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Earlier this week, The Insurance Insider reported that reinsurance market sentiment has “hit its highest level in years, with mounting confidence that gathering pricing momentum can be sustained beyond 2019”.
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The broker will use proceeds for M&A.
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The trade association criticised the justice secretary’s rationale for the smaller-than-forecast rise in the personal injury discount rate as flawed. -
The carrier prices its stock at between $16 and $18 for the offer, and plans to sell up to a 23.9 percent stake.
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Underwriters said rate rises of 20 percent plus were needed, with some pushing for hikes of as much as 70 percent.
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They face a Herculean task but the two start-ups could break the stranglehold of MMC, Willis and AJG in the aviation market.
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The overall reduction in payouts from the discount rate change could exceed $500mn, a UK government impact assessment has found.
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Carriers and market bodies said the decision will pass costs onto policyholders
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Moody's warns Direct Line and Admiral will face a one-off earnings hit.
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Increased competition has made the class one of the few in EC3 that is not seeing a rating upswing.
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Professional lines underwriter Lillies joins from Everest Re.
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It’s unclear if lawyers will continue to exploit loopholes in the new AOB reform, the rating agency says in its Florida market report.
