Munich Re
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The carrier’s Q1 P&C re combined ratio is around 75%.
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Hitesh Kotak has been appointed CEO for Japan, India, Korea and South East Asia.
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The syndicate posted a combined ratio of 84.6% and GWP of more than £1.2bn.
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Last summer’s hail loss has crept significantly for many Italian cedants.
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The carrier is partnering with Munich Re Syndicate and Tokio Marine HCC.
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Hard-won profitability has given carriers room to salt away reserves.
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Opportunities for profitable growth remain in 2024, the agency said.
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It also highlighted loss deterioration on its 2015-2018 casualty books.
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The carrier announced a capital repatriation plan of EUR3.5bn.
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The segment has bounced back from its mid-2022 nadir, but its current zenith is not that much to shout home about.
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The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
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The binder has a line size of $2mn and will enable the MGA to write international property risks in a number of international territories.
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The primary insurance subsidiary buys around EUR700mn of property cat protection from the wider market.
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Charlotte Macey started her career at CNA Hardy in 2008 and was most recently class manager for property D&F.
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CFO Christoph Jurecka said losses for 2023 were in line with its expectations, but he added that the events producing the losses differed from those of years previous.
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The (re)insurer also predicted its return on investment would improve “noticeably” next year, to more than 2.8%.
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Cat losses were within budgets despite high levels of minor events.
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The carrier reported EUR770mn of losses in Q3, and the Maui wildfires were the costliest event, with losses amounting to EUR200mn.
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The carrier reported major losses for the quarter of EUR770mn, a significant reduction on the EUR2.1bn reported in the same quarter last year.
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The carrier has raised its projection for the year to EUR4.5bn, up from EUR4bn.
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Executives said geopolitical uncertainty, economic stagnation, cyber, cat events and inflation will drive demand on the Continent.
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The incoming president succeeds Christian Lay, CEO at Marsh McLennan UK.
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Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.
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Executives said the cyber market would be “dead” if it does not control accumulations.
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AM Best said market hardening was likely to continue through 2024, given global market conditions.
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The ratings agency believes Munich Re will defend its “excellent” competitive position and conservative capital management over the next two years
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Swiss, Munich, Hannover and Scor all delivered optimistic messages on pricing for next year.
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The executive also lambasted the growing tide of corporate regulation in Germany and the EU.
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Flooding in Italy during the second quarter cost the German reinsurer around EUR200mn.
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The carrier announced the launch of the green solutions portfolio in May as it looks to become a market leader for sustainable risks.
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Lucas Beckmann has spent just over 15 years at Munich Re in several senior roles.
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The quota share cyber reinsurance market is finely poised, with good appetite for strong cyber writers, but reinsurers are cautious of new writers or fronted MGAs.
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After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.
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The executive first joined the group via Munich Reinsurance America.
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The ongoing debate raging in London on the nuances of cyber war wordings threatens to wreak more reputational damage on the industry if a consensus is not found.
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Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.
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A memo from the reinsurer raises concerns for cyber insurers over whether they could face a coverage gap after renewals.
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The reinsurer has cat capacity available at 1.6 and 1.7 where pricing meets its margin targets.
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The result was impacted partly by EUR600mn of losses caused by the earthquake in Turkey in February.
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The news follows months of speculation in the energy market about James Grainger’s plans after his resignation from Munich Re.
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The executive said surging demand for coverage would address the supply-demand mismatch in the renewables space.
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The business is looking to become a lead presence in green risks in London, following Syndicate 457’s exit from oil and gas business.
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Overall the group’s net result is likely to exceed consensus at EUR1.3bn.
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Ransomware will remain the primary loss driver in 2023 in terms of threats for businesses and individuals.
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The market veteran left Aegis London, where he was CEO from 2015, in June last year.
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Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
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Aviva has said it is committed to the Net-Zero Insurance Alliance, in the wake of withdrawals from the group by Zurich, Munich Re and Hannover Re.
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Hannover Re has followed Zurich and Munich Re in announcing its departure from the Net Zero Insurance Alliance, though it offered no explanation for its decision.
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Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.
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Industry climate alliances have received allegations from conservative politicians and regulators in the US that such commitments are illegal group activities that violate antitrust laws.
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Monica Tigleanu will be succeeded by Simone Hardy, who has been appointed senior underwriter, joining from The Channel Syndicate.
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The executive will stand for election at RenRe’s AGM in May.
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The longstanding Chaucer underwriter left when the carrier exited the FI market last year.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.
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Highlander has $300mn of insurance coverage, placed by Ed Broking and led by Munich Re Syndicate.
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The reinsurer’s retro programme was renewed at a smaller size for 2023.
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The P&C segment also booked 2.3% risk-adjusted price increases at the 1 January renewal.
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The shares will be bought back for a maximum total value of EUR1bn, following a proposed dividend announced by the firm for voting at its AGM.
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Michael Kerner, who joined Munich Re in 2018, has been appointed to lead the operation.
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The carrier is predicting its insurance revenues to reach around EUR58bn, while ROI will be at least 2.2%.
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The year 2005, which featured the devastating Hurricane Katrina, remains the most expensive storm season.
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Carriers reassured analysts that unrealised investment losses will not seriously affect solvency while sounding a bullish note on renewals.
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Personnel movement in the contingency market has been elevated following Covid-19 upheaval.
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The carrier has reduced its full-year projected consolidated result for reinsurance and expects a worse P&C combined ratio.
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The reinsurer said it will be “significantly more challenging” to hit EUR3.3bn 2022 profit target.
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Thomas Blunck has been appointed to succeed Torsten Jeworrek as chair of the board of management’s reinsurance committee, effective 1 January 2023.
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The reinsurer is working to find the right inflation indicators for individual client portfolios.
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Munich Re board member Thomas Blunck warned inflation will remain high in 2023, driving up loss costs.
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Overcapacity in upstream energy means the immediate impact of the move will be limited.
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The carrier will no longer invest or insure contracts and projects directly relating to new oil and gas fields, new midstream oil infrastructure and new oil-fired power plants.
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The syndicate will now pivot “in a very robust and determined fashion” into renewables and green tech, according to CUO Dominick Hoare.
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The underwriter is one of the most respected in the market and leads a substantial amount of Gulf of Mexico business.
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This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.
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Staff movement is high in the cargo space as carriers look to expand in an improved rate environment.
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In their messages at the Rendez-vous de Septembre, Munich Re, Hannover Re, Swiss Re and Scor signalled a ripe environment to hike prices and adjust terms.
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The German carrier telegraphed continued pricing discipline into 2023 as carriers grapple with reduced available capital.
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The move is the latest in a series of personnel changes in the construction space.
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Bernd Luckey’s appointment comes amid a number of senior moves within the construction market.
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Swiss Re, Munich Re, Hannover Re and Scor have set out their strategies on inflation, pricing and Ukraine.
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The carrier said pricing on property quota share, particularly in the US, was not keeping pace with inflation.
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The carrier reported EUR90mn of Ukraine losses for the second quarter, bringing the H1 total to EUR200mn.
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US severe thunderstorms caused insured losses of $17bn during the first half.
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The loss comes hard on the heels of a large BI claim stemming from the Freeport LNG refinery.
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Plus the latest company results, people moves and all the top news of the week.
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Ukraine uncertainties remain despite some loss estimates emerging in Q1 earnings across the Big Four European carriers, while inflation looms on the horizon.
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The carrier’s CFO emphasised that any future loss predictions from the ongoing conflict would be “highly speculative”.
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The unit recorded EUR100mn in Ukraine losses on specialty lines during the quarter, while the group suffered a heavy investment impact from the war.
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CEO Joachim Wenning highlighted exposure in specialty lines.
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The InsurTech also recently announced a partnership with Munich Re to launch an insurance product for digital-asset insurance.
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The carrier is also expected to book Q1 losses from recent European storms.
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The firm has previously said it will not renew existing contracts in Russia and Belarus, while new business in the countries has been suspended.
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The move comes in a period of heightened people-move activity in the construction and engineering class.
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The second of Insurance Insider’s deep-dive analysis pieces on innovation examines the internal structures and opportunities that can accelerate innovation.
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The first of a two-part series on innovation examines the barriers blocking product innovation in the P&C market.
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The reinsurer will make exceptions if the suspension of business negatively affects persons or companies that need protection.
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Earnings reports from Swiss Re, Munich Re and Scor have revealed increased cat budgets and highlighted continued shifts away from frequency coverage.
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The reinsurer said nat-cat business is one of its most profitable lines but emphasised that it will also chase growth in life and health and Ergo to reduce long-term volatility.
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Munich Re’s P&C re unit reported a Q4 consolidated result of EUR648mn ($735mn), a sixfold increase year on year, as the carrier announced 14.5% premium growth at the 1 January renewals.
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The carrier proposes to increase the dividend by EUR1.20 on last year’s payment.
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Dual’s crisis management team joined from Swiss Re in July 2021.
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The former Marsh broker was initially slated to join Lockton Re’s cyber reinsurance practice.
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It is understood that Ascent is currently in negotiations with a number of new potential lead markets.
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The new coverage marks the first time that sovereign debt repayments have been protected by a parametric catastrophe clause.
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Swiss Re, Munich Re, Hannover Re and Scor have set out divergent strategies on cat as volatility increases and the retro market seizes up.
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Executives said they were surprised that underwriters had staged more of a return than brokers.
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Munich Re CFO Christoph Jurecka reaffirmed the carrier’s commitment to cat business and revealed an expectation of further price increases in 2022.
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The reinsurer revised its full-year P&C CoR to 100% after third-quarter storms.
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Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.
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The sale represents a 4% stake in the UK motor insurer, according to Jefferies.
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Alan Norris’s colleague Ian Ritchie has joined Munich Re Syndicate after Talbot exited contingency following heavy pandemic losses.
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The preliminary result was achieved despite EUR600mn losses from Bernd damages, as well as EUR1.2bn losses from Hurricane Ida.
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The carrier also cited increasing continental cyber losses as a factor in continued market hardening.
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Munich Re’s venture capital arm Munich Re Ventures has closed a $500mn Munich Re Fund II to invest in early-stage companies.
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Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors.
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In his new role, Michael Cusition will report to David Sankey, head of Marine at Atrium.
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Munich Re board member Stefan Golling said he expected market discipline to continue and expressed optimism about the US casualty market.
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The intensity of recent cat activity in the US, Japan and Europe means the market is positive for reinsurers, the executive said.
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Despite some rate tapering, the two German reinsurers are expanding premium, as all four carriers enjoyed North American rate increases.
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The reinsurer said European property reinsurance rates may "catch up" with global rates in the wake of the disaster.
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The carrier benefited from a shrinking of large losses and strong investment returns.
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In a preliminary report, the reinsurer said its second-quarter net profit will come in ahead of a EUR808mn consensus.
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Plus the implications of the X-Press Pearl sinking and all the top news from this week.
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State-backed carrier GIC Re faces competition as the European Big Four press into the subcontinent.
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The SIAB has abandoned the project, with no other syndicates currently involved.
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Nicholas Hawkins, Chubb’s Peter Kelaher and Munich Re’s Scott Hawkins take director roles at the Australian industry organisation.
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Rate increases are tailing off, but the carriers’ reports reveal divergent growth strategies.
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The CFO also highlights a total EUR1.7bn Covid-19 related reserve charge for contingency and EUR1bn for BI.
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The carrier lifts premium by 17.1% at the April renewals.
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The outgoing co-founder has worked at the reinsurer since 2009 and will depart in several months' time.
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Primary unit Ergo was among the positive drivers that eclipsed above-average, Texas-storm-driven major losses within P&C re.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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Hannover Re has emerged as an outlier by reducing its overall 2020 dividend, but its growth plans may alleviate disappointment about the policy.
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The reinsurer says it is in discussion with clients and industry trade bodies on the issue.
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The product will initially be available in the US, with scope to expand internationally at a later date.
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Pressed for time? This selection of articles will bring you up to speed fast:
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The carrier is “very optimistic” on Japanese and US renewals this year, and outlined plans for growth in various lines and regions.
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Hannover Re and Fidelis provided significant capacity on the Munich Re-led programme.
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The venture plans to target auto cover before using M&A to expand into other lines.
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The carrier revealed 10.9% premium volume growth at 1.1.
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The move is a response to US sanctions which previously brought construction on the Russia to Europe project to a halt.
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The move is a response to US sanctions which previously brought construction on the Russia to Europe project to a halt.
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Michael Yeats will oversee the carrier’s reinsurance offices in Bogota, Buenos Aires, Miami and Sao Paulo.
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The reinsurer has around a 20% line on the broadcaster’s policy, with Willis Towers Watson acting as the broker.
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The Principles for Responsible Investment were launched in 2006, with Hannover Re, Liberty and Everest Re among other signatories.
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Typical cat loss events trigger XoL reinsurance recoveries. It is not certain that this will.
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The year was marked by record North Atlantic storms, which put the loss tally more than 40% ahead of mild 2019 experience.
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In its 2025 strategy, the carrier flagged “ample” opportunities in reinsurance and plans to expand in US specialty
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In five years’ time, the risk solutions unit will account for 30% of Munich Re’s P&C reinsurance portfolio.
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The leading reinsurer pledges to boost earnings per share by 5% annually within five years.
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Sandy Warne will report to former Lexington chief George Stratts at the Lloyd’s start-up.
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The German carrier pegs the full-year impact of the pandemic on its reinsurance operations at EUR3.4bn.
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Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The 1 January renewal will be a battle for the biggest slice of post-Covid upside.
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The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK.
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Hudzik is a thirty-year plus veteran of the (re)insurance market having also worked at Endurance, Zurich and AIG.
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“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
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The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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Global clients and Bermuda are also in the CUO’s purview as he replaces Peter Röder on the reinsurer’s management board.
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The US tech giant has participated in three rounds at the Indian start-up, which is valued at around $500mn.
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The two biggest reinsurers are said to be taking up a leadership role as the market starts to address the T&Cs challenge.
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Major reinsurance carriers like Munich Re, Hannover Re and MS Amlin are significant providers to some of the state's regional carriers, analysis suggests.
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The reinsurer’s CEO predicts two “very good years” as the rate environment improves.
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The reinsurer, like other carriers, is currently excluding the peril from events cancellation cover.
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CUO Golling calls for government-backed national pools with parametric triggers and mandatory coverage.
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The carrier will also take low triple-digit-million euro hit from Laura, Hanna and Isaias.
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The top 10 carriers continue to write the lion’s share of global premiums.
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First-half executive commentary also reveals Hannover Re is allocating capital for growth as Scor continues portfolio review.
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Move comes amid double-digit rate hardening in the US commercial auto market.
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The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.
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The carrier’s top team says price increases are now spilling over into loss-free lines and regions.
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Investors react after the carriers’ group earnings almost halve year on year.
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The carrier cancelled its share buy-back plan in order to reinvest capital into reinsurance growth.
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Six-month figures beat long-term average of $20bn with North American natural disasters driving the majority of the losses.
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The consortium plans to offer cover triggered by WHO public health emergency declaration.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
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Carrier will not publish profit target for 2020 after March withdrawal.
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Munich Re Syndicate has appointed Rob McAdams as its new head of marine, replacing Simon Parnell, who is retiring after 21 years at the company.
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The experienced underwriter replaces Simon Parnell, who is retiring after a long career at the firm.
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The German reinsurer’s performance “will decline” this year amid Covid-19 turmoil.
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The carrier says the response and recovery after events could be hampered by Covid-19.
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The Digital Partners CEO says funding struggles among small InsurTechs present acquisition opportunities for the carrier’s larger partners.
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The four continental European reinsurers expect Covid-19 to accelerate price momentum despite divergent approaches at 1.4.
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The CFO says there is too much uncertainty to make predictions on final insured loss figures.
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The carrier predicts a “financially manageable” impact from Covid-19.
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Most of a EUR973mn man-made loss bill emanated from contingency claims related to the pandemic.
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Natasha Jodrell succeeds Simon Parnell, who is retiring after 21 years at the syndicate.
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The CEO says mandatory retroactive BI payouts would be “incompatible with the principles of the rule of law”.
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Munich Re has also temporarily stopped underwriting Jetty policies.
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Lloyd’s first syndicate-in-a-box kicks off with parametric wind cover and a warranty aimed at backers of small solar farms.
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Hui Yun Boo was Ironshore’s Asia Pacific managing director and Singapore CEO.
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Concerns remain over BI lawsuits despite management reassurances.
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A share buyback scheme was also halted until further notice due to "great uncertainty".
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Swiss Re and Munich Re are both on risk for the $800mn Tokyo Olympics contingency policy.
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Marsh is now seeking new carriers to cover pandemics as demand for its PathogenRX product rises.
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Disparate attitudes between European reinsurers could temper aggressive rate increases at the key 1 April renewal.
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The biggest hit would come from the IOC’s $800mn event cancellation contract.
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Munich Re's move to pull back capacity to Hippo comes as reinsurers are looking more cautiously at InsurTechs.
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Reinsurance chief Jeworrek diverges from rivals, citing limited typhoon activity based on a 30-year view.
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Management board member Torsten Jeworrek puts the carrier’s exposure to the Tokyo Olympics in the “triple-digit millions”.
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The share price falls as the carrier falls short of Q4 forecasts.
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Large losses push the group fourth-quarter result below expectations.
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Estimates from Aon, Munich Re, Swiss Re and Willis Re put Typhoon Hagibis lower than the modelled average, with Typhoon Faxai in line with expectations.
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Bushfire losses mount, and as does the likelihood that other Lloyd's businesses will follow Neon into run-off.
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The insured loss total is more than one third down on the 2018 tally of $80bn.
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Leo Re sits alongside Munich Re's more broadly distributed Eden Re, which contributed $300mn in 2019.
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The broader retro market is renewing up by 10-30 percent depending on loss experience and structure.
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Three Lloyd’s syndicates have indicated they will close in the last month. They wrote $670mn combined in the last year disclosed.
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Ergo's Achim Kassow will replace the executive on the management board after he leaves for personal reasons.
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The MGA will initially write mid-market cyber and professional liability business.
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The executive will work alongside Diane Link, who joined Munich Re Specialty Insurance in April.
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The partnership, which offered a $100mn line size, will no longer accept new business.
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Jenny Yu, who was at the German reinsurer for nine years, will join the broker in January.
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Suramericana is facing at least $150mn in claims from civil unrest in Chile over the last six weeks, the company has confirmed.
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The new executive will oversee all of the group’s US financial operations.
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CEO John Neal said Munich Re’s SIAB will bring a “very different product set” into the market.
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The four European carriers have significantly outpaced Bermudian reinsurers in GWP growth so far this year.
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Speaking on an analyst call CFO Christoph Jurecka said that the reinsurer had been revising its US casualty books since 2017.
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Major loss expenditure soars from a year earlier, while the carrier predicts a large loss from Hagibis in Q4.
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Improvements in pricing are not enough to match the spike in loss costs.
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His comments came shortly before Munich Re raised the curtain on its latest $250mn investment, Next Insurance.
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The upbeat assessment comes despite "high major-loss expenditure".
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The Munich Re Syndicate group legal counsel passed away last week.
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The German reinsurer’s stance adds to evidence that certain energy assets are fast becoming uninsurable.
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The Bavarian carrier is slated to remain an investor in the InsurTech after the reinsurance change at 1.1.
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The executive moves from the role of regional leader of professional liability and cyber reinsurance.
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The executive left Canopius after its suprise retreat from London-based open market PI and FI business last year.
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Tokio Marine is likely to retain a significant portion of Pure’s $666mn of 2018 ceded premium net.
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The Series C round implies a “unicorn” valuation for the InsurTech of over $1bn.
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The head of underwriting development gives further detail on the launch to The Insurance Insider.
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Munich Re Innovation Syndicate will start underwriting on 1 January 2020.
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The Sompo and Munich Re-backed startup is planning to focus on business partnerships.
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The deal is Axa Liabilities Managers’ 20th run-off purchase.
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Broad cargo coverage is failing to match premium volume, Munich Re’s Sean Dalton said at Iumi’s conference.
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The Bermuda company will acquire run-off portfolios from the Australian branches of Great Lakes Insurance and HSB Engineering Insurance.
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The reinsurer predicts annual cyber market premium expansion of between 25 percent to 30 percent.
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Joanna Aquilina and Patrick Riecken join Gossmann & Cie as it prepares to launch its expiring policy roll-over product.
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Swiss Re leads the charge on US exposure as reinsurers prepare for North American hurricane season.
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The CFO attributes the 0.5 percent risk-adjusted rate rise to the diversity and size of its portfolio.
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A benign loss period and reserve releases pushed the combined ratio down more than 14 points.
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Insider Steven Chang will take on leadership of the reinsurer in Greater China.
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The software gives contract certainty from the instant a treaty is agreed.
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The expected EUR1bn earnings is more than 50% above the prevailing consensus.
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The Spanish insurer signs a memorandum of understanding to insure the multi-billion dollar project.
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Talks are underway between the Silicon Valley firm and venture investors over the next raise, at a valuation of over $1bn.
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The dispute centred on the interplay between facultative and treaty cover bought for Kensington properties by the Norwegian insurer.
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The protection, which is led by Liberty Specialty Markets, comes after the state pool's remit was extended earlier this year.
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The Philadelphia programme also has big lines from Munich Re and Scor.
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Aegis and Atrium also part of pilot group that will get 2020 business plan approval.
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The analysts predict difficulties in pushing the P&C reinsurance loss ratio below 52 percent.
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The arrangement will allow drivers to buy and amend insurance on an app, and reward them for safe driving.
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Protector and Munich Re are in arbitration in Norway over a claim relating to the 2017 fire which killed 72 people.
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The dispute relates to a portion of Protector’s claim for the fire that centres on an additional facultative cover.
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The global reinsurer took EUR267mn of Jebi losses in Q1.
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The partnership will allow the syndicate to expand further in to emerging markets in Asia.
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The Hiscox USA executive has joined Munich Re Specialty where he will serve as chief operating officer.
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The German reinsurer has a 49.96 percent share of the Global Aerospace pool, which is the lead underwriter on Boeing’s liability policy.
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Hannover and Scor wrote more P&C business last year but Swiss Re held back
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Munich Re-led programme wraps around £75mn terror cat bond.
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The Austrian carrier reserves the right to insure coal risks in exceptional cases in countries where the economy and employment depend on the sector.
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The injection takes the size of Allianz X’s fund to $1.1bn.
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The funding round for the commercial auto start-up was led by Munich Re Digital Partners.
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Panellists urge action on London expense ratios and digital innovation.
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The business changing hands wrote $117mn of premium in 2017.
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The cost of the claim fell after carriers took Black Friday discounts into account.
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Fourth-quarter net profit exceeds forecasts, while the full-year result comes in at the mid-point of the targeted range.
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New positions have been created which Munich Re America says will allow it to better serve its clients.
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Predecessor Tom Allen resigned to join Munich Re before Christmas.
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Shilpa Strong will be based in New York and report to executive vice president Mark Callahan.
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The loss could total more than a third of new premiums generated by the market in 2018.
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Like UK bakery chain Greggs’ feted vegan sausage roll, Swiss Re’s European parametric water-level cover helps plug a gaping market chasm.
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The costliest event was the California Camp Fire, which generated $12.5bn of insured losses.
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The reinsurer says the new role will improve the risk-return profile of its group investment portfolio.
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Reinsurers hit by a heavy cat year are unlikely to see significant rate rises as retro rates increase.
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The hotel chain has $350mn of cover in place and looks set to inflict the market’s largest-ever cyber claim.
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Beggs has been leading a team to bring multiple entities together to form the new commercial specialty insurance unit.
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Munich Re has been a long way ahead of its competitors in this game.
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The partnership follows previous deals between the start-up and Hiscox and QBE.
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If you are reading this from the UK or Europe, it is likely that your political attention the last few weeks has homed-in on certain rumblings in that peculiar part of central London where reality recently seems to have become a relative concept.
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The platform will be led by Mike Kerner, formerly of Everest Re.
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Tom Allen joined Channel in June 2016 to launch the cyber division.
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The Hong Kong insurance regulator marshals the sector to respond to the Chinese government’s infrastructure investment programme.
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Daljitt Barn follows recent arrival Paul Jardine onto the advisory board of the start-up.
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The reinsurer pegged global insured losses at $25bn, and overall cyclone losses at $51bn.
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