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The repositioning of AIG and FM Global has led to a 1 April renewals period where the balance of power is tipped in London’s favour. -
High-single-digit to low-double-digit advance driven by big increases on wind and flat quake renewals.
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Japanese mutual extends its open market cover to $15bn, with pricing flat year-on-year.
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The state-backed insurer is looking to refine its reinsurance programme but overall demand remains subdued after it has depopulated its portfolio.
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Underwriters are preparing for a major claim from Boeing and fear another loss-making year.
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Ahead of the 1 January renewals, the mood music on sidecar renewals sounded fraught: thrums of anxiety from brokers and querulous undercurrents from investors.
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One market representative is understood to have raised the issue with Lloyd’s performance management director Jon Hancock last week.
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The business discloses a 12.8 percent return for the 2016 year of account.
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CIAB said all lines except workers’ compensation, cyber and terrorism saw pricing increases.
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Discussions ahead of the midyear renewals are now beginning in earnest.
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The mutual now has a long-term credit rating and financial strength rating of BBB+.
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However, reinsurance programme structures are not expected to change much.
