Axa XL Reinsurance has appointed Mark Twite as Bermuda CEO, with the executive replacing Paul Simons who was revealed by this publication to have left the carrier to take a senior role at Convex.
Canopius’ deputy head of reinsurance Chris Gray is set to join Axis as head of marine reinsurance, The Insurer can reveal.
Europe’s big four reinsurers will incur property cat reinsurance losses of between $1.5bn and $2.7bn based on Hurricane Ian being a $25bn to $35bn insured loss event, according to preliminary estimates by Berenberg.
EMC Insurance Companies is shuttering its assumed reinsurance business at the end of the year, with the company currently considering options for the management and/or run-off of the platform’s existing business.
Guy Carpenter chairman David Priebe has said he is hopeful reinsurers and cedants can come to a “meeting of minds” on the thorny subject of how to address inflation at the upcoming 1.1 renewals, with discussions already taking place around the issue.
While upward pricing pressure presents opportunity for reinsurers at the upcoming 1.1 renewals, the sector is facing a moment of vulnerability as it addresses challenges in delivering adequate returns on capital while maintaining relevance to clients.
Discussions around the impact of macroeconomic uncertainties at the upcoming 1 January renewals are centred on inflationary assumptions, according to participants in Aon’s reinsurer panel fireside chat.
One of the key takeaways from this year’s Rendez-Vous in Monte Carlo was just how challenging the next few months will be for many cedants and their reinsurance brokers as they look to place their 1.1 treaties.
Public statements compiled by this publication from 19 reinsurers throw a spotlight on the contrasting strategies around property cat appetite, ahead of what is expected to be one of the most challenging January renewals in years.
Monte Carlo attendees were “universally upbeat” on property reinsurance pricing trends, according to a new report from Moody’s, with some European reinsurers stating market conditions have “never been more positive”.
French state-owned reinsurer CCR has confirmed plans to offload a €200mn stake in its open market international reinsurer CCR Re by July 2023, in a move designed to fuel the unit’s ambitious target to become a €2bn gross written premium business within five years.
The trend for global reinsurers to exit or limit Latin American business has opened up opportunities for domestic reinsurers and those outside the region to participate in lower layers, AM Best has highlighted in a new report.
Dan Osterrieder, head of casualty North America at Axis Re, answers our questions on the state of the market…
Reinsurance executives on second quarter earnings calls expected continued pricing improvements at the upcoming 1 January renewal but this comes against a backdrop of the uncertainty caused by inflation and some pulling back from property business in response to volatility.
Insurance executives are in agreement that US P&C rate increases are moderating, in contrast to the increasing loss cost assumptions revealed by some carriers, but there is confidence discipline will be maintained.
Howden RE has swooped on Gallagher Re for senior producer Martin Ford shortly after his former retro specialist colleague James Troughton has tendered his resignation from the intermediary and been linked with a move to TigerRisk, The Insurer can reveal
If there was a sentence least likely to be uttered by an underwriter at any Rendez-Vous of the past decade then: “I do feel sorry for those overworked reinsurance brokers” would be high on that list.
The last two years tested nerves in the casualty market, but the worst fears failed to materialise. TigerRisk’s Joshua Everdell examines how experience and judgement can help reduce the stress…
The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – continues to outpace the overall market with a 6.8 percent year-to-date fall in net total return terms, compared to an 18.2 percent drop on the MSCI World (Net) USD index.
The combined Howden Tiger will keep recruiting post-completion as it seeks to further cement its top four reinsurance broking position, according to Howden RE CEO Bradley Maltese.