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September 2017/3

  • Early estimates of insured Irma losses in the Caribbean from modelling agencies have met a sceptical response in the London market, with sources unsure about the accuracy of early claims forecasts.
  • Reinsurance pricing could still be impacted by Hurricane Irma, even though the market avoided more significant losses after the storm veered away from Miami, according to Leadenhall Capital Partners CEO Luca Albertini.
  • Cat bond prices improved at the end of last week as it became clear that Hurricane Irma was not going to be a major threat to the cat bond segment of the insurance-linked securities (ILS) market.
  • As this year's hurricane season continued to show strong momentum with Hurricane Irma following shortly after Hurricane Harvey, investors grew increasingly wary of the P&C (re)insurance industry suffering the possibility of three-digit billion dollar losses and reacted accordingly.
  • Primary auto carriers, their brokers and reinsurers face a complex round of January renewal discussions after the UK government drafted reforms to the Ogden discount rate.
  • Deteriorating underwriting results in the US commercial insurance sector could provide growth opportunities for the excess and surplus lines (E&S) market, according to Ryan Specialty chairman and CEO Pat Ryan.
  • Ryan Specialty Group (RSG) is actively seeking new strategic acquisitions in its transactional broking and underwriting businesses, according to founding chairman and CEO Pat Ryan.
  • Broker Ed is asking carriers for up to $200,000 apiece in connection with its TradEd placing platform.
  • The CEO of major InsurTech start-up Lemonade has explained the rationale behind the firm's decision to drop its claim to be a peer-to-peer (P2P) insurance company earlier in the year.
  • The Corporation of Lloyd's is considering ways it can run more functions centrally in a bid to reduce the market's above-average 41 percent expense ratio, according to CEO Inga Beale.
  • R&Q has received a licence to operate in Rhode Island as the run-off acquirer positions itself to take advantage of a new Part VII-style regulatory framework, The Insurance Insider has learned.
  • The bidding process for Generali's EUR200mn ($238mn) legacy book has narrowed to three parties, with final offers due this week, The Insurance Insider has learned.