Michael Garrison, head of wholesale at Navigators, at The Hartford, said the business hopes to realise further growth by becoming more proficient with data and developing technologies to facilitate enhanced underwriting decisions.
December 5, 2024
Close Quarter
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Concise and thought-provoking interviews with senior market experts, each articulating their thoughts on critical technical subjects within the industry.
New tech developments and artificial intelligence may be a buzzword for some; however, Navigators’ Lynanne St. Denis sees “so much upside right now” across not only the E&S space but widely the insurance sector as well.
Adopting a client-first focus in Europe is a key differentiator for Everest Insurance International as large clients in these markets have previously felt their needs were not fully being met, underscoring the necessity for a partner like Everest, the firm’s head of continental Europe has told The Insurer TV.
Retentions and reinsurance pricing are among the key focus areas for Asia Pacific (APAC) cedants ahead of the January renewal season, Guy Carpenter’s CEO for the region has said.
AI is making small business insurance more efficient by refining data handling processes, according to Amwins CEO Scott Purviance.
Close Quarter
MDUConnect will provide additional member services of a scale and depth that will “really differentiate itself” from anything else in the market, the firm’s insurance director has told
Niche insurers and carriers alike are showing a healthy interest in driving up business from the program sector, according to Paul Templar, chief executive officer at Vipr Solutions, a London-based provider of information technology products for the insurance industry.
Environmental risks such as PFAS and the concern they are causing admitted carriers is driving smaller businesses and their retail brokers to seek coverage in the E&S market through wholesalers, according to Sara Gundersen, EVP and head of E&S casualty at Sompo.
Broker Howden has called on the industry to deliver a “joined up” risk transfer chain to better service the growing needs of clients, and to be braver when addressing the unknown.
Just a few weeks into his new role as CEO of Aon Securities, Richard Pennay admits that “it’s certainly been an interesting time” having been met by the aftermath of two natural disasters.
“Frequency and severity, are driving the rebound and the rate improvement”. As a result of these rising rates, Stevens observed that cedants are retaining more risk.
The E&S market is well placed to capitalise on greater digitalisation and more reliable tools, said Stephen Buonpane, p resident of Everest Evolution, in an interview with
As the market transitions from the recent hard phase, MGAs and program administrators that have diversified portfolios are better placed to maintain profitability amid softening rates, according to Chris Pesce, national programs leader at One80.
In a world marked by uncertainty and volatility, there will be demand and value prescribed to reinsurance, according to Swiss Re’s Nikhil da Victoria Lobo.
Addressing the protection gap in Europe remains a top priority as secondary perils such as flooding and hail become more prevalent, according to Guy Carpenter’s Europe CEO Julian Enoizi.
One of the key takeaways from the recent Rendez-Vous de Septembre in Monte Carlo was the ongoing caution among reinsurers around casualty lines amid a complex risk landscape.
Portfolio diversification into specialty lines has fuelled recent growth in the credit and political risk market, although challenges linger around the sector’s reputation in the wake of the 2008 financial crisis, according to Guy Carpenter’s David Edwards.
Discussions at this year’s Baden-Baden Reinsurance Meeting will likely be driven by the fallout from recent US hurricane activity, as well as European secondary peril impacts and ongoing inflationary pressures, according to Guy Carpenter’s Laurent Rousseau.
Axa XL’s Americas CEO Lucy Pilko has predicted continued growth in the E&S market on the back of emerging risks such as cyber and environmental liabilities.
Miles Wuller, president and CEO of Ryan Specialty Underwriting Managers, has said that the growing synergies between MGAs and the E&S market are driving significant industry shifts.
Despite recent hurricane impacts in the southeast US, Nationwide’s David Nelson is still positive on the E&S market, helped by a continuing migration to coastal cities.
Mike McKenna, head of North America at Axis, believes the continued hardening of the casualty market is crucial for the sustainability of the industry, citing rising loss costs and complex risk environments as driving factors.
In a rapidly changing risk landscape, reinsurers must adapt to client-specific needs rather than solely focusing on rate cycles, according to Matthew Moore, president of underwriting at Liberty Mutual Global Risk Solutions.
E&S accounts have delivered mixed returns so far in 2024 amid a continued flow of business from admitted markets, according to Risk Placement Services (RPS) executive vice president Russ Stein.
The E&S market presents an opportunity for participants to “be a solution provider for all the challenges that we have in the world today”, Markel’s chief wholesale officer Wendy Houser has said.
