Terry McLean – Sage Sure and Sure

Reciprocal exchange adds stable capacity as SageSure looks to grow beyond $800mn

2021-06-11T15:18:00+01:00

SureChoice Underwriters Reciprocal Exchange (SURE) will look to broaden its footprint beyond its launch state of Texas to provide an additional source of stable capacity to SageSure as the property cat-focused MGU looks to push its premium volumes beyond $800mn in 2021, The Insurer can reveal.

II-Marsh-MichaelParrish

Marsh hires senior Aon exec Parrish and others in latest major Florida broking move

2021-06-12T00:00:27.04+01:00

Marsh has hired the long-serving head of Aon’s East Coast region Michael Parrish and more than 10 of his colleagues in what represents the latest shake up of Florida’s broking market in recent months.

II-Ficht-Chart2

Fitch: Workers’ comp market to return to falling prices by year-end

2021-06-11T22:45:00+01:00

The workers’ compensation market will produce a combined ratio around the low 90 percent range this year while rates will begin to fall again by year-end after rising amid pandemic-related uncertainty, Fitch Ratings has predicted in a new report.

Florida sign – Heritage

Florida governor DeSantis signs property insurance reform

2021-06-11T22:43:00+01:00

Florida governor Ron DeSantis has signed a property insurance reform bill into law that includes changes to the Sunshine State’s attorney fee statute, a shortening of the deadline for filing a claim and a raise of Citizens’ cap on annual premium increases.

II-AssuredPartners-BHI-Delaware

AssuredPartners completes 20th acquisition of 2021 with Delaware’s BHI

2021-06-11T22:36:00+01:00

AssuredPartners has completed its 20th acquisition of 2021 and added some $8mn of annualized revenues to its books after the fast-growing retail broker consolidator agreed a deal for B&H Insurance (BHI).

II-Marsh-MichaelParrish

Marsh hires senior Aon exec Parrish and others in latest major Florida broking move

2021-06-12T00:00:27.04+01:00

Marsh has hired the long-serving head of Aon’s East Coast region Michael Parrish and more than 10 of his colleagues in what represents the latest shake up of Florida’s broking market in recent months.

II-Ficht-Chart2

Fitch: Workers’ comp market to return to falling prices by year-end

2021-06-11T22:45:00+01:00

The workers’ compensation market will produce a combined ratio around the low 90 percent range this year while rates will begin to fall again by year-end after rising amid pandemic-related uncertainty, Fitch Ratings has predicted in a new report.

Florida sign – Heritage

Florida governor DeSantis signs property insurance reform

2021-06-11T22:43:00+01:00

Florida governor Ron DeSantis has signed a property insurance reform bill into law that includes changes to the Sunshine State’s attorney fee statute, a shortening of the deadline for filing a claim and a raise of Citizens’ cap on annual premium increases.

II-AssuredPartners-BHI-Delaware

AssuredPartners completes 20th acquisition of 2021 with Delaware’s BHI

2021-06-11T22:36:00+01:00

AssuredPartners has completed its 20th acquisition of 2021 and added some $8mn of annualized revenues to its books after the fast-growing retail broker consolidator agreed a deal for B&H Insurance (BHI).

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Califronia

Cali working group unveils recommendations to help tackle climate risk

California’s Climate Insurance Working Group (CIWG) has made a raft of recommendations on how the Golden State can better manage the threat posed by perils such as wildfire, flood, mudflows and rising sea levels in a newly published draft report.

Citizens Nephila Florida

ILS funds wrote half of Citizens’ traditional placement

Although Nephila’s $600.8mn participation across Florida Citizens’ $1.649bn traditional reinsurance dwarfed that of all other markets writing the 1 June cover, significant lines from DE Shaw Re and LGT Capital meant that ILS funds accounted for more than 50 percent of the total.

Average major losses

Lloyd’s 2020 YoA optimism rises as Uri losses appear manageable

There is cautious optimism among members’ agents that the 2020 year of account will deliver a result significantly above current indications with underlying loss ratios “better than for any year since 2015”.

Califronia

Cali working group unveils recommendations to help tackle climate risk

California’s Climate Insurance Working Group (CIWG) has made a raft of recommendations on how the Golden State can better manage the threat posed by perils such as wildfire, flood, mudflows and rising sea levels in a newly published draft report.

Citizens Nephila Florida

ILS funds wrote half of Citizens’ traditional placement

Although Nephila’s $600.8mn participation across Florida Citizens’ $1.649bn traditional reinsurance dwarfed that of all other markets writing the 1 June cover, significant lines from DE Shaw Re and LGT Capital meant that ILS funds accounted for more than 50 percent of the total.

Average major losses

Lloyd’s 2020 YoA optimism rises as Uri losses appear manageable

There is cautious optimism among members’ agents that the 2020 year of account will deliver a result significantly above current indications with underlying loss ratios “better than for any year since 2015”.

Scor Covea

A good deal for Covéa, a great deal for Scor

Denis Kessler’s 19-year reign at the helm of Scor has seen a major turnaround in the fortunes of the Paris-based group, which has grown to become the world’s fourth largest reinsurer.

Patrick Tiernan Burkhard Keese

Lloyd’s likely to remain on familiar course as it unveils 2022 planning objectives

“Logical, realistic and achievable” has been Lloyd’s mantra through recent business planning processes and the Corporation is unlikely to deviate far from this approach as it outlines its priorities and objectives for the 2022 planning process today.

Activism

The rise of investor activism

There was a time, perhaps a decade or so ago, when there seemed little room for investor activism in the relatively genteel world of global P&C insurance. This week is yet another reminder that those cosy days are long gone.

Scor Covea

A good deal for Covéa, a great deal for Scor

Denis Kessler’s 19-year reign at the helm of Scor has seen a major turnaround in the fortunes of the Paris-based group, which has grown to become the world’s fourth largest reinsurer.

Patrick Tiernan Burkhard Keese

Lloyd’s likely to remain on familiar course as it unveils 2022 planning objectives

“Logical, realistic and achievable” has been Lloyd’s mantra through recent business planning processes and the Corporation is unlikely to deviate far from this approach as it outlines its priorities and objectives for the 2022 planning process today.

Activism

The rise of investor activism

There was a time, perhaps a decade or so ago, when there seemed little room for investor activism in the relatively genteel world of global P&C insurance. This week is yet another reminder that those cosy days are long gone.