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The reinsurer warns of pandemic-related uncertainty and adds another $500mn to Covid claims and reserves, taking the total to $3bn. -
The insurance industry should use the wake of the pandemic to “build back better” says the Axa CEO.
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Net investment income grew by 54%, which partially offset an underwriting loss.
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Asian reinsurer looks to expand as prices increase.
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The former Aon retro broker joined the firm several years ago.
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Manders had been with the company since its launch in 2005
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The new chief joins from Hiscox ILS with a mandate to expand the reinsurer’s third-party capital platform.
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Mike Connelly was previously The Hartford’s specialty commercial CFO.
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The carrier says higher retro renewal costs will act as a counterweight to rising rates.
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It’s always fascinating to bring together global reinsurance executives for a 90 minute debate, but doing it virtually in September, half way through the hurricane season, adds extra spice.
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CEO Alan Schnitzer acknowledges coming reinsurance rate hikes.
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“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
