AmWINS casualty

Hard casualty market to continue for at least another 18 months: AmWINS

2020-10-21T14:41:00+01:00

Data from wholesale giant AmWINS shows US casualty renewals priced up by an average of 10.67 percent in the third quarter – matching the pace of increase seen in Q3 2019 – with the current challenging conditions for buyers set to last for the next 18 months or more.

RSA High Court

RSA will not appeal on Resilience and Eaton Gate wordings

2020-10-21T14:10:00+01:00

UK insurer RSA will not appeal to the Supreme Court over the High Court’s decision on three wordings in the City watchdog’s business interruption test case.

Kathleen Reardon – Hiscox

Hiscox Re & ILS names Kathleen Reardon CEO

2020-10-21T08:15:00+01:00

Kathleen Reardon, the former CEO of Hamilton Re, has been named CEO of Hiscox Re & ILS, subject to regulatory approval.

Miles Wuller – RSGUM

Wuller promoted to EVP at RSG Underwriting Managers

2020-10-21T15:04:00+01:00

Miles Wuller has been named executive vice president of RSG Underwriting Managers.

AmWINS Professional lines

Holes in upper layers driving more D&O business to wholesale market: AmWINS

2020-10-21T13:53:00+01:00

New capacity is coming into the US public directors’ and officers’ (D&O) market but more holes are appearing in middle and upper layers, which is driving more business to the wholesale market, AmWINS has reported in a professional lines update.

RSA High Court

RSA will not appeal on Resilience and Eaton Gate wordings

2020-10-21T14:10:00+01:00

UK insurer RSA will not appeal to the Supreme Court over the High Court’s decision on three wordings in the City watchdog’s business interruption test case.

Kathleen Reardon – Hiscox

Hiscox Re & ILS names Kathleen Reardon CEO

2020-10-21T08:15:00+01:00

Kathleen Reardon, the former CEO of Hamilton Re, has been named CEO of Hiscox Re & ILS, subject to regulatory approval.

Miles Wuller – RSGUM

Wuller promoted to EVP at RSG Underwriting Managers

2020-10-21T15:04:00+01:00

Miles Wuller has been named executive vice president of RSG Underwriting Managers.

AmWINS Professional lines

Holes in upper layers driving more D&O business to wholesale market: AmWINS

2020-10-21T13:53:00+01:00

New capacity is coming into the US public directors’ and officers’ (D&O) market but more holes are appearing in middle and upper layers, which is driving more business to the wholesale market, AmWINS has reported in a professional lines update.




Fitch Ratings

MILN prove resilient to Covid-19 as mortgage reinsurers struggle to assess losses

Mortgage insurance linked notes (MILN), which have grown quickly to become a significant source of reinsurance, have proved their effectiveness during Covid-19 while mortgage insurers and reinsurers face an extremely difficult task to assess ultimate claims from the pandemic, ratings agencies suggest.

Aon, WTW, B&B, MMC, Gallagher, Truist

Truist organic growth sets stage for good quarter for brokers

Better-than-expected organic revenue growth in the insurance brokerage business of Truist Financial Corporation should be taken as a positive read-across for other US-listed intermediaries when they report in the coming weeks, according to Wells Fargo analyst Elyse Greenspan.

Air Worldwide, Core Logic, RMS. KC & Co

Delta pushes upper end of 2020 hurricane loss estimates up to $23bn

Onshore losses from this year’s five landfalling US hurricanes will have an aggregate cost to the private (re)insurance sector somewhere between $8.6bn and $23.2bn, according to modelled loss estimates issued to date.

Fitch Ratings

MILN prove resilient to Covid-19 as mortgage reinsurers struggle to assess losses

Mortgage insurance linked notes (MILN), which have grown quickly to become a significant source of reinsurance, have proved their effectiveness during Covid-19 while mortgage insurers and reinsurers face an extremely difficult task to assess ultimate claims from the pandemic, ratings agencies suggest.

Aon, WTW, B&B, MMC, Gallagher, Truist

Truist organic growth sets stage for good quarter for brokers

Better-than-expected organic revenue growth in the insurance brokerage business of Truist Financial Corporation should be taken as a positive read-across for other US-listed intermediaries when they report in the coming weeks, according to Wells Fargo analyst Elyse Greenspan.

Air Worldwide, Core Logic, RMS. KC & Co

Delta pushes upper end of 2020 hurricane loss estimates up to $23bn

Onshore losses from this year’s five landfalling US hurricanes will have an aggregate cost to the private (re)insurance sector somewhere between $8.6bn and $23.2bn, according to modelled loss estimates issued to date.

US legacy opportunity

The $350bn US legacy opportunity

The news that Enstar and Oklahoma have stolen a march by completing the first successful insurance business transfer (IBT) in the US is likely to be seen as a watershed moment for legacy players looking to tap the vast potential in the world’s largest insurance market.

Florida record

Florida’s broken record jumps to a different tune

After several years of mounting pressures for writers of Florida homeowners insurance business, a culmination of hard market reinsurance conditions and a series of loss events outside of the state could trigger the long-awaited day of reckoning for several players in the market.

Donald Trump

Trump news reminds insurers of the need for future pandemic solutions

2020’s legacy as a year of unsettling turmoil caused by Covid-19 continues today with news that President Trump has tested positive for the virus only a month before the Presidential election.

US legacy opportunity

The $350bn US legacy opportunity

The news that Enstar and Oklahoma have stolen a march by completing the first successful insurance business transfer (IBT) in the US is likely to be seen as a watershed moment for legacy players looking to tap the vast potential in the world’s largest insurance market.

Florida record

Florida’s broken record jumps to a different tune

After several years of mounting pressures for writers of Florida homeowners insurance business, a culmination of hard market reinsurance conditions and a series of loss events outside of the state could trigger the long-awaited day of reckoning for several players in the market.

Donald Trump

Trump news reminds insurers of the need for future pandemic solutions

2020’s legacy as a year of unsettling turmoil caused by Covid-19 continues today with news that President Trump has tested positive for the virus only a month before the Presidential election.