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The appointments are aimed at offering a clearer team structure. -
AWS suffered a large-scale service disruption originating in northern Virginia.
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The company noted tougher market conditions and higher large losses during the year.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Brian Church has spent 20 years at Chubb.
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The MGA is also looking to build out its US mid-market professional liability expertise.
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Carriers are rethinking the traditional renewal-rights model.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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Improved performance and growing investment returns played a role in the upgrade.
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The executive was most recently serving as CRO – insurance.
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The protection gap must be closed before a public cyber reinsurance scheme is possible.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Tom Potter was global casualty underwriting manager for UK & Lloyd’s at Axa XL.
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The tropical cyclone is expected to be named Imelda.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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The Corporation’s chair reiterated its aim to reduce the cost of doing business.
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The market turn may give some staff pause for thought, but reward remains high.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The low degree of overlap between the combining portfolios benefits both parties.
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How does Lloyd’s plan to secure its future as a leading global marketplace?
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More general issues at recruitment level include drawing from too narrow a pool.
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Age has not been addressed as much as other areas of diversity, the panel said.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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The practice group will enhance the company’s existing offerings in E&S.
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The affirmations reflect Everest’s strong underwriting diversification.
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Plus, the latest people moves and all the top news of the week.
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The tech firm is building a joint stock company with insurers and investors.
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The new recruit will report to group CUO Ian Houston.
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Chilton founded Capsicum Re, which was acquired by Gallagher in 2020.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s US and Europe claims teams will report to Clayden.
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The platform aims to “bend the loss curve”.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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Geopolitical turbulence brings new challenges that primary specialty lines carriers urgently need to address.
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Being conservative and stable is the name of the reinsurer’s game.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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Anticipation, motivation and inspiration are central to effective implementation.
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Reinsurers are ready to draw a line under a worsening claim outlook across the casualty market.
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The carrier M&A cycle has started and reinsurance is a segment where acquisitions work better.
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Swiss Re forecasts more risk transferring to reinsurance and retro markets in the future.
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The post-disaster reinsurance start-up model is changing.
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Excess capacity will sustain softer rates, as organic growth challenges lead to more M&A chatter.
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Agency reactions ranged from Fitch revising down its sector outlook to AM Best keeping a positive outlook.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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The reinsurer’s new CEO said he sees no need for a radical shift in strategy.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Former Hannover Re CEO Jean-Jacques Henchoz received the Lifetime Achievement award.
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The executive said claims can be a differentiator in a softening market.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The ratings agency warned negative PYD on US casualty will likely continue.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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Plus, the latest people moves and all the top news of the week.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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He succeeds Felix Cassau, who is joining Hannover Re.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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She was most recently claims manager at QBE France.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Nat-cat events triggered A$1.36bn of losses during the year.
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The London carrier missed consensus on gross and net premiums for H1.
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The Hannover Re CEO said rate adequacy remains “attractive” overall.
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The carrier is the first Fortune 500 company to take a stake in a League Two club.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
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Rachel Sabbarton has been promoted to CEO at Lancashire Syndicates.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The move will impact around $50mn of gross written premiums in total.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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This publication reported yesterday that Talanx was closing in on the sale.
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The loss was driven by nat cats and reserve adjustments in US casualty.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.
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With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.
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The executive has spent more than three decades in insurance.
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The company has also expanded its relationships with US and UK MGAs.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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The underwriter was head of financial institutions at LSM for six years.
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Matthew Doherty joined the reinsurer in 2018 as SVP, property portfolio manager.
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Cat portfolios generally grew, but casualty approaches varied.
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The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
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The Miami-based executive assumes the role left vacant by April McLaughlin.
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