Reinsurance renewals

A tale of two reinsurance buyers

As earnings season gathers pace in the coming week a common theme from carriers that have reinsurance businesses is likely to be momentum in pricing across the sector building towards 1 January and other key renewal seasons in 2021 as the market moves into hard market territory.

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.

Coronavirus and court

Recent rulings signal some pain ahead in US Covid-19 BI litigation

Four rulings on motions to dismiss Covid-19 cases this week – two of which involved dental practices – show that the hundreds of cases arising from the pandemic are likely to cause some gnashing of teeth among insurers despite the industry having the upper hand.

Hurricane Season

Floridians’ geographical gain = Q3 pain

Diversifying outside of Florida in recent years through M&A and organically adding state licenses has been a tactic deployed by a number of homeowners carriers seeking respite from the challenges of the Sunshine State.

Program manager

Access all areas

In a “normal” year it’d be about this time we’d be finalizing our schedules, putting the slacks and sports jackets into the cleaners and prepping up for Target Markets.

Reinsurance renewals

#REinsuranceMonth sets tone for the path to 1.1

Welcome to the fifth edition of The ReInsurer, our weekly publication throughout September which has brought you news and insight into reinsurance market developments.

Elliot Richardson

The power of independence

Ahead of RKH Reinsurance Broker’s imminent rebrand to Howden Reinsurance Brokers later this week,The ReInsurer caught up with Elliot Richardson, chairman of the intermediary to discuss the forthcoming 1.1 renewals, the Lloyd’s opportunity and the ability to be a challenger.

Retro 1.1 renewals

Will retro hardening fuel reinsurance rating momentum at 1.1?

This week’s edition of The ReInsurer takes an in depth look at what is going on in the retro market, both through our lead news story and our latest virtual panel discussion focused on ILS.

Homework

Will the FCA decision be overturned on appeal?

Earlier this week, the UK insurance industry lost a seismically important court case brought by the financial regulator, the FCA.

Hiscox share price

To appeal or not to appeal?

If the Monte Carlo Rendez-Vous had taken place this week then one of the key topics of conversation among delegates would have been yesterday’s decision in the High Court regarding UK insurers’ liability for Covid-19 BI losses.

FCA – High Court

Clarity… but not closure

In only a few hours time we will discover the outcome of a critically important Covid-19 legal test case in the UK High Court.

Jason Howard, CEO of Beach

Why reputation and relevance has never mattered more for our industry

So far, 2020 has been a year like no other – we are still navigating the effects of the global Covid pandemic, rates are hardening, and there has been a flurry of capital raising initiatives.

Author(s)- Suki Basi, managing director, Russell Group

Trade winds

Russell Group’s Suki Basi outlines the important role of trade in global economics, urging the (re)insurance industry to look more closely at its exposures.

Maria Lomelo, director – model product management, RMS

Making sense of a changing pandemic picture

The world is still learning about Covid-19 and how to cope with it, and as RMS’ Maria Lomelo said, this balancing act is proving to be a tough one to master.

Ekaterina Ishchenko, director - credit analyst, EMEA Insurance, Fitch Ratings

Lloyd’s down, but primed to meet the challenge

While Covid-19 losses pushed Lloyd’s to a loss for the first half of 2020, a significantly improved underlying performance is a promising sign, says Fitch’s Ekaterina Ishchenko.

David Unsworth, Senior Broker, TigerRisk Partners

The power of the flywheel

For David Unsworth, the flywheel concept captures TigerRisk’s core strategy as the team pushes forward as one to solve tomorrow’s business challenges.

Dirk Lohmann, chairman and Mark Gibson, ILS Solutions Manager at Schroder Secquaero

Improving the capitalisation structure of the industry

Capital allocation within Lloyd’s and run-off are two key focus areas for Schroder Secquaero as it continues to investigate innovative, alternative capital diversification structures for current and prospective clients.

Simon Burtwell, EY Partner, UK Insurance Consulting Leader

Change agents

EY’s Simon Burtwell on how a new and more dynamic value exchange will fuel growth in large commercial and reinsurance business.