferring to reinsurance and retro markets in the future.
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Rafael Diaz, Tiara Elward and Felipe Murcia will join BMS’s LatAm and Caribbean unit.
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The post-disaster reinsurance start-up model is changing.
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Excess capacity will sustain softer rates, as organic growth challenges lead to more M&A chatter.
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Reinsurance CEO Wakefield said reinsurance structures may evolve for prolonged growth.
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Agency reactions ranged from Fitch revising down its sector outlook to AM Best keeping a positive outlook.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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The CEO said the AHJ acquisition brought a ‘step change’ to Miller’s reinsurance growth.
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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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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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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 California wildfires showed reinsurers can absorb major cats and remain profitable.
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What’s next for the reinsurance market as Monte Carlo approaches?
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It was announced this week that the business had agreed to be acquired by Skyward Specialty.
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The treaty underwriter is set to run an MGA within the group.
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Rachel Turk said product-line facilities had been “under-scrutinised”.
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Former Hannover Re CEO Jean-Jacques Henchoz received the Lifetime Achievement award.
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Lloyd’s reported reinsurance GWP increased 10.6% to £13.2mn.
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Syndicate 1440 was approved to assume business incepting January 2026.
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The executive most recently served as head of North American treaty reinsurance.
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The executive has worked at RFIB, Benfield and Guy Carpenter during his 30-year career.
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The executive said claims can be a differentiator in a softening market.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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Donna Swillman is currently a senior underwriter at Axa XL.
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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 deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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Strong CoRs and investment returns supported profitability in H1 2025.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Henrietta Butcher leaves Tysers after decades with the broker.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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James River said the court was right to dismiss the fraud case.
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Sources said the team is led by Martin Soto Quintus and is mostly based in Chile.
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The broker is in hiring mode in specialty after numerous brokers departed for Willis Re.
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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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The reinsurance veteran joined Aon nearly 20 years ago from Cooper Gay.
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The executive will buy reinsurance for HDI and Talanx’s corporate unit.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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Last year marked the second consecutive year in which carriers made a positive return.
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The ILS play will make the business more capital efficient under new owner Sixth Street.
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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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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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The mid-year renewals point to mounting pressure on reinsurance pricing.
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The deal was announced last month.
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Candy Wong spent 30 years at Aon Re China before a stint at Guy Carpenter.
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Top line grew across all carriers even as pre-tax profits dipped.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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The CEO said the carrier will prioritise margin over top-line growth.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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Covea had requested a stay in the proceedings.
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The overseas division booked a combined ratio of 94% for the quarter.
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The P&C division booked a combined ratio of 81.1% for the first half of 2025.
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The London carrier missed consensus on gross and net premiums for H1.
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The carrier’s profit grew 34% for the year to A$1.35bn.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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The Lloyd’s carrier is expected to try to claim multiple times under the policy.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The reinsurer chair said the frequency of losses today “will prevent prices from slipping too much.
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The P&C re segment’s combined ratio improved by 12.7 points to 61.0%.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The carrier reported an increase of 82% in pre-tax income.
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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 carrier said most lines remained well priced despite increased competition.
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Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.
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The executive has spent more than three decades in insurance.
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The carrier also benefitted from favourable reserve development in property and A&H.
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Cat portfolios generally grew, but casualty approaches varied.
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The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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Plus, the latest people moves and all the top news of the week.
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The transaction is expected to have a price-to-earnings multiple of 11x.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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The French carrier’s first-half revenues were driven by 6% growth in P&C.
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A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
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The Miami-based executive assumes the role left vacant by April McLaughlin.
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Q2 saw a steady stream of activity in legacy, but volumes dipped slightly from Q1.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Everest booked $98mn of aviation losses related to the war, which contributed 2.5 points to the consolidated CoR.
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The CEO said business remains adequately priced in most classes.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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The carrier said market dynamics were shifting due to increased capacity.
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This brings the carrier’s total limit on the program to $1.8bn.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The facility was previously for commercial risk clients.
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The broker has recruited from its rival as it looks to launch Willis Re 2.0.
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The reduced fine reflected the PRA view that the breaches weren’t deliberate.
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The broker’s EPS beat consensus at $3.49 for the quarter.
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Wind season remains an important variable, but also might not change current dynamics significantly.
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Jill Beggs was most recently COO for reinsurance.
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The reinsurance unit’s combined ratio for the quarter was 94.2%.
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Improved book value, a healthy CoR and disciplined underwriting mark the CEO’s time at the helm.
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CFO Christoph Jurecka will succeed as management board chair.
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The agreement is the second service contract the group has taken on.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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Laure Forgeron has worked at the Swiss carrier since 2009 in numerous senior positions.
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The medical professional liability firm is targeting further healthcare opportunities.
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The broker said the appointments are designed to drive growth.
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John Neal was due to start at Aon as global reinsurance CEO in September.
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The US accounted for 92% of all global insured losses for the period.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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US events accounted for more than 90% of global insured losses.
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The company launched into the contingency market in the wake of the Covid-19 pandemic.
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Plus, the latest people moves and all the top news of the week.
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Andrew Creed has been promoted to group president in addition to his role as group CFO.
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Luke Tanzer is set to retire after 16 years at the helm of the run-off carrier.
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Volante joins capacity providers Allianz and Tokio Marine Kiln.
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Syndicate 1947 is gearing up to expand its marine reinsurance portfolio.
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The Cathal Carr-led carrier has been building its team since launching this year.
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The new roles will oversee property, specialty and credit.
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The business is one of the first to sell in this round of Lloyd’s M&A.
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Parent Aventum said co-CEO Paul Richards remains with the business.
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The weather-modelling agency is predicting a below-normal season.
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Arturo Pelaez will continue in his managing director role at Brookfield Asset Management.
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Bridges had been at QBE for 17 years.
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The claims specialist spent 30 years at Amlin before joining TFP.
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The former Hiscox Re & ILS specialty underwriter starts on 7 July.
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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The take-private deal was announced in July 2024.
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The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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The new chair said the market must adapt for 2030 and beyond.
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The changes affect operations in Switzerland, Bermuda and the US.
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Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
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The managing agency is offering 62p per £1 for 2026 YoA capacity.
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Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
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The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.
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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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The broker noted a “significant variation” in renewal outcomes.
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The measure could have landed insurers with extra tax on US business.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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R&Q Gamma’s outstanding liabilities predominantly relate to the UK P&I Club.
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The appointments are pending regulatory approval.
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Miller recently strengthened its reinsurance proposition with the acquisition of AHJ.
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The company has also promoted Alex Baker and Tim Duffin.
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The start-up has hired four people to join the division.
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This is up from last year’s $1bn protection for its Florida treaty.
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The reinsurance division booked 29% growth for the fiscal year to 30 April 2025.
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Phil Furlong has been made head of underwriting and oversight, a newly created role.
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Logue replaces Richard Barke, who is moving to a senior leadership role at Asta owner Davies.
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Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
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In April, the loss modeller pegged losses at A$2.57bn.
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The documents figure in a potential criminal case against a CCB employee.
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The Bermuda-based team is led by John Fletcher.
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Argo shelved the sale of its Bermudian insurance business in mid-2024.
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The broker is launching a reinsurance arm in partnership with Bain Capital.
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The reinsurer has also appointed Mehdi Benleulmi as global head of credit.
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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
-
The new Lloyd’s chief of market performance also outlined target growth areas.
-
The number has expanded by around 40% from an earlier update, sources said.
-
The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
-
William Soares moves from casualty and specialty CUO to president.
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The campaign will run throughout June.
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HCI secured three towers with $3.5bn in XoL coverage.
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Muñoz was also Aon Re chairman for the Latin American region.
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David Baldwin joins from EIRS where he was a senior reinsurance consultant.
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Chris Jones told this publication his plans for the first six months of his tenure.
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The driver of growth has shifted from rate to volume, as pricing increases tail off.
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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.
-
The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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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.
-
What’s next for Conduit Re’s strategy following a leadership shake-up?
-
A 20% increase in FHCF retention levels sent cedants to the private market.
-
Lloyd’s maverick syndicate produces impressive results, but questions remain over succession.
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The Peak Re subsidiary mainly writes US motor and casualty reinsurance.
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LA wildfire losses are impacting the 2024 years of account, Argenta noted.
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The change reflects the company’s growing profile within the MS&AD group.
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The executive will also continue as MD overseeing Caribbean fac.
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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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Spicer will transition to a global specialty executive chairman role.
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She will continue to work with the executive team on key projects and initiatives.
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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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The executive will take the global role alongside his existing US responsibilities.
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TMK formed its specialty reinsurance unit last year.
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The underwriter joined Catlin in 2006.
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Vincent Hermenier joined Hannover Re in 2004.
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As with 2024, pricing pressure has been most acute on top layers.
-
The reinsurer reported EUR2.1bn GWP for the year.
-
The company’s parent MS&AD reported group profit of 691bn yen for the year.
-
The carrier benefited from top-line growth and lower adverse PYD.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
-
The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
-
The reinsurer’s CFO cited a 1.5% net price reduction year to date.
-
Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
-
Competition is high in specialty reinsurance as new capacity enters the market.
-
Specialty reinsurance has experienced high competition for talent.
-
The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
-
Renewable retrospective solutions were a key point during the discussion.
-
The exec will lead key initiatives including Aon United, and work closely with NFP.
-
The new CEO said recent purchases were designed to protect earnings volatility.
-
The CEO said Ascot would deploy capital where it sees opportunities.
-
New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
-
Neil Eckert has been chair since the carrier was founded.
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The headcount at the start-up now stands at around 40.
-
The market has broadened its risk appetite and infrastructure over the years.
-
The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
-
The carrier booked EUR800mn in LA losses in the P&C segment.
-
The reinsurer's group operating income fell by 14% to EUR480.5mn.
-
Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
-
The firm expects to replace the volume with Innovations-channel business.
-
The (re)insurer used alternative capital in the reinsurance coverage.
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Hamilton also expects rising demand and stable supply for 1 June renewals.
