Reinsurers
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In certain classes like energy or cat, AIG switched “a bit” to XoL from quota share.
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The market has advanced in sophistication but must tackle talent, tax and diversification issues.
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The executive will report to UIB LatAm CEO Carlos Gutierrez.
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The executive will be based in Zurich and report to international CUO Joerg Bruniecki.
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The broker was part of a mass resignation from Guy Carpenter last year.
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The recent Italian hail and Bernd losses show some companies are relying on outdated models.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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The broker said 1 April Japanese renewals reinforced positive trends in the US at 1 January.
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Oversupply of capacity will outweigh casualty and per-risk concerns.
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The reinsurer experienced a “notable decrease” of catastrophe losses last year.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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Reinsurers are reporting stellar 2023 results – what they do with the earnings will be crucial.
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Sources are expecting multi-billion new limit to be placed.
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He was executive managing director in Aon’s wholesale treaty team.
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Insured losses from the Christmas storms reached $968mn.
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The carrier has reported that full limits remain on all insurance cover.
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Twia’s actuarial and underwriting committee made the recommendation last week.
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The MS Re CEO said 1 January oversubscription levels on cat were not notable.
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The Australian insurer will have $1.7bn of core XOL cover this year.
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The move followed efficiency considerations and the current state of the Chilean market.
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Its property cat aggregate cover renewed with improved coverage.
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The increase in limit reflects the carrier’s growing exposure.
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Firms issued notice in respect of some commercially reinsured war risks.
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The review followed a methodology change.
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The ratings agency also affirmed the reinsurer’s A- FSR rating.
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The broker will be based in Miami and offer solutions in lines including property, energy, construction and financial lines.
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The company has improved performance and brought in new top management – but its direction under Covéa remains to be seen.
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The source of the funding is one of the most problematic elements for sources who spoke with this publication following the draft bill’s release on Friday.
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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 executive joins the company as it looks to bolster its reinsurance capabilities.
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Both executives will report to CEO Guillermo Eslava.
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Key market participants hailed the narrowing of the gap between PV insurance and reinsurance, however said that more still needs to be done to fix the market.
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Participating insurers would be required to provide all-perils property insurance for residential and commercial policyholders.
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The business will bring together aviation, marine, cyber, engineering and parametric solutions.
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The flight of reinsurers to mid- and upper layers of programmes is influenced by recent experience but softening at this level can be seen as a risky move.
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In the second part of our themes for 2024 outlook, we explore how fear of missing out in cat reinsurance is still contrasting with an upstreaming of risk that is creating fallout for primary insurers, while momentum in facilitisation and ESG continues.
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Reinsurers are looking to grow in top-layer cat risk, resulting in “variable” outcomes on sign-downs.
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In the first section of our two-part outlook for 2024, we explore why macro-economic concerns are taking a step back, though casualty pricing micro-cycles highlight ongoing caution.
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Some reinsurers could be heading into 2024 with spare capacity, the reinsurance leader said.
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Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.
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Well-priced top layer cat risk is in demand, leaving reinsurers watching the market carefully for any signs of decline.
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The PV market is facing yet another battle with reinsurers as they continue to restrict coverage, tighten definitions and exclude geographies.
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Howden was the most active acquirer as people-move activity peaked in Q2, this publication’s data showed.
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Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.
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The lawsuit, filed Thursday on behalf of Clear Blue and its subsidiaries, alleges that Aon conducted insufficient due diligence on the ILS InsurTech.
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RedRiff Agency will underwrite A&H insurance and reinsurance through a Lloyd’s consortium led by Beat 4242.
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It is expected to have a negative impact on profit after tax in 2024 of approximately $500mn.
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The CEO anticipates reinsurers to continue focusing on attachment levels and that appetite for specialty classes will be higher.
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