Apollo and Africa Specialty Risks team up for potential 2024 Lloyd’s SPA

AM Best: US homeowners market remains challenged as pressures take toll

Brindle: Cyber is “scary” but we are now open to the idea

Suncorp delegation visits London, Munich to discuss cost of cat reinsurance

US severe convective storm losses top $50bn for 2023: Gallagher Re

Howden Tiger appoints Tim Ronda as CEO as Bredahl named exec chair of capital markets

Tim Ronda is to succeed Rob Bredahl as CEO of Howden Tiger with effect from 1 January 2024.

Esser awarded £6.1mn damages in AFL fraud trial against former owners Alec and Bob Finch

The former owners of AFL Insurance Brokers have been ordered to pay up to £6.1mn in damages to ex-Cooper Gay CEO Toby Esser and his acquisition vehicle, after a High Court judge found the father-and-son team conspired to falsify company accounts and hide the misuse of client funds.

Latest Articles

Safety National Re recruits Scor’s Steele for casualty treaty push

AssuredPartners targets aviation growth after recruiting Marsh’s Braunstein

BHSI names Carrer as head of casualty in Switzerland

Trump ruled liable for insurance and banking fraud

Paladin Cyber hires Wieber and Leanza and rebrands to Upfort

Alliant confirms AP’s Lonneman as EVP of Agribusiness

IIL elects Munich Re Syndicate’s Hoare as president

Cyber should scare you. It's scary. It scares me. And the reason it scares me is I've never met a cyber underwriter who can explain how he or she aggregates their exposures or prices their business. So on first principles, that scares the bejesus out of me.

Richard Brindle, CEO at Fidelis MGU

Vesttoo Collateral Concerns: In Focus

MGA and fronting sector faces tighter scrutiny in wake of Vesttoo scandal

Corinthian gets $50mn bridge capacity to begin replacing Vesttoo-sourced LOCs

Vesttoo bankruptcy judge reiterates stay over White Rock segregated accounts

White Rock provisional liquidators hit back at Vesttoo’s claim over control of cells

Conning: Diligence, reinsurance costs, ratings scrutiny among Vesttoo fallout

Fears of regulatory overreach on LOCs as Vesttoo scandal deepens

More News

McGill partners with Renew Risk on offshore wind cat models

Aon launches solution for financial institutions

Korean Re net income jumps threefold in H1

Scor names Dill COO; promotes Murphy to deputy CEO L&H

Saga pulls sale of underwriting business citing market conditions

Helvetia posts 94% combined ratio in H1

Saga 6M combined ratio slips to 136.4%

Hiscox sells DirectAsia business to Ignite Thailand

Moody’s maintains negative outlook on UK P&C as claims and reinsurance costs spike

Viewpoint

2023 North Atlantic hurricane season: Tug of war continues between El Niño and SSTs

Opportunity realised with strategic management of global volatility

At a turning point

The role of technology in the future reinsurance paradigm

Meeting the cyber challenge

Striking the balance: Data and expertise in reinsurance renewals

#ReinsuranceMonth

WSIA 2023

The Insurer TV - highlights

Scott Egan: Opportunity abounds to build on SiriusPoint’s “demonstrable” progress

SiriusPoint has already made “really good” and “demonstrable” progress but there will be no complacency as the Bermuda-based (re)insurer looks to realise the opportunities it sees across its business and further strengthen its market position, CEO Scott Egan has told The Insurer TV.

IGI’s Jabsheh: Too soon to even consider property cat rate reductions

International General Insurance’s newly appointed CEO Waleed Jabsheh has insisted it remains far too early to even contemplate reductions in property catastrophe reinsurance pricing, as the market needs further time to make up for the past five years of limited returns.

Scor’s Bartlett: Nat cat retreat validated by 2023 losses

The rising tally of natural catastrophe losses for the year to date and the continued pressure on balance sheets from secondary perils have served to validate Scor’s approach to nat cat exposures, according to deputy regional chief underwriting officer Charlie Bartlett.

Crawford’s Verma calls on industry to proactively address talent and skills shortage

Talent scarcity and skills deficits are creating urgency to bolster industry talent reserves – especially on the claims side of the business, according to Nidhi Verma, chief people and ESG officer at Crawford & Company.

Aon’s Moore: MGAs will continue to succeed in niche areas

The MGA market is a “great opportunity for talented underwriters to take some of the reward,” match great talent with capital, and grow niche and successful businesses, Rupert Moore, UK CEO of Aon Reinsurance Solutions, told The Insurer TV.

Dual’s Johnson: Diversified portfolio and sustainable results key to attracting strategic capacity

Dual North America’s diversified portfolio of programs has allowed it to deliver consistent growth as opportunities ebb and flow in different segments, supported by capacity relationships that are increasingly strategic in nature, according to the platform’s CEO John Johnson.

Hiscox Re’s Wilken: Reinsurers must continue to rein in peril scope and maintain discipline

The retrocession market’s tightness in coming months will depend on how many losses occur before year’s end, Hiscox Re & ILS CUO Matthew Wilken told The Insurer TV.

Moody’s Analytics’ Ingram: “We’re doubling down on cyber”

As the insurance industry seeks to better understand cyber risks, Moody’s Analytics’ James Ingram told The Insurer TV the risk analytics company is “doubling down” on the peril.

eReinsure’s Best-Devereux: Technology delivers for customers, if used strategically

eReinsure has seen “loads of” technological advancements enter the marketplace over its 20-year history, but founder and CEO Igor Best-Devereux told The Insurer TV in Monte Carlo that some advances – such as blockchain – have been less useful to the sector than anticipated.

Cyber: The defining risk of our time

Executives from around the cyber market agree that it is “the defining risk of our time”. While the market has recently seen more meaningful capital entry, and rates appear to be holding for the time being, the industry has not yet been able to fully comprehend a ‘Black Swan’ event – increasingly defined as a cyber attack having serious physical asset ramifications.

Liberty Mutual’s Dolan: PFAS “emergent” and a very real threat

Increasing regulatory scrutiny around so-called forever chemicals is driving greater risk awareness, with Matt Dolan, president of North America specialty at Liberty Mutual Insurance and its Ironshore unit, telling The Insurer TV that the types of businesses affected are broad, including all kinds of consumer products.

RPS’ Manny Cho: Buyer’s market in ML/PL to continue for foreseeable future

An abundance of capacity means the current softening conditions in segments of management and professional liability – led by sharp declines in public D&O pricing – are likely to persist, according to Manny Cho, executive vice president for executive lines at Risk Placement Services.

Comment

Aviation reinsurers flying high after first AerCap settlement lands

Vesttoo: A fraud waiting to happen…

Reinsurance: the value proposition

No respite as reinsurance market tail wags the E&S dog

Has Axa’s XL Re dilemma finally been put to rest?

Lloyd’s carriers look west for E&S opportunity

Program Manager - highlights

Gillingham: Totalis launch aimed at drawing attention to NFP MGA business

The rebranding of NFP’s MGA platform as Totalis Program Underwriters is all about spotlighting the $750mn-premium programs business and raising awareness of the value it brings to the retail broker’s overall offering, Tom Gillingham has exclusively told Program Manager.

E&S tailwind v reinsurance headwind

The US MGA and programs sector is gearing up for the TMPAA Annual Summit in Scottsdale next month.

Corinthian gets $50mn bridge capacity to begin replacing Vesttoo-sourced LOCs

Corinthian has told trading partners it has secured $50mn of interim or bridge capacity from an investor that it will use to begin replacing Vesttoo-sourced letters of credit “as soon as possible”, having lined up at least $550mn of total capacity from the unnamed firm, Program Manager can reveal.

Dual’s Johnson: Diversified portfolio and sustainable results key to attracting strategic capacity

NFP launches Totalis Program Underwriters as new $750mn integrated platform

NFP has launched Totalis Program Underwriters, a new integrated underwriting platform housing the retailer’s expansive $750mn-premium MGA business and 17 distinct programs, led by Tom Gillingham, Program Manager can reveal.

Enviant sale to One80 is latest liquidity event under Euclid’s partner model

The sale of environmental MGA Enviant to One80 Intermediaries by Euclid demonstrates the firm’s partner model, which allows for liquidity events as well as providing a platform for growth.

K2 invests in MGA start-up Titan Flood led by Neptune co-founder Stephanie Lee

Warbug Pincus-backed MGU platform K2 Insurance Services is backing the launch of a new residential flood MGA called Titan Flood led by former Neptune co-founder and COO Stephanie Lee, alongside former National Flood Services CTO Travis Pine, The Insurer can reveal.

Potential $400mn+ Accredited sale tests confidence in MGA-program model after Vesttoo fraud

There have been milestone acquisitions of fronting businesses in recent years, such as Markel-State National in 2017 and MS&AD-Transverse in early 2023, but all eyes are currently on Accredited and its troubled parent R&Q after advanced talks to sell the programs specialist to Onex were confirmed last week.

LatAm-focused MGA Redline approved as Lloyd's coverholder

MGA Redline Underwriting has been approved as a Lloyd's coverholder, in a move the firm said will strengthen its ability to offer facultative reinsurance solutions to the Latin American market.

R&Q shares rise 13% after confirming advanced talks with Onex over Accredited sale

R&Q’s share price has risen 13 percent in early trading following confirmation the company is in advanced discussions with Canadian private equity firm Onex Corporation over the sale of its hybrid fronting business Accredited.

Holmes Murphy hires Ryan Specialty’s Anders to launch MGA practice

Iowa-based national broker Holmes Murphy has hired program veteran Tim Anders to lead its new MGA practice.

Brown & Brown continues MGA build-out with Occam Underwriting acquisition

US intermediary Brown & Brown has agreed a deal to acquire 100 percent of the share capital of London-based MGA and Lloyd’s coverholder Occam Underwriting.

Analysis

US insurance stocks hold ground as markets react to Fed’s hawkish actions

H1 “very challenging” for mutual insurers as combined ratio jumps to 113.2%

Core Specialty considering joining the ranks of specialty P&C IPOs

Brit shows blueprint on how Apollo may exit $3.5bn+ Aspen

US insurance stocks rise 2.1% despite weak performance on Wall Street

Private equity is behind one in four Lloyd’s (re)insurers

E&S Insurer - highlights

UPDATE: Core Specialty expected to line up banks as it considers IPO

Core Specialty is expected to line up potential banking advisors later this year as it weighs up a public listing of the rebooted former StarStone US business, The Insurer understands.

WSIA ’23: After property rehardening, will casualty follow suit?

After strong messaging from reinsurers earlier this month on the need to further drive down cede commissions on casualty quota shares, Lloyd’s set out its stall, flagging US general liability as one of three key areas of focus for performance oversight.

Lancashire hires Everest’s Curtin to spearhead US E&S property push

Lancashire has made one of the first major hires amid its plans to build out a US-based E&S platform, recruiting Everest’s former head of US property Chris Curtin to lead the new unit’s property operations, E&S Insurer can reveal.

Godhwani: BHSI benefits from Berkshire balance sheet and long-term view

The fact that Berkshire Hathaway Specialty Insurance does not buy reinsurance has insulated it from the shift to hard market treaty conditions – especially in property – while its parent’s balance sheet and long-term view has put the insurer at an advantage as it targets attractive E&S opportunities, according to its head of North America Sanjay Godhwani.

JMP notes Ryan Specialty “built to be successful” as initiates coverage

JMP Securities analysts have initiated coverage on Ryan Specialty amid a forecast that the Pat Ryan-led wholesaler will record strong and sustainable growth for the foreseeable future, fuelled by both macro tailwinds and its structure and business strategy.

Wildfire MGA Delos in talks to launch SME commercial property, HNW HO programs

Wildfire-focused insurtech MGA Delos Insurance Solutions is in the early stages of capacity discussions to launch a new SME commercial property program, and is in separate talks to reboot its high-value homeowners program, E&S Insurer can reveal.

April Galda Joyce leaves Beat Capital Partners

April Galda Joyce has left her position as CEO of Beat Capital Partners Americas after just over two years in the role at the MGA and carrier platform, E&S Insurer can reveal.

Selective targets E&S growth as it looks to broaden sector distribution

Selective Insurance Group is looking to build upon the recent success of its growing E&S portfolio by expanding distribution, CEO John Marchioni has declared.

NormanMax gets initial Lloyd’s approval to launch parametric Syndicate 3939

Brad Meier-led E&S start-up NormanMax Holdings has received preliminary approval from the Lloyd’s business opportunities committee to launch parametric-only Syndicate 3939 with Apollo Syndicate Management, as it works with GC Securities to raise capital, E&S Insurer can reveal.

Skyward Specialty launches E&S solution for individual healthcare providers

Skyward Specialty Insurance Group has brought a new healthcare E&S liability solution targeted at individual providers, including physicians, to market, in a bid to fill what the expansive carrier described as “a significant gap”.

Canopius enters US excess casualty with DiBattista hire

Canopius has announced its entry into the US domestic excess casualty market as part of a drive to expand its US footprint.

Cavaness: RPS’s organic growth expected to slow to 8% in Q3

The president of Risk Placement Services expects the high level of growth in the E&S market to continue, although the Arthur J Gallagher wholesale subsidiary’s organic growth is expected to dip in the third quarter both sequentially and year over year.

Interview

Axis Re to pivot cyber exposures to standalone covers as it grows portfolio

Gallagher Re’s Croxford: “Different feel” to this year’s marine renewals

Delos CEO Stein: Wildfire risk moving from generalist peril to specialist peril

CyberCube: Reinsurance capacity to build as modelling confidence grows

Axa XL’s Gunter: Sale of reinsurance business “not on my radar”

Hippo confident portfolio shake-up will make it more attractive to reinsurers at 1.1

ESG Insurer - highlights

Insurers told to collect socio-economic data on workforce to help address “progression gap”

Insurers should begin collecting socio-economic background data from their workforce to address the “progression gap”, which allows those from more advantaged backgrounds to progress more rapidly to senior roles, a new report has said.

Flood Re: Models yet to converge on how climate change will impact UK flood risk

Catastrophe model outputs remain inconsistent in their assessment of how climate change will impact UK flood risk, according to Flood Re CFO Stuart Logue.

Iumi: Marine sector must not back down from “ambitious” decarbonisation targets

Maersk’s director of sustainability and decarbonisation Matt Dunlop has called on the marine sector to push to achieve decarbonisation by 2050.

Lloyd’s in dialogue with LMA ahead of three-year sustainability roadmap launch

Lloyd’s is expected to publish a three-year sustainability roadmap next month, with the Corporation currently in discussions with the Lloyd’s Market Association over the plans, ESG Insurer can reveal.

WTW’s Young: Looking beyond traditional insurance to drive impactful resilience

Traditional insurance tools may not be useful for the development path of economies in the Global South, prompting the need to consider parametric solutions and pre-arranged trigger-based financing more widely, according to WTW’s Simon Young.

Dive In 2023: Harnessing D&I for long-term innovation in insurance

Lloyd’s head of culture Mark Lomas explains to ESG Insurer how diversity and inclusion programmes help to power the sector’s talent, innovation and relevance.

Sunak dilutes UK net-zero timelines for electric vehicles and heat pumps

UK Prime Minister Rishi Sunak has announced he will not ban new oil and gas projects in the North Sea, describing such a pledge as “unnecessary and heavy-handed”, while still affirming that the UK will meet its target to be at net zero by 2050.

SMI’s Insurance Task Force partners with UN Fund to address climate risks

The Insurance Task Force under the Sustainable Markets Initiative has signed a memorandum of understanding with the UN Capital Development Fund to scale insurance access in climate-vulnerable countries.

LMA launches ESG Academy to provide specialised risk training

The Lloyd’s Market Association has launched an ESG Academy to provide training for individuals within the Lloyd’s market and the wider global (re)insurance sector.

Iumi: Data sharing critical in net-zero transition

Effective data sharing is critical for the insurance industry to support its path to net zero, according to James McCallum, head of insurance – renewables and networks at SSE.

NYC Climate Week: Slow progress on SDGs highlights need for PPPs

Slow progress towards the UN’s Sustainable Development Goals means the global economy will now require a transformation rather than a transition to achieve emissions targets, according to former World Bank managing director Bertrand Badré.

Region

Topics

Events & Conferences

Content Types

Apollo and Africa Specialty Risks team up for potential 2024 Lloyd’s SPA

AM Best: US homeowners market remains challenged as pressures take toll

Brindle: Cyber is “scary” but we are now open to the idea

Suncorp delegation visits London, Munich to discuss cost of cat reinsurance

US severe convective storm losses top $50bn for 2023: Gallagher Re

Howden Tiger appoints Tim Ronda as CEO as Bredahl named exec chair of capital markets

Esser awarded £6.1mn damages in AFL fraud trial against former owners Alec and Bob Finch

Latest Articles

Safety National Re recruits Scor’s Steele for casualty treaty push

AssuredPartners targets aviation growth after recruiting Marsh’s Braunstein

BHSI names Carrer as head of casualty in Switzerland

Trump ruled liable for insurance and banking fraud

Paladin Cyber hires Wieber and Leanza and rebrands to Upfort

Alliant confirms AP’s Lonneman as EVP of Agribusiness

IIL elects Munich Re Syndicate’s Hoare as president

Vesttoo Collateral Concerns: In Focus

MGA and fronting sector faces tighter scrutiny in wake of Vesttoo scandal

Corinthian gets $50mn bridge capacity to begin replacing Vesttoo-sourced LOCs

Vesttoo bankruptcy judge reiterates stay over White Rock segregated accounts

White Rock provisional liquidators hit back at Vesttoo’s claim over control of cells

Conning: Diligence, reinsurance costs, ratings scrutiny among Vesttoo fallout

Fears of regulatory overreach on LOCs as Vesttoo scandal deepens

More News

McGill partners with Renew Risk on offshore wind cat models

Aon launches solution for financial institutions

Korean Re net income jumps threefold in H1

Scor names Dill COO; promotes Murphy to deputy CEO L&H

Saga pulls sale of underwriting business citing market conditions

Helvetia posts 94% combined ratio in H1

Saga 6M combined ratio slips to 136.4%

Hiscox sells DirectAsia business to Ignite Thailand

Moody’s maintains negative outlook on UK P&C as claims and reinsurance costs spike

Viewpoint

2023 North Atlantic hurricane season: Tug of war continues between El Niño and SSTs

Opportunity realised with strategic management of global volatility

At a turning point

The role of technology in the future reinsurance paradigm

Meeting the cyber challenge

Striking the balance: Data and expertise in reinsurance renewals

#ReinsuranceMonth

Moody’s RMS’ Rahnama: 2020-2030 nat cat losses to nudge ~$2trn

Scott Egan: Opportunity abounds to build on SiriusPoint’s “demonstrable” progress

IGI’s Jabsheh: Too soon to even consider property cat rate reductions

Scor’s Bartlett: Nat cat retreat validated by 2023 losses

Everest’s Izzo: Cedant demand driving fac market to new heights

Aon’s Moore: MGAs will continue to succeed in niche areas

Moody’s Analytics’ Ingram: “We’re doubling down on cyber”

Hiscox Re’s Wilken: Reinsurers must continue to rein in peril scope and maintain discipline

eReinsure’s Best-Devereux: Technology delivers for customers, if used strategically

Cyber: The defining risk of our time

Everest’s Klinger: $1.5bn capital raise “exceeded expectations”

Brit shows blueprint on how Apollo may exit $3.5bn+ Aspen

2023 North Atlantic hurricane season: Tug of war continues between El Niño and SSTs

Guy Carpenter Symposium set to examine potential role of alternative solutions at 1.1

MENA reinsurers to benefit from positive pricing momentum into 2024: AM Best

WSIA 2023

RPS’ Manny Cho: Buyer’s market in ML/PL to continue for foreseeable future

WSIA ’23: After property rehardening, will casualty follow suit?

Markel’s Noble: Complexity and volatility is where specialty carriers thrive

RT Specialty’s McCormack: No slowdown in E&S market momentum

Godhwani: BHSI benefits from Berkshire balance sheet and long-term view

Selective targets E&S growth as it looks to broaden sector distribution

Wildfire MGA Delos in talks to launch SME commercial property, HNW HO programs

NormanMax gets initial Lloyd’s approval to launch parametric Syndicate 3939

Canopius enters US excess casualty with DiBattista hire

Everest Insurance unveils $1.1bn+ US wholesale and programs market division

Strong growth trajectory to continue in $100bn+ E&S market as property leads the way

WSIA ’23: with greater power comes greater responsibility

The Insurer TV - highlights

Scott Egan: Opportunity abounds to build on SiriusPoint’s “demonstrable” progress

IGI’s Jabsheh: Too soon to even consider property cat rate reductions

Scor’s Bartlett: Nat cat retreat validated by 2023 losses

Crawford’s Verma calls on industry to proactively address talent and skills shortage

Aon’s Moore: MGAs will continue to succeed in niche areas

Dual’s Johnson: Diversified portfolio and sustainable results key to attracting strategic capacity

Hiscox Re’s Wilken: Reinsurers must continue to rein in peril scope and maintain discipline