Last year the industry was reminded of the importance of using accurate loss data triggers for ILWs. Will the lesson be learnt, asks Thomas Johansmeyer, co-head of PCS.
It’s not been a great year thus far for Bermuda’s (re)insurance industry and, by extension, the island’s economy.
As with broad market transitions of the past, there doesn’t appear to be any one catalyst driving what looks to be a long-awaited change in the US commercial insurance market.
The 2019 Florida renewal is proving hard to navigate for reinsurance buyers and commentators alike, amid conflicting intelligence and chatter in Bermuda and elsewhere.
Tomorrow morning, Lloyd’s brokers and underwriters will gather for the publication of CEO John Neal’s plans to transform the fortunes of the market.
The prospect of a late renewal where underperforming cedants face a rise in reinsurance costs of perhaps 25 percent or more heralds another day of reckoning for some of the state’s smaller carriers.
Earlier today, The Insurer revealed that the alternative investment firm EnTrust is the likely bankroller to activist Voce Capital’s attack on Argo Group.
Travelers saw a strong increase in pricing momentum on its business insurance book, but specialty carrier RLI was more muted in its enthusiasm after “flat” E&S submissions and moderate rate hikes in the first quarter.
London D&F guru Les Rock has been out of the market for eleven years before his surprise return last month. Will he be just as successful this time round or has the fac market immeasurably changed over the past decade? The Insurer finds out…
The influence of adverse loss development on “short-tail” wind risk is proving a common theme in Japanese and Florida negotiations. But the reinsurance buying culture in the two markets couldn’t be any more different.
Another heavy loss-year and the recent negative headlines have presented Lloyd’s CEO John Neal with an opportunity to galvanise his mandate for change tomorrow. He started a day early with a decisive response on sexual harassment reports.
Although post-M&A redundancies are never easy to stomach, the gutting of the senior ranks at Tokio Millennium Re (TMR) was a widely anticipated outcome from the moment RenRe announced a deal to buy the reinsurer from Tokio Marine for just over book value last October.
As the market leader among ILS funds writing US cat risk, a tougher approach from Nephila at the Florida renewal could help support impetus for upwards rate movements, even if “risk-adjusted” rates don’t move as much, reflecting the reassessment of risk by reinsurers.
Ari Chatterjee, Bermuda-based head of underwriting at cyber (re)insurance MGA Envelop Risk, partnering with MS Amlin capacity, analyses the nascent cyber reinsurance market after the 1.1 renewals and notes clear signs of market maturing…
In the past week, bitter disputes on both sides of the Atlantic over broker defections have provided textbook examples of what not to text. For broking companies – and any other participants in the (re)insurance industry – they provide a worrying reminder that they should beware what their executives are ...
If the adage ‘bad news travels fast’ is to believed, then word of Bermuda’s addition to the European Union’s tax haven blacklist last week must have been reverberating around the island in next-to-no time.
This morning, The Insurer revealed that the bitter - and very personal - legal dispute between Gallagher and UK broking Group Ardonagh had finally begun.
Where next for Aon and Willis and indeed how will the global broking landscape change over the next 12-24 months?
There were at least three reasons to welcome the UK Security Minister’s announcement earlier today that British anti-terrorism agencies are partnering with Pool Re to build a new public information exchange, funded by the country’s insurers.