March 2018/3

The London market modernisation project is to more fairly distribute the costs of the Target Operating Model (Tom) programme, as it moves to a new funding settlement in 2019.

Analysts have welcomed Munich Re's move to improve the profitability of its traditional reinsurance business, which includes 900 planned job cuts.

Weather-related catastrophe exposures and potential claims on liability policies stemming from climate change pose significant risks to P&C (re)insurers, according to Moody's Investors Service.

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.

The value of securities class action settlements fell by 76 percent to nearly $1.5bn in 2017, the second-lowest level in the past decade, according to Cornerstone Research.

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

Lawmakers in Tallahassee have once again failed to tackle the assignment of benefits (AOB) crisis that reform advocates say is rapidly pushing up insurance rates and dragging down the Florida economy.

National Flood Insurance Program (NFIP) reform advocates say prospects are dimming rapidly for advancing legislation this year calling for significant changes in the taxpayer-subsidised carrier.

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.

The new credit risk transfer programme Arch is piloting with Freddie Mac aims to broaden the market rather than cannibalise the business of existing private mortgage insurers, according to Andrew Rippert, CEO of the carrier's global mortgage group.

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

Several Floridian insurers are looking to lower their reliance on the state-backed reinsurance fund in 2018, bringing a small amount of new demand into the market, sister publication Trading Risk reported.