Analysis

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Cali wildfire disclosures, data now pointing to circa $15bn loss

2018 now appears odds on to have exceeded last year in terms of insured losses from the California wildfires following a series of disclosures and loss estimates late last week.

Ardonagh-debt

Ardonagh debt weighs heavily as UK broker sells assets

*Debt yielding circa 11 percent ** New $235mn bond takes issuance beyond £1bn *** Acquires Nevada 3 assets at near 30 percent premium to cost

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The ILS juggernaut faces a bump in the road

It looks increasingly likely that the vast ILS market - estimated to have grown to a new record size of $98bn - will now plateau or even shrink slightly at year-end.

Cali-wildfire-events-2017-2018

California’s Camp Fire now the worst ever insured wildfire loss at $7.5bn+

The ferocious Camp wildfire will be fully distinguished later this week with firefighters finally aided by rain that will sweep into northern California later this week.

Lloyd's building

Lloyd’s 2019 focus now shifts to capital

*LoC deadline first; coming-in-to line 30 November ** Will all syndicates get capital in place? ***Losses, withdrawals and capital loadings add to squeeze

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Berkshire Hathaway’s modest Q3 cat bill of $372mn a fraction of rivals

After a 2017 cat loss bill of $3bn, Berkshire Hathaway’s 3Q 2018 modest cat losses of $372mn are a fraction of rivals, such as AIG’s hefty $1.62bn and Swiss Re’s $1.1bn.

Ren-Re-share-price-i

Analysis: RenRe’s $1.5bn TMR move cements strategic play

Shares in RenaissanceRe were trading off around 5 percent this morning in New York as some investors reacted negatively to news of the Bermudian’s $1.5bn deal to buy Tokio Millennium Re (TMR).

Emirates towers in dubai at dawn

‘Alternative capital hasn’t tapped into Eastern Europe or MENA yet’: Aon

Cedants in Central and Eastern Europe, Middle East and North Africa are yet to fully embrace the burgeoning alternative capital markets, according to Aon’s Tomas Novotny

Trust-Re-sand

Trust Re downgrade the latest in shifting sands for Middle Eastern carriers

Trust Re’s downgrade this week below the critical AM Best A- threshold is the latest setback for Middle Eastern carriers in 2018. Re-Insurance tracks all the developments…

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GIC Re expands on back of Indian agri-re boom

The rapid growth in India’s agricultural insurance market means GIC Re is now responsible for the industry’s largest non-US agricultural reinsurance treaty with the firm experiencing a doubling of inwards gross premiums for the class in only one year.

Top-10-reinsurance-brokers-by-revenues-table

MMC-JLT deal makes space for Holborn as top-10 reinsurance broker

MMC’s unexpected $5.6bn deal to acquire JLT, which will cement Marsh’s position as the world’s largest intermediary, will promote US broker Holborn into the number ten slot in Re-Insurance’s list of largest reinsurance brokers by revenue.

Lloyd's-still-in-AY-loss-territory-without-reserve-releases-i

Underlying Lloyd’s H1 2018 CR stubbornly above 100%

The challenges faced by Lloyd’s head of underwriting Jon Hancock to restore Lime Street’s underwriting fortunes were highlighted last week when, on an underlying basis, it was revealed Lloyd’s syndicates lost money from underwriting in H1 2018 with an accident year combined ratio of 101.2 percent, analysis by  reveals.

Brexit

Brexit whitepaper presents 'worrying' challenge for brokers

As plans for mutual market recognition are thrown off the negotiating table, the market now has to make the most out of “enhanced equivalence”, a term not so easily defined by brokers

lloyds sign

Is Lloyd’s facing an existential crisis?

Industry sources question the Corporation’s ability to change as much as it needs to in order to maintain its relevance

John-Neal-&-Canegie-Brown-Lloyd's

Spotlight on Lloyd’s and its reform agenda

The focus is on Lloyd’s – and its new CEO-elect John Neal – at this year’s Rendez-Vous. But what the recent recruitment process also revealed was how chairman Bruce Carnegie-Brown expects to see positive change implemented in the market…

aon london office

Reinsurance brokers big and small find growth opportunities

Reinsurance intermediaries from across the size spectrum are continuing to find opportunities to grow as many buyers appear willing to look beyond the traditional giants of the sector for specific transactions.

Lockton-1

​Lockton latest retailer to add capital markets capability

Initially, it was sole preserve of the reinsurance intermediaries but now the large retail brokers are developing capital markets arms to cater for the growing appetite of ILS investors to have access to primary insurance risk.

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Carnegie-Brown: Six requirements for next Lloyd’s CEO

Those who care about Lloyd’s are assured about the way chairman Bruce Carnegie-Brown is leading the process to select the Corporation’s next CEO.

Lloyd's, City of London

The Hartford the latest to tap into Lloyd’s with Navigators acquisition

With the news this morning that The Hartford has inked a deal to acquire Navigators, another Lloyd’s business could find itself in the hands of an international insurance giant.

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Lloyd’s 2017 loss deteriorates by £400mn fuelled by Irma

Lloyd’s net loss for 2017 has climbed by £399.9mn as a number of syndicates have had to bolster reserves following additional claims notifications from last year’s cat losses and, in particular, Hurricane Irma.

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