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Ironshore taps Smith to replace O’Brien as unit lead

Ironshore has named Toby Smith to replace John O’Brien as the president of its environmental unit after O’Brien announced his departure from the Liberty Mutual-owned carrier on LinkedIn last week.

Dan Ascher, 22 November 2017
P&C sector slides to $20bn US underwriting loss

The US property and casualty sector slumped in the first nine months of the year to deliver a $20bn underwriting loss after a trio of hurricanes pushed the industry combined ratio to the highest level in five years, according to rating agency AM Best.

Dan Ascher, 22 November 2017
Rates dropped in Q3 despite cats: Marsh

Insurance rates worldwide fell through the third quarter despite the string of catastrophic events in late August and September, according to pricing data compiled by Marsh.

Bernard Goyder, 22 November 2017
AIG draws Hacking from Willis as tax risks manager

AIG has recruited a former Willis Towers Watson broker to its M&A team, The Insurance Insider understands.

Bernard Goyder, 21 November 2017
US casualty insurers seek up to 10% price hikes

US casualty underwriters are confident of achieving rate increases of up to 10 percent in the early part of next year, as a build-up of liability claims and 2017 property cat losses propel the market past an inflection point.

David Bull, 21 November 2017
Global reinsurance RoE turns negative for 2017: Swiss Re

The global reinsurance sector is on track to lose money in 2017, with a return on equity of -4 percent and a combined ratio of around 115 percent, according to analysis from Swiss Re.

John Hewitt Jones, 21 November 2017
Wildfire losses turn up heat on personal lines carriers

Total disclosed losses from what are set to be the costliest wildfires in Californian history have reached $3.5bn.

Bernard Goyder, 21 November 2017
PartnerRe adds $397mn in Q3 reinsurance recoverables

PartnerRe posted a $396.8mn increase in non-life reinsurance recoverables during the third quarter, as it sustained $472mn of net losses from hurricanes Harvey, Irma and Maria.

Sofia Geraghty, 21 November 2017
Hannover sidecar investors have ‘relatively benign’ Q3

Hannover Re executives said that the firm had exhausted a new multi-territory, multi-peril EUR100.0mn ($117.7mn) aggregate cover as its retro programme responded to third quarter losses.

Fiona Robertson, 21 November 2017
Pricing on Lloyd’s capacity halves amid supply glut

The weighted average price per £1 of Lloyd's capacity more than halved in 2017, as the amount tendered by Names rocketed year-on-year.

Charlie Thomas, 21 November 2017

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