Upsized Citizens reinsurance shows ill-health of FL homeowners market
An extra $1.6bn of year-on-year demand for cat limit to support a fast-growing carrier would typically be welcomed by reinsurers, but the rapid expansion of Florida’s insurer of last resort only serves to highlight the plight of the state’s homeowners market. As reported by this publication last ...
HCI’s TypTap strategy is paying off
At a time when most Florida homeowners carriers continue to struggle with a challenging operating environment, shares in HCI Group surged almost 30 percent in trading this morning.
The perils of ignoring Cuthbert Heath…
With the exception of AIG, the insurance industry had a decent financial crisis when the icy chill winds gripped Wall Street almost 13 years ago and the bankers became public enemy #1.
Uri – unmodelled and under-priced?
The giant winter storm that froze Texas (and other states) last week has been described in some quarters as being closer to a hurricane in its footprint and some of its attributes than a typical extreme weather event at this time of year.
A year’s pause for the IG
Tomorrow – 20 February – is a well-known date in the marine (re)insurance calendar for two reasons.
Rising replacement costs – the next major claims inflation challenge?
Escalating replacement costs are threatening to drive up the cost of recent US catastrophe events, with broker Aon likening the challenge to the assignment of benefits (AOB) issue which pushed up claims costs in Florida following Hurricane Irma in 2017.
Plucking the industry…
Around the time that Edward Lloyd opened his City of London coffee shop, Jean-Baptiste Colbert was neatly summarising the delicate line which a chief finance minister must tread.
Covid-19 claims short-tail momentum slows…but long-tail remains uncertain
Two disparate views have been put forward about the future Covid-19 claims trajectory, with one suggesting we are on course for a sustained period of losses potentially costing the industry well in excess of $100bn, while the other suggests loss activity is tailing off and will largely be contained in ...
Is Antares’ Lloyd’s China exit latest sign of a wider trend?
Antares’ decision to place the Lloyd’s China operation at Syndicate 1274 into run-off – announced earlier this week – is the latest in a series of moves by market participants to rationalise international operations.
Chubb highlights the primary v reinsurance divide
There has been no shortage of earnings call commentary supporting the view that commercial insurance pricing momentum remains strong at the start of 2021. But the scale of increases over loss cost trends reported by Chubb this week was arguably the most bullish assessment of the market environment yet.
Data points highlight E&S momentum as new players line up
US commercial insurance pricing was always likely to be a strong focus for investors during the Q4 earnings season, and the indication from early reporting carriers and brokers is that the momentum that is drawing new players to the E&S segment is holding on strong.
UK motor insurers put brakes on Covid-19 goodwill measures
A survey this week from UK consumer watchdog Which? revealed only one in five British drivers received a premium refund from their motor insurer last year despite the strict Covid-19 lockdown measures in place for much of the first half of 2020.
Six key takeaways from the Aon-WTW post/deal structure
Aon’s acquisition of Willis Towers Watson (WTW) is still a way from completion – after all, it was little more than a month ago that the European Commission elevated its competition inquiry into Phase II.
Is the spectre of US casualty reserve deficiencies set to loom over 2021?
Everest Re’s surprise $400mn casualty-focused reinsurance reserves charge, announced after markets closed last night, raises questions as to whether another wave of liability reserve strengthening may be set to follow in 2021.
Is it time for a female Lloyd’s deputy chair?
Despite the grandstanding of his predecessor, John Neal has delivered more to assist the cause of gender equality than any Lloyd’s CEO before him.
The E&S pull
After a number of start-ups and scale-ups were unveiled in 2020, Upland Capital Group has emerged as the first of a potential Class of 2021 to target the fast-hardening US excess and surplus lines market as investors and industry figures continue to be drawn to the sector.
US insurers off to a bad start to 2021 for Covid-19 BI rulings
The number of Covid -19 business interruption cases lost by insurers in US courts has doubled so far this year.
Fertile ground in the program sector draws fresh interest
Opportunities to access specialty insurance business and potential fee income continue to attract the attention of capacity providers to the US program sector.
All aboard the London IPO
That’s the thing about London (re)insurance IPOs. You wait for ages for one and then – just like buses – two come along at once.
Insurers’ DC riots response commendable but largely symbolic
Several major companies from the industry have taken a stand on political contributions following protestors last week storming the US Capitol and some lawmakers’ opposition to certifying the electoral college vote, but the steps taken so far are largely symbolic.
ESG looks set to top boardroom agenda in 2021
Will further capital raises in 2021 end market hardening?
Georgia on insurers’ minds
Finding a path to equivalence
1.1 renewals – Willis Re vs Howden
London market preparedness key to success in post-Brexit landscape
The MGA-carrier hybrid strategy
QBE and RSA: The three-lettered curse…
The rise of “secondary” perils
The frequency problem
Another outsider…
Craving contact in a people business
Three small letters that will be big in 2021
European giants look to seize US commercial risk opportunity
Catalyst for more broker consolidation?
Conduit Re’s Bermuda-only strategy serves as reminder of island’s start-up appeal
The lure of legacy…
High frequency of losses points to increased reinsurance demand
Covid-19 reinsurance recoveries: the next battleground?
Aon-WTW viewed through a different lens
$800mn Inigo is a vote of confidence in London and Lloyd’s CEO John Neal
Pool Re: Slivers of optimism despite a year to forget
The alternative path to cyber cat risk
Stage set for tense casualty renewal
The future at One Lime Street…
Fear of a hard market
Eta shines light on need for tools to build resilience and close protection gap
E&S drive continues
CoverHound sale is a sign of the times in insurtech
A day of optimism…
Goodbye RSA…
FedNat: a path not taken
Arch puts value on reputation
Climate of change
CinFin confident on BI exposure, but not everybody is so sure
Growing the Pie
CinFin back in the Covid-19 spotlight
A tale of two reinsurance buyers
The $350bn US legacy opportunity
Access all areas
Florida’s broken record jumps to a different tune
Trump news reminds insurers of the need for future pandemic solutions
#REinsuranceMonth sets tone for the path to 1.1
The power of independence
Recent rulings signal some pain ahead in US Covid-19 BI litigation
Floridians’ geographical gain = Q3 pain
Will retro hardening fuel reinsurance rating momentum at 1.1?
Will the FCA decision be overturned on appeal?
To appeal or not to appeal?
Clarity… but not closure