Re/insurers

PE, more alignment and tech are uncoupling MGAs from traditional market swings.

The Japanese P&C carrier agreed a deal to buy 15% of WR Berkley shares in March.

All-risks premium increases are now understood to be in the 15% to 20% range.

Better data validation and stronger claims controls are also key for MGAs.

In mid-morning training, the share price had fallen by 12%.

Join senior market leaders for a forward-looking discussion on performance trends, pricing dynamics, M&A signals and risk appetite across both admitted and E&S segments.

Willis reports that the mining market has softened at a ‘considerable rate’ this year.

The peril has been historically difficult to model compared to others.

AI and precise data can enable insurers to innovate policy durations, from annual to transaction-specific, offering more tailored coverage options, said Christina Lucas, Global Market Leader, Insurance, Google Cloud, during an interview at the PwC Insurance Summit.

The sector also faces a potential $700mn loss from a fatal Indonesian mining catastrophe.

The underwriter joins from Beazley.

The latest guide is the first in a two-phase programme with a practical guide to follow.

Aspen's GWP increased 0.9% to $1.13bn, as it focuses on “robust cycle management”.

After outsized losses, the (re)insurer still sees opportunity in a softening market.

Panellists said recent M&A has not yet led to transformative change for the market.

Property growth plans are cooling, but favourable loss trends will increase surplus capacity.

Liès called for the industry to have a louder voice to promote greater insurance literacy across sectors.

The carrier attributed the results to a significant fall in major-loss expenditure.

The UK-based insurer’s Florida Re secured state regulatory approval in June.

An insurability crisis could pose systemic risks that undermine the foundations of finance.

Industry-wide initiatives continue to target expanded youth access to the sector.

The carrier anticipates a “favourable” retro renewal at 1.1.

The federation, FASE, aims to connect all participants to provide a voice for European MGAs.

Both the primary and reinsurance segments benefitted from a light cat year.

While attritional losses were up for the quarter, those in the carrier’s core business declined.

The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.

The company reported no cat losses but saw a jump in attritional losses.

CEO Brand said he expected to deliver double-digit growth, if “marginally” lower in 2026.

CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.

The fundraising structure for the deal includes a $600mn Convex debt raise.

The revised outlooks reflect the difficult moment as Everest moves away from retail.

In insurance, premium growth came from all lines of business except cyber.

Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.

AIG has agreed to pay Everest $10mn per month for nine months for transition services.

The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.

Consolidated NWP reduction was driven by the reinsurance segment, partly attributable to two transactions in Q3 2024.

The appointments are aimed at offering a clearer team structure.

AWS suffered a large-scale service disruption originating in northern Virginia.

The company noted tougher market conditions and higher large losses during the year.

The protection covers the US insurance book for the 2024 and prior accident years.

Brian Church has spent 20 years at Chubb.

The MGA is also looking to build out its US mid-market professional liability expertise.

Carriers are rethinking the traditional renewal-rights model.

As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.

The carrier has renewed and extended its capacity arrangement with the MGA.

Improved performance and growing investment returns played a role in the upgrade.

The executive was most recently serving as CRO – insurance.

The protection gap must be closed before a public cyber reinsurance scheme is possible.

The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.

Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.

Tom Potter was global casualty underwriting manager for UK & Lloyd’s at Axa XL.

The tropical cyclone is expected to be named Imelda.

This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.

The Corporation’s chair reiterated its aim to reduce the cost of doing business.

The market turn may give some staff pause for thought, but reward remains high.

Despite formation of Gabrielle, there is "a very high probability" of a below-average season.

The low degree of overlap between the combining portfolios benefits both parties.

How does Lloyd’s plan to secure its future as a leading global marketplace?

More general issues at recruitment level include drawing from too narrow a pool.

Age has not been addressed as much as other areas of diversity, the panel said.

Vantage Group Holdings received a BBB- long-term issuer credit rating.

The practice group will enhance the company’s existing offerings in E&S.

The affirmations reflect Everest’s strong underwriting diversification.

Plus, the latest people moves and all the top news of the week.

The tech firm is building a joint stock company with insurers and investors.

The new recruit will report to group CUO Ian Houston.

Chilton founded Capsicum Re, which was acquired by Gallagher in 2020.

Models anticipate a busier second half, particularly in the next few weeks.

The carrier’s US and Europe claims teams will report to Clayden.

The platform aims to “bend the loss curve”.

A roundup of the breaking news, C-suite interviews and exclusive insights.

The deal is expected to result in $700mn in combined GWP in Florida upon completion.

Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.

Geopolitical turbulence brings new challenges that primary specialty lines carriers urgently need to address.

Being conservative and stable is the name of the reinsurer’s game.

The aviation market may prove an outlier following a disastrous year of loss activity.

Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.

The carrier M&A cycle has started and reinsurance is a segment where acquisitions work better.

Anticipation, motivation and inspiration are central to effective implementation.

Reinsurers are ready to draw a line under a worsening claim outlook across the casualty market.

Swiss Re forecasts more risk transferring to reinsurance and retro markets in the future.

The post-disaster reinsurance start-up model is changing.

Excess capacity will sustain softer rates, as organic growth challenges lead to more M&A chatter.

Agency reactions ranged from Fitch revising down its sector outlook to AM Best keeping a positive outlook.