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Pricing expectations are still not aligned on higher-risk coverage options. -
The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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Despite potential claims stretching into the billions, the events are not expected to shift the dial on pricing.
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Current head of specialty Paul Upton will move to become chairman of the division.
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Envelop Risk Solutions will provide technical assistance and advisory services.
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Reinsurers are tightening their grip on certain specialty lines to make sure they remain profitable, say senior executives participating in our virtual roundtable.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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Flooding from the remnants of Hurricane Debby has taken carriers by surprise.
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A hurricane watch is now in effect for the Louisiana coastline.
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The company is currently “underweight” in that line of business, he added.
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Improved profitability has led some insurers to increase their own retentions.
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Coalition Re to offer active cyber reinsurance via two products supported by Aspen-led capacity.
