IM-US-PROPERTY-Helix-SomersRe

Helix secures Somers Re capacity for property program

2022-01-28T15:39:00+00:00

Helix Underwriting Partners has expanded its existing relationship with Somers Re by securing paper for its US property program after Australian carrier QBE pulled its capacity in the latest example of its retrenchment from supporting MGAs, The Insurer can reveal.

IM-IVANS-US-map

Ivans: Rate increases accelerated for all major lines except WC in Q4

2022-01-29T01:57:00+00:00

All six of the major US commercial lines tracked by Ivans Insurance Solutions showed an increase in the average premium renewal rate change in the fourth quarter compared with both the same period of 2020 and Q3 2021, although workers’ compensation remained in negative territory.

Core Specialty and Lancer Insurance

AM Best takes Core Specialty and Lancer ratings off under review after merger close

2022-01-29T00:19:00+00:00

The ratings of Core Specialty’s operating units and those of Lancer Insurance Group have been removed from under review with developing implications by AM Best after the entities completed their combination.

IM-PES-Girard-Point-oil-refinery

PES settles oil refinery explosion property claim with insurers

2022-01-28T18:44:00+00:00

A settlement has been reached in principle between PES Holdings and its insurers in a dispute over property damage from the 2019 explosion and fire at its refinery complex, a move that follows the business interruption claims being settled for $270mn last year.

Craig Smiddy Old Republic

Old Republic’s Smiddy: Commercial auto rate increases staying ahead of loss trends

2022-01-28T15:25:00+00:00

Following on from reporting a Q4 earnings beat driven by improved underwriting results, Old Republic’s CEO has said rate increases for commercial auto are staying ahead of frequency and severity trends while workers’ compensation rates are adequate despite decreases.

IM-IVANS-US-map

Ivans: Rate increases accelerated for all major lines except WC in Q4

2022-01-29T01:57:00+00:00

All six of the major US commercial lines tracked by Ivans Insurance Solutions showed an increase in the average premium renewal rate change in the fourth quarter compared with both the same period of 2020 and Q3 2021, although workers’ compensation remained in negative territory.

Core Specialty and Lancer Insurance

AM Best takes Core Specialty and Lancer ratings off under review after merger close

2022-01-29T00:19:00+00:00

The ratings of Core Specialty’s operating units and those of Lancer Insurance Group have been removed from under review with developing implications by AM Best after the entities completed their combination.

IM-PES-Girard-Point-oil-refinery

PES settles oil refinery explosion property claim with insurers

2022-01-28T18:44:00+00:00

A settlement has been reached in principle between PES Holdings and its insurers in a dispute over property damage from the 2019 explosion and fire at its refinery complex, a move that follows the business interruption claims being settled for $270mn last year.

Craig Smiddy Old Republic

Old Republic’s Smiddy: Commercial auto rate increases staying ahead of loss trends

2022-01-28T15:25:00+00:00

Following on from reporting a Q4 earnings beat driven by improved underwriting results, Old Republic’s CEO has said rate increases for commercial auto are staying ahead of frequency and severity trends while workers’ compensation rates are adequate despite decreases.


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AM Best

AM Best: US P&C market resilient in face of headwinds as 9M DPW soars

As the US P&C sector begins to report its Q4 and full-year 2021 results, new analysis from AM Best shows that direct premiums written grew 10 percent in the first nine months of last year as the market rebounded from a pandemic-related slowdown with (re)insurers showing “extraordinary resilience” to headwinds.

ILS issuance

2021 cat bond issuance at record $12.5bn

Cat bond issuance reached a new record high for the second consecutive year in 2021 as investors continued to be drawn to the sector, with fresh issuance climbing to $12.5bn.

PwC

PwC: Cyber and global health continue to dominate CEO concerns but insurance execs are upbeat

Cyber threats and global health risks remain the two greatest concerns to global CEOs while macroeconomic volatility has grown in prominence as a worry for executives over the past 12 months, the findings from a major new PwC report show.

AM Best

AM Best: US P&C market resilient in face of headwinds as 9M DPW soars

As the US P&C sector begins to report its Q4 and full-year 2021 results, new analysis from AM Best shows that direct premiums written grew 10 percent in the first nine months of last year as the market rebounded from a pandemic-related slowdown with (re)insurers showing “extraordinary resilience” to headwinds.

ILS issuance

2021 cat bond issuance at record $12.5bn

Cat bond issuance reached a new record high for the second consecutive year in 2021 as investors continued to be drawn to the sector, with fresh issuance climbing to $12.5bn.

PwC

PwC: Cyber and global health continue to dominate CEO concerns but insurance execs are upbeat

Cyber threats and global health risks remain the two greatest concerns to global CEOs while macroeconomic volatility has grown in prominence as a worry for executives over the past 12 months, the findings from a major new PwC report show.

Natural disasters 2

Parametric solutions open door to more resilient future

The latest monthly edition of The ESG Insurer, published earlier this week, shines further light on the raft of initiatives under way to deploy parametric solutions to build the resilience of vulnerable communities and protect natural assets.

Climate agenda 2022

Setting the climate agenda for 2022

With a challenging 12 months ahead for the industry as it steps up its efforts to address climate change, we identify four key areas in which insurers can push forward during 2022.

Lloyds digital transformation

The promised land of Lloyd’s digitalisation is still achievable but time is running out

There have been many false starts on the road leading Lloyd’s to the promised land of e-placement and digital back-office processing.

Natural disasters 2

Parametric solutions open door to more resilient future

The latest monthly edition of The ESG Insurer, published earlier this week, shines further light on the raft of initiatives under way to deploy parametric solutions to build the resilience of vulnerable communities and protect natural assets.

Climate agenda 2022

Setting the climate agenda for 2022

With a challenging 12 months ahead for the industry as it steps up its efforts to address climate change, we identify four key areas in which insurers can push forward during 2022.

Lloyds digital transformation

The promised land of Lloyd’s digitalisation is still achievable but time is running out

There have been many false starts on the road leading Lloyd’s to the promised land of e-placement and digital back-office processing.