Golden goose

Emulate not end the Pool Re golden egg…

Next week the UK will have a new Prime Minister. Whether it is current favourite Boris Johnson or his challenger Jeremy Hunt, the new First Lord of the Treasury will arrive at Ten Downing Street to inherit the failed Brexit process, a divided country and a minority in Parliament. If ...

US commercial Insurance

Market psychology points to sustained pricing shift

It will not come as any surprise if a strong theme of the upcoming Q2 earnings season is bullish commentary from insurers on US commercial insurance pricing.

Pool Re Mind the Gap

Pool Re edges closer to closing the terrorism protection gap

News today of Britain’s state-backed terrorism reinsurer Pool Re’s £40mn ($50mn) retro placement for non-damage business interruption (NDBI) following a terrorist attack marks the latest step in the organisation’s journey towards closing the insurable gap for UK firms.

S&P and AM Best

The rating agency paradox: rewarding those who cut prices…

It is a long-established paradox that the industry’s de facto global regulators – rating agencies AM Best and S&P – use premiums written rather than net exposures relative to capital as a measure of financial strength. The outcome of this approach is that if insurers cut rates in a soft ...

lloydsbuidlinglandscape_6

Misrepresenting the market?

It could be argued that Lloyd’s CEO John Neal has achieved more in a matter of months than his predecessor Inga Beale did over the course of her five years in the role.

Aviation

New aviation entrants prepare for take-off…

News today of the launch of BGC’s new aviation broking intermediary is the latest in a series of developments for a sector which has had a busy – and at times turbulent – start to the year.

Dan Glaser and Vicky Carter – London

MMC helps London point to the positives after a year of bleak messaging…

This week sees the return of Marsh and McLennan’s (MMC) biennial gathering of talented, rising professionals who come to London from different continents for two days to hear from world class speakers on critical topics challenging the industry culminating in a show stopping gala dinner with stadium-filling superstars (such as ...

Litigation genie

Beware the consequences of the litigation genie…

In July, Judge Freedman will deliver his decision in the infamous poaching dispute between Gallagher and the Ardonagh subsidiaries in the UK High Court. It is a legal battle that has gripped observers of the London market with its revelations of a secret six-figure loan, offensive emails, clandestine meetings and ...

Willis Towers Watson – insurtech

The technology tipping point?

This week The Financial Times ran an interesting piece which riffs on the theme of hardening attitudes amongst insurers towards their investment in insurtech projects.

Hurrican Irma – Florida

Behaviour matters in Florida renewal

The commoditization of the property cat product became a recurring theme of the long soft market for reinsurance in recent years.

Tom Johansmeyer – ILW

What happens when an ILW trigger underdelivers? A critical look at 2018…

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.

E David Burt – Bermuda

Finally some good news for Bermuda…

It’s not been a great year thus far for Bermuda’s (re)insurance industry and, by extension, the island’s economy.

Jonathan Spry – Lloyd's

Lloyd’s not-so silent cyber clean up provides reinsurance opportunity

Co-founder and chief executive of cyber-focused InsurTech and MGA Envelop Risk, Jonathan Spry, applauds Lloyd’s mandate to eliminate non-affirmative or “silent” cyber risks from policies incepting from 1.1 next year and predicts it could provide a fillip for the nascent cyber reinsurance market…

John Neal – Goldman Sachs, McKinsey & Company, Deloitte, EY and Freshfields

Comment: Choosing the right partners…

John Neal has impressed many with his first nine months at the helm. He has made a conscious effort to re-engage with brokers, has deployed a “come and let’s chat” approach at odds with predecessors who were criticised by some for aloofness. He has also created a vision and an ...

CEA – Golden Gate Bridge

CEA seeks better balance between prevention and protection

Over the last two decades the California Earthquake Authority (CEA) has become one of the largest buyers of property cat reinsurance globally.

XL Group

XL’s injunction not “sneaky” in support of arbitration clause in UK D&O Policy

In a reassuring move for London market (re)insurers, the UK’s courts are imposing a wide jurisdiction to restrain foreign proceedings under insurance contracts bound by a London arbitration provision…

Key price predictions for remainder of 2019 i

A psychological shift

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.

Florida June Renewals Preview

Misinformation in a “late and messy renewal”

The 2019 Florida renewal is proving hard to navigate for reinsurance buyers and commentators alike, amid conflicting intelligence and chatter in Bermuda and elsewhere.

John Neal and Lloyd's taskforce

Ideas are easy, execution is the tough bit…

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.

Florida orange squeeze

Another day of reckoning for Floridians

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.