Analysis

Maiden's share price i

The risks that could stop Maiden conquering its troubles

Maiden Holdings’ delayed 10-K reveals the embattled Bermudian company believes it can continue as a going concern but warns further significant declines in shareholders’ equity could cause it to “re-evaluate that assessment”.

Lloyd's roundtable

Roundtable: what is the future of the independent broker?

Following yet another titan year of broker consolidation The Insurer – in association with Lloyds Bank – last month gathered a host of senior broking executives to garner insight into the implications and drivers of future M&A, the challenge of modernisation and how the regulator can better service UK and ...

Lockton logo

Lockton sues Alliant defectors to enforce 4-year restrictive covenants

The Insurer analyses Lockton’s legal filing seeking injunctive relief against seven producers, after mass resignations last week.

Bermuda, Hamilton

ILS funds turn to rated Bermudian Class 3As

ILS funds are sponsoring a flurry of new Bermuda Class 3A carriers, several of which are seeking AM Best ratings as they look to address trapped collateral and claw-back issues as well as seek greater access to (re)insurance risk, The Insurer understands.

US wildfire insured losses i

Wildfire lessons from Q4 earnings – “a secondary risk” no more

*(Re)insurers’ earnings calls suggest wildfire is no longer considered a secondary risk that should be included as part of the load for other perils

CatCo magnify glass

Why two fired CatCo executives believe Markel owes them $70mn

Tony Belisle and Alissa Fredricks last week sued Markel for incentive payments, saying they were wrongfully dismissed and the US insurer used unlawful means to uncover their personal relationship. The Insurer takes a closer look at their complaints.

AM Best – USA flag

US P&C underwriting loss narrows in 2018: AM Best

AM Best is maintaining a stable outlook for US property casualty insurance, but notes the industry will report its third underwriting loss in a row for 2018 and commercial lines pricing remains particularly challenging.

The march of ILS capital

Will the 2018 cats be a third-party capital pooper?

“Sceptical”, suffering “fatigue”, taking “a pause”, “reluctant to invest”, “a lot of concern” – descriptions of third-party capital during Q4 earnings season revealed a market under pressure. The question is whether continued contraction will force price increases as 2019 progresses.

Florida June Renewals Preview

Florida carriers brace for rate rises as reinsurers reassess risk

Florida cat rates to increase: but by how much? Insurer differentiation to feature; Brokers encourage early renewal amidst fears of capacity squeeze

J. Daniel Plants

Argo the latest to receive an activist missile with toe-curling allegations

The relatively comfortable world of P&C investing has been increasingly shaken up by activist investors and their penchant for angry letters and management demands in recent years.

AM Best

ILS scepticism growing as 20% of third-party capital remains trapped: AM Best

ILS fund managers are for the first time struggling to attract new investors and retain existing ones. A new AM Best reinsurance report reveals 20 percent of the 2018 total third-party capital is trapped in the funds, which is making third-party investors sceptical about the market.

John Howard

Analysis: BB&T sees insurance growth opportunities with SunTrust deal

BB&T’s proposed merger of equals with SunTrust is being billed by the bank as a significant growth opportunity for its $1.96bn revenue retail and wholesale brokerage operations.

russellgrouproundtable_edited

Roundtable: ‘Seismic change’ needed in sector attitude to risk

Senior industry executives gathered at a roundtable earlier this month to discuss how the (re)insurance market can best respond to the growth of unknown exposure within portfolios, who’s role it is to spearhead new product development and the challenges and opportunities this task offers.

Active and pipeline program fronting carrier start-ups i

R&Q fundraise comes amid inflow of capital to legacy and program sector

The move by Randall & Quilter Investment Holdings Ltd (R&Q) to raise £107mn in equity (plus a separate $70mn in debt)  to fuel its twin legacy and program underwriting expansion strategy follows a series of recent fundraising efforts and start-up initiatives in both arenas.

JLT Re’s risk adjusted global property catastrophe Re % change index

Disappointing 1.1 puts investors back on the defensive: Jefferies

Munich Re’s low leverage, “exceptional” reserve strength and diverse earnings mean it is well positioned to outperform its “higher risk” peers as investors take a more defensive stance to reinsurance stocks, according to a note from Jefferies analysts.

California wildfires 2018

PG&E bankruptcy to have limited impact on specialty carriers: AM Best

Specialty carriers that insure Californian utility firm PG&E are expected to swerve being majorly impacted by the company’s bankruptcy filing, AM Best has said.

CATco listed fund collapses in value over past 18 months i

CatCo: Investors told rates up to 43 percent higher

Under investigation ILS fund manager CatCo told investors in March 2018 that they should expect up to a 43 percent increase in returns because of price hardening following the 2017 loss events.

Hamilton-Syndicate-3334-combined i

“Motivated buyer” Hamilton keen to bolster struggling Lloyd’s platform

Bermudian (re)insurer Hamilton’s Syndicate 3334 is one of the worst performing Lloyd’s syndicates and this may part-explain the news earlier today that it is the front runner in the process to acquire Liberty Group’s up-for-sale Pembroke Managing Agency.

US directors’ and officers’ liability – Top 15 – direct CY loss and DCC ratios

#MeToo and cyber add to pressure on D&O profitability: AM Best

Directors and officers (D&O) underwriters are seeing profitability pressured by rates that are lagging behind increasing risks, competition from new markets and emerging trends such as #MeToo and cyber, according to AM Best.

Renewal pricing trends

Twin speed property market as casualty contradicts: Amwins

The US property insurance market continues to operate at two speeds, with significantly harder pricing trends for accounts exposed to catastrophe risk than for those that are not, according to Amwins.

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