JMP – Florida

Florida renewal points to “sustainable hardening” in reinsurance market: JMP

2020-05-28T14:31:00+01:00

The average rate increases of 25 to 35 percent at the 1 June Florida renewal following significant price rises at the 1 April Japan renewal indicate a sustainable hardening in the reinsurance market, JMP Securities analysts have said.

AIG – Wall St

AIG shares surge 31% in month-to-date as Euro-P&C rally fades

2020-05-28T11:44:00+01:00

Shares in AIG have climbed over 31 percent since the beginning of May as stock in the US insurance giant rebound markedly from a bruising first quarter sell-off which saw values hit their lowest level since the start of 2012.

Hiscox

Hiscox Syndicate 6104 forecasts another heavy loss year

2020-05-28T07:09:00+01:00

Hiscox Syndicate 6104 is forecasting a bruising mid-point loss of 70 percent capacity for the 2019 underwriting year of account, making it by some distance the worst performing syndicate backed by third-party capital under Lloyd’s traditional three-year accounting system.

Pie Insurance

Sirius-backed Pie to form and buy insurers after $127mn capital raise

2020-05-28T16:19:00+01:00

Workers compensation insurtech Pie Insurance is to use most of the proceeds from $127mn of new financing and capital commitments to form and purchase licensed insurers.

Paul Hyer – Lockton

Lockton Re adds to advisory capabilities with Aon’s Hyer

2020-05-28T12:27:00+01:00

Lockton Re’s bid to build out its roster has seen the expansive reinsurance broker bring in Paul Hyer from Aon as rating agency advisory leader, The Insurer has learned.

AIG – Wall St

AIG shares surge 31% in month-to-date as Euro-P&C rally fades

2020-05-28T11:44:00+01:00

Shares in AIG have climbed over 31 percent since the beginning of May as stock in the US insurance giant rebound markedly from a bruising first quarter sell-off which saw values hit their lowest level since the start of 2012.

Hiscox

Hiscox Syndicate 6104 forecasts another heavy loss year

2020-05-28T07:09:00+01:00

Hiscox Syndicate 6104 is forecasting a bruising mid-point loss of 70 percent capacity for the 2019 underwriting year of account, making it by some distance the worst performing syndicate backed by third-party capital under Lloyd’s traditional three-year accounting system.

Pie Insurance

Sirius-backed Pie to form and buy insurers after $127mn capital raise

2020-05-28T16:19:00+01:00

Workers compensation insurtech Pie Insurance is to use most of the proceeds from $127mn of new financing and capital commitments to form and purchase licensed insurers.

Paul Hyer – Lockton

Lockton Re adds to advisory capabilities with Aon’s Hyer

2020-05-28T12:27:00+01:00

Lockton Re’s bid to build out its roster has seen the expansive reinsurance broker bring in Paul Hyer from Aon as rating agency advisory leader, The Insurer has learned.

cartoon

Aon-WTW: A marriage made in Miami

2020-05-11T11:46:00+01:00

Less than two months after MMC’s audacious £4.3bn swoop for JLT, Aon Group CEO Greg Case presented the merits of a deal with rival WTW in a November 2018 Aon London Board meeting, an SEC proxy filing shows.

Guessing game

(Re)insurers need all the friends they can get if Covid-19 is an $80bn+ loss

2020-05-01T14:21:00+01:00

Earlier today, a report from Willis Towers Watson estimates the P&C industry could face up to $140bn in Covid-19 related insured losses in an “extreme” scenario and $80bn in a “severe one”.

Industry heavyweights

Heavyweight support puts Pool Re in pandemic pole position

2020-04-22T07:31:00+01:00

Number 11 Downing Street – the home to the UK’s Chancellor of the Exchequer – has recently entertained three different early-stage propositions on how it could work with the insurance industry over a future pandemic reinsurance solution.

motor

Pricing and regulatory pressures to hinder UK motor sector growth: Investec

Despite UK personal lines insurers materially outperforming the rest of the insurance market during the Covid-19-driven sell-off in the first quarter of 2020, investment bank Investec has offered a pessimistic view for the sector with price competition and regulatory pressures set to hinder growth into 2021.

Euro-listed

Beazley and Lancashire lead green week for Euro-listed P&C stocks

London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.

A Bill

Problems with Pria spur trade groups into action

US industry trade groups have suggested their own proposal for covering future outbreaks, and provide a number of reasons for why they want the Pandemic Risk Insurance Program (Pria) proposed by House Democrats to be ripped up.

motor

Pricing and regulatory pressures to hinder UK motor sector growth: Investec

Despite UK personal lines insurers materially outperforming the rest of the insurance market during the Covid-19-driven sell-off in the first quarter of 2020, investment bank Investec has offered a pessimistic view for the sector with price competition and regulatory pressures set to hinder growth into 2021.

Euro-listed

Beazley and Lancashire lead green week for Euro-listed P&C stocks

London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.

A Bill

Problems with Pria spur trade groups into action

US industry trade groups have suggested their own proposal for covering future outbreaks, and provide a number of reasons for why they want the Pandemic Risk Insurance Program (Pria) proposed by House Democrats to be ripped up.



Congress and covid-19

PRIA takes step forward but carrier scepticism remains…

The Pandemic Risk Insurance Act of 2020 (Pria) has now been formally introduced with heavyweight support from MMC and RIMS but it would be an exaggeration to say the insurance industry is unanimously lined up behind it.

US Commercial insurance pricing

Harder and longer

If it looks and feels like a hard market, then it probably is a hard market. And the latest data points after the bank holiday weekend suggest there’s plenty of fuel to keep up US commercial insurance pricing momentum with the Covid-19 effect only set to drive the hard market ...

Class of 2005

Capital raises, downgrades and de-risking …so, what about the start-ups?

We’ve experienced the downgrades (Axis, Generali), and we’ve had the equity raises (QBE, R&Q, Hiscox and earlier this week, Beazley).

Congress and covid-19

PRIA takes step forward but carrier scepticism remains…

The Pandemic Risk Insurance Act of 2020 (Pria) has now been formally introduced with heavyweight support from MMC and RIMS but it would be an exaggeration to say the insurance industry is unanimously lined up behind it.

US Commercial insurance pricing

Harder and longer

If it looks and feels like a hard market, then it probably is a hard market. And the latest data points after the bank holiday weekend suggest there’s plenty of fuel to keep up US commercial insurance pricing momentum with the Covid-19 effect only set to drive the hard market ...

Class of 2005

Capital raises, downgrades and de-risking …so, what about the start-ups?

We’ve experienced the downgrades (Axis, Generali), and we’ve had the equity raises (QBE, R&Q, Hiscox and earlier this week, Beazley).