Casualty Reinsurance

Swiss Re’s Mueller: Latin America providing “good business” despite some challenges

Latin America remains a good source of business for reinsurers, driven by the property market, but growth in the region’s underlying insurance market is expected to slow, according to Kaspar Mueller, president of reinsurance in Latin America at Swiss Re.

Swiss Re expects normalised returns in 2025 following $2.4bn liability strengthening

Swiss Re will "remain cautious" on writing new business in its US casualty book after its decision last week to strengthen US liability reserves by $2.4bn in the third quarter, according to CEO Andreas Berger.

Ageas Re launches Deister-led Zurich hub

Ageas Re, the reinsurance arm of Belgian insurance group Ageas, has announced that launch of a new branch office in Zurich led by Anne Deister as branch manager.

RenRe CEO: Casualty rates “need to accelerate” for business to remain attractive

RenaissanceRe president and CEO Kevin O’Donnell has said that increases in underlying casualty need to accelerate for the business to remain attractive over the next 10 years.

Signs of further reinsurer retrenchment in US casualty as loss trend concerns mount

Some Bermudian and other reinsurers that have grown in US casualty in recent years to take up the slack left by the pullback of continental reinsurers appear to be signalling reduced appetite for the business ahead of 1.1.

Litigation financing could leave a number of casualty risks uninsurable: Hannover Re’s Henchoz

Hannover Re CEO Jean-Jacques Henchoz has warned the industry that a number of casualty risks could become uninsurable in the future if nothing is done to rein in the litigation finance industry.

US casualty still in focus as reinsurers question price and reserve adequacy

Continued concerns over the health of the underlying business in casualty will put the topic at the top of the agenda again this conference season, with reinsurer sources suggesting they will take a cedant-by-cedant and program-by-program approach to upcoming renewals.

Social inflation impact to outweigh industry benefit from higher interest rates within two years: Swiss Re

Social inflation has increased US liability claims by 57 percent in the last decade, with its impact on casualty claims growth set to outweigh the industry earnings benefit from higher interest rates in one to two years, according to Swiss Re.

Ageas Re continues casualty build-out with Ammann hire

Ageas Re, the third-party reinsurance arm of Belgian insurance group Ageas, has continued the build-out of its growing casualty team with the hire of Noël Ammann as senior underwriter.

SRCC (re)insurance market may be one cat away from complete dislocation: Howden

The global strikes, riots, and civil commotions (re)insurance market may be only one catastrophic event away from complete dislocation if current treaty reinsurance contract limits persist, according to Howden Re.

Hamilton’s Albo sees “increased” casualty re “opportunity”, as investors respond favourably to Q2

Hamilton Insurance Group sees a continued “favourable market environment” with attractive pricing and terms for property reinsurance and “increased opportunity” in casualty reinsurance, as well as strong E&S flow, CEO Pina Albo has commented.

Greenlight Re sees “attractive opportunities” in property and specialty while casualty “more complicated”

Greenlight Re’s CEO has stated he is positive about his company’s portfolio and market conditions following a renewal season that was in line with expectations, although the Cayman Islands-based reinsurer is more “cautious in casualty”.

Munich Re cuts casualty/cyber business at 1.7 in favour of property cat

Munich Re reduced its proportional casualty business at the 1.7 renewals on the back of a falling rate adequacy and a changing risk appetite in D&O, general liability and cyber, CEO Joachim Wenning has said, with the reduction partly offset by growth in proportional property and natural catastrophe lines.

GC’s US property cat ROL index near flat despite shifting risk appetites at mid-year renewal

Despite some challenges on property cat renewals supported by ILS in recent weeks, the mid-year renewal saw a “transitioning” reinsurance market respond to increased demand from cedants, with Guy Carpenter’s preliminary US property cat rate on line (ROL) index near flat year-on-year, said the firm.

IAG strikes five-year cat ri deal with Berkshire and A$650mn Enstar ADC

IAG has purchased long-term natural perils volatility protection from Berkshire Hathaway and Canada Life Reinsurance providing up to A$680mn of limit annually for future events and a A$650mn adverse development cover from Enstar to protect its A$2.5bn long-tail reserves for prior years.

Everest Reinsurance elevates Doshi to head of North America treaty casualty

Everest Reinsurance, the reinsurance division of Everest Group, has named Mayur Doshi as head of North America treaty casualty.

Axa XL Re expands Sawyer’s role to head of London casualty

Axa XL Reinsurance has appointed Ian Sawyer as head of London casualty.

Hamilton to lean into casualty re following upgrade and strong Q1 performance

Hamilton Insurance Group’s reinsurance unit will see the most significant impact from the carrier’s recent upgrade to A by AM Best, as it looks to target new classes of business and clients as well as scale up its line size, including in casualty treaty, according to CEO Pina Albo.

MS Re’s Wiest cautions on “opaque” US casualty conditions

MS Reinsurance’s Robert Wiest has become the latest industry executive to urge the reinsurance sector to address the “difficult animal” of US casualty, although the CEO pointed to the US regional market as a key area of growth in the short to medium term.

Aspen launches casualty-focused Bermudian vehicle Pando Re with Pimco

Aspen Insurance Holdings has partnered with Pacific Investment Management Company (Pimco) to launch Pando Re Ltd, a Bermuda-domiciled collateralised (re)insurer focused on casualty business.

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