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Scor begins claiming $26mn cat bond recovery

The firm’s 2015 Atlas cat bond has triggered, following loss creep from the 2017 hurricanes.

Sofia Geraghty, 16 July 2019
Excessive focus can make industries terrible at adapting to new phenomena

A Financial Times interview with Pat Gallagher made me long for the summer break and the chance to read and digest a book I have been recommended.

Mark Geoghegan, 16 July 2019
Delegated authority expansion deemed ‘unjustified’ in market survey

The Insurance Insider’s Market Sentiment Survey, in association with EY, found that the majority of market figures think growth will be difficult to sustain.

Samuel Casey, 16 July 2019
Downstream energy rates expected to accelerate after $1bn loss tally

Underwriters said rate rises of 20 percent plus were needed, with some pushing for hikes of as much as 70 percent.

Anna Sagar, 16 July 2019
Barry to cost (re)insurers $300mn: KCC

The modelling agency’s estimate factors in privately insured wind and storm surge losses from property and automobile claims.

Sofia Geraghty, 16 July 2019
Darag confirms quota share deal with Protector

The legacy carrier will cover the Norwegian insurer’s change of ownership portfolio.

Rachel Dalton, 16 July 2019
Apollo appoints Burkinshaw to board as CUO

The former Fidelis specialty chairman will report to CEO David Ibeson in the newly created position.

Samuel Casey, 16 July 2019
All is not lost with the Ogden rate if (re)insurers can stomach another fight

If knowledge is power, motor insurers and their reinsurers should theoretically be feeling a little mightier after UK Justice Secretary David Gauke ended months of uncertainty by pegging the Ogden discount rate at -0.25 percent.

Laura Board, 16 July 2019
Bermuda court pauses Athene fight with pension fund

The court will later make a permanent ruling over whether action against Apollo’s life insurance unit can proceed.

John Hewitt Jones, 16 July 2019
Markel reaches deals with dismissed Catco executives

The company has reached a settlement with Alissa Fredricks and agreed to binding arbitration with Tony Belisle.

Christie Smythe, 16 July 2019

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