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Insider View: 1 January renewals
A brief examination of the 1 January reinsurance renewal could be misread as an incrementally positive step in the recovery of underwriters from their soft market ills.
David Bull
,
10 January 2017
Soft market slog looms after further concessions
Reinsurers are preparing to dig in for two or three years of deteriorating results, as the 1 January renewals look set to mark the last meaningful erosion of rates following years of significant compound reductions.
Adam McNestrie
,
10 January 2017
RSA fined after data theft
The UK data protection regulator has fined RSA £150,000 ($182,943) following the 2015 theft of a hard drive containing 60,000 customers' names and bank account details from an RSA building.
Bernard Goyder
,
10 January 2017
Hurricane Matthew Florida losses hit $803mn
Estimated Floridian insured losses from Hurricane Matthew have risen over 10 percent to $803mn, according to the Florida Office of Insurance Regulation.
Matthew Neill
,
10 January 2017
Pioneer forms tech and cyber liability team
Pioneer Underwriters has launched a miscellaneous, technology and cyber liability unit under the leadership of former Ace executive David Lucey, who becomes vice president.
Laura Board
,
10 January 2017
Pen Underwriting appoints solicitors’ PI head
UK-headquartered managing general agency Pen Underwriting has hired Paul Crilly as its new head of solicitors' professional indemnity lines
Matthew Neill
,
10 January 2017
Premia Re launches after $510mn capital raise
Premia Re, the new run-off reinsurance vehicle led by former Chubb exec Bill O'Farrell and backed by Arch, has confirmed its formation by announcing a $510mn capital raise.
Dan Ascher
,
10 January 2017
XL reveals $245mn Q4 cat loss
XL Group has warned investors to expect net catastrophe losses of around $245mn when the (re)insurer publishes its results for the fourth quarter.
Dan Ascher
,
10 January 2017
S&P confirms CCR Re’s A- rating
Standard & Poor's (S&P) has confirmed its preliminary A- rating for the recently formed subsidiary of state-owned French reinsurer Caisse Centrale de Réassurance (CCR)
Dan Ascher
,
09 January 2017
RSG gives Rosson broker engagement role
Former Woodruff-Sawyer & Co CEO Charlie Rosson has been made senior vice president at Ryan Specialty Group (RSG), the wholesale broker and underwriter announced today
Dan Ascher
,
09 January 2017
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