November 2016/1

Canterbury claims; Third Point investments; Markel buys marine PI MGA; Blenheim reunites Cathedral team; AmTrust buys workers' comp specialist; Flood Re CEO departs; Bell to lead AIG aviation; Willis management overhaul

The departure of Guy Carpenter Emea CEO Nick Frankland to Aon Benfield has placed the spotlight firmly on reinsurance brokers' continued efforts to lure senior talent away from their competitors.

US commercial auto business is still a "black eye" for the insurance industry, despite rising rates, CNA Financial CEO Thomas Motamed has said.

Shares in RLI, which opened the third quarter US P&C reporting season with an earnings miss, fell to their lowest level in more than a year last week as investors focused on unfavourable reserve developments and analysts cut their profit estimates for the carrier.

The reinsurance industry may at long last be close to an inflection point, but for the first time in a while the talk in bars at the annual Property Casualty Insurers Association of America (PCI) conference was not restricted merely to rates and broadening terms.

In overhauling the business, McGavick has come up with a finished product that looks a little more like the old XL than it does like legacy Catlin.

XL Catlin's revamp of its P&C operations will see around 50 staff leave, including a number of senior executives, The Insurance Insider understands.

AIG has surprised the market by indicating that it will drop its major energy quota share reinsurance deal, one of the biggest treaties in the space, at 1 January.

One of the differences between great companies and not-so-great ones is that the former always keep costs under control, while at lesser firms expenses are rarely properly managed, and can often come under severe pressure.

The Turkish Catastrophe Insurance Pool (TCIP) was able to secure rate reductions of just over 10 percent on a risk-adjusted basis as it consolidated layers on its core cat treaty, The Insurance Insider can reveal.

After enjoying its best three-year stretch of combined ratios since the early 1970s, there are early signs that the US P&C industry is heading towards a change as underwriting deteriorates and returns on equity (RoEs) trend down towards unsustainable levels.