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Commercial auto results may get worse before improving: AM Best

Underwriting results on US commercial auto business may get worse before corrective measures by carriers have any meaningful impact on performance, AM Best warned today.

David Bull, 14 December 2016
IG reinsurance set for reductions across programme

The reinsurance renewal for the International Group (IG) of protection and indemnity clubs will include rate reductions across all layers of the programme and on its excess war cover.

David Bull, 14 December 2016
Guy Carp taps ex-NorthAm chief to build strategic unit

A former president of Marsh’s US and Canada segment, Rob Bentley, has returned to the group’s reinsurance broking arm Guy Carpenter to lead its newly formed global strategic advisory organization.

Dan Ascher, 14 December 2016
RenRe CIO and treasurer Fonner leaves

RenaissanceRe has promoted two executives to replace Todd Fonner as chief investment officer and treasurer after he decided to leave the company on 31 March to pursue other interests, said the Bermudian.

Ted Bunker, 14 December 2016
Negative forces weigh on commercial P&C lines: AM Best

Further deterioration will characterise results next year for US commercial P&C lines, ratings agency AM Best said today, citing factors such as rising competition and declining levels of favourable developments in loss reserves.

Ted Bunker, 14 December 2016
Reinsurers to swallow further reductions at 1.1

As the 1 January renewal process enters its last fortnight a picture is emerging of greater downwards pressure on pricing for property than for casualty, and of the US market bottoming out sooner than the international segment

Adam McNestrie, 14 December 2016
United tackles attritional losses with new quota share

United Insurance Holdings (UIH) placed a new quota share reinsurance cover that incepted at 1 December as it looks to address catastrophe and attritional losses that have hit its earnings in recent quarters.

David Bull, 14 December 2016
Florida workers' comp rate hike case put on fast track

Florida's 14.5 percent workers' compensation rate hike will remain in effect until at least mid-winter, as an appeals court set to hear arguments to block it has set a 2 February filing deadline

Ted Bunker, 14 December 2016
XL Catlin beefs up American M&A insurance team

XL Catlin has added Joseph Laws and Michael McGowan to its North American M&A Insurance team as directors to help flesh out Brian Benjamin's team.

Ted Bunker, 13 December 2016
Otto spurs $1.1mn CCRIF payout to Nicaragua

Hurricane Otto, which battered parts of Central America last month, has triggered a $1.1mn payout to Nicaragua from the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

Dan Ascher, 13 December 2016

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