London

MGAs expect resurgence in carrier partnerships following pandemic challenges

2021-09-17T07:12:00+01:00

Confidence is returning among MGAs with the sector expecting its number of carrier partnerships to pick up in 2022 following a challenging period due to Covid-19 and the Lloyd’s Decile 10 initiative.

KBW 1.1 renewals

Agg covers to become area of focus at 1.1 as average rate increases of 2-3% predicted

2021-09-16T11:12:00+01:00

Reinsurers’ appetite to write aggregate covers has narrowed further, with the European floods and the prospect of deteriorating Hurricane Ida losses leading to higher attachment points and reduced coverage, according to KBW analyst Meyer Shields.

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Insuramore: Global delegated authority premiums hit $100bn in 2020

2021-09-16T02:39:00+01:00

Premiums in the global delegated underwriting authority market totalled $100bn in 2020, according to estimates from Insuramore, with revenues generated by MGAs, MGUs and coverholder groups hitting $12.5bn fuelled by growth in E&S lines and mounting interest in specialist risk classes such as cyber.

Broker moves

Broker carousel settles after frantic 18 months

2021-09-15T13:00:00+01:00

The Insurer looks back at an unprecedented period for major personnel movements among (re)insurance brokers.

Covid PPPs

Cordial but inactive: Covid-19 has tested reinsurer relationships with governments

2021-09-15T13:00:00+01:00

The Insurer tracks the evolution of the sector’s relationship with policymakers following calls for public-private partnerships to address pandemic risk in light of Covid-19.

Envelop SoftBank

SoftBank’s groundbreaking $130mn cyber reinsurance deal has its roots in 2018 Swiss Re talks

2021-09-14T09:58:00+01:00

Earlier today, SoftBank led a $130mn Series B investment in MS Amlin-backed cyber reinsurance MGA Envelop Risk. However, as The Insurer highlights, SoftBank’s interest in the sector goes back to 2017/18.

MS Amlin

MS Amlin: The talent challenge

2021-09-08T12:21:00+01:00

The carousel of senior personnel at MS Amlin has continued to spin over the past two years, with a number of high-profile departures – and subsequent arrivals – at the MS&AD-owned carrier.

Overall price increase

CEOs bullish on US commercial insurance rates despite Q2 moderation

2021-09-08T12:14:00+01:00

Reinsurers will be closely monitoring underlying insurance rate trends as the key 1 January renewal date nears. For US commercial pricing, deceleration has become a common phrase to describe the current environment. 

Willis Re

Willis Re: Reinsurance capital up 4% in H1 driven by strong net income

2021-09-08T07:29:00+01:00

Global reinsurance total dedicated capital grew to $688bn in the first half, up 4.3 percent from the start of the year, according to the latest Reinsurance Market Report from Willis Re, with the reinsurance broker’s international chairman James Vickers telling this publication that reinsurers are still struggling to cover their ...

Top 10

Top 10 Reinsurance Broker Rankings

2021-09-08T00:47:00+01:00

The M&A saga involving two of the big three firms may have dominated news flow over the last 18 months, but 2020 revenue numbers compiled in our latest survey show signs of traction for the phalanx of small to mid-size rivals looking to benefit from the disruption…

Lloyd's

Argo Syndicate 1200: A litmus test for Lloyd’s M&A

2021-09-07T07:14:00+01:00

As this publication revealed yesterday afternoon, Bermudian Argo has put its Lloyd’s operation Syndicate 1200 on the block.

ILS

AM Best: Robust ILS market shakes off cat losses and Covid concerns

2021-09-03T20:51:00+01:00

The insurance-linked securities (ILS) market remains in robust health with catastrophe bond issuance on the rise while collateralised capacity has grown and interest in sidecars has rebounded after a downturn in 2020, according to AM Best.

Stocks

P&C insurance stocks gain in August

2021-09-01T15:14:00+01:00

US and European P&C insurance benchmark indices posted gains in August with equities buoyed by continued investor optimism even amid uncertainty surrounding the Delta variant of the coronavirus.

Fitch Ratings

Fitch: Berkshire Hathaway overtakes AIG in E&S ranking by 2020 DWP

2021-09-01T14:19:00+01:00

Berkshire Hathaway wrote more excess and surplus lines (E&S) premium in 2020 than AIG while the overall E&S market’s performance is tipped to improve this year after its combined ratio deteriorated to 107 percent last year, a new analysis from Fitch shows.

Fossil fuels US EU Japan

European carriers outpace US and Japanese rivals on fossil fuel restrictions

2021-09-01T12:50:00+01:00

European (re)insurers continue to outpace their counterparts in the US and Japan in making commitments towards restricting underwriting for fossil fuels.

Hurricane Ida in the Gulf of Mexico

$18bn+ Ida brunt expected to weigh on personal lines

2021-09-01T12:44:00+01:00

Hurricane Ida looks to be developing a loss profile where claims are more heavily weighted to personal than commercial lines – albeit less so than with last year’s Hurricane Laura – and where a meaningful share will be taken by the E&S market and reinsurers, both represented in Lloyd’s.

12 themes

12 themes for #ReinsuranceMonth

2021-09-01T12:42:00+01:00

If the Monte Carlo Rendez-Vous were to take place this month, what would be the major issues discussed? We have consulted with the oracles of the industry and this is our definitive list of the 12 macro themes that are driving CEO thinking. Throughout September, we will examine all of ...

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AM Best: Reinsurance remains stable as improved pricing offsets claims concerns and abundant capital

2021-08-31T01:52:00+01:00

AM Best has maintained its stable outlook on the global reinsurance industry with improved pricing trends in the majority of business lines helping to offset growing claims uncertainty – notably around Covid-19 - and what the agency described as an “abundance of capital”.

US Umbrella excess casualty

Aon: rate increases on large, complex umbrella/excess slow to 15% in Q2

2021-08-27T14:49:00+01:00

Data from Aon has revealed a significant deceleration in average rate increases for large, complex umbrella/excess casualty accounts in the US from 44 percent in Q1 to 15 percent in the second quarter of 2021.

Recent investments

Private equity continues to strengthen its grip on the legacy market

2021-08-25T07:30:00+01:00

The completion of CVC Capital’s ~$1bn takeover of legacy specialist RiverStone Europe from Fairfax Financial Holdings earlier this week marks the latest capital injection from private equity into the run-off sector.