Casualty Reinsurance

Reinsurers make case for measured push on casualty pricing and terms

Reinsurers are increasingly optimistic about their prospects of achieving improved economics on proportional and non-proportional casualty business at the upcoming renewals but will need to tread a fine line to avoid leaning too hard on under-pressure insurers.

Climate of fear could drive casualty hardening into 2021 and beyond

Beneath the overall upbeat mood at the CIAB’s Insurance Leadership Forum last week there was a genuine undercurrent of concern in the underwriting community about segments of the US casualty market where they are struggling to get to grips with accelerating loss cost trends.

Hamilton takes Third Point Re’s Wilson to lead US casualty & specialty reinsurance

Bermuda-headquartered Hamilton has appointed Steve Wilson senior vice president, head of casualty and specialty for its new US reinsurance platform.

Brit to grow US casualty XOL book after getting A rating for BDA platform

Brit has secured an A financial strength rating from AM Best for the Bermudian platform it will use to expand its reinsurance portfolio in 2020 with a focus on US casualty excess-of-loss (XOL) business.

Braithwaite leaves Willis Re for Lockton Global Re

Lockton Global Re is set to add to its growing US platform with the hiring of Willis Re executive vice president Mark Braithwaite, The Insurer can reveal.

Rockefeller University sues insurers over sexual abuse claims

Insurers including Travelers and Chubb have been sued by The Rockefeller University for refusing to provide cover for hundreds of claims of sexual abuse going back decades, in the latest suit related to the New York Child Victims Act (CVA).

FedNat confirms combined cat cover with Maison

FedNat placed $147mn of additional private market limit as it combined its pending Maison acquisition with its Monarch and core FedNet operation into a single reinsurance programme.

NA casualty chief Holtmeier to leave JLT Re

Gregg Holtmeier, who was North American casualty team leader at JLT Re, is set to leave the firm as its operations are integrated with Guy Carpenter, The Insurer can reveal.

AIG hires Chris Schaper to head new reinsurance platform

AIG has formed a new reinsurance platform that consolidates its assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty into one global business headed by former Montpelier and Victor executive Chris Schaper.

Sirius discloses stake in Greenlight Capital Re

Bermudian Sirius built a holding in ailing hedge fund reinsurer Greenlight Capital Re (GLRE) of as much as 5.7 percent in the last year, SEC filings have revealed.

AIG explores another multi-billion new reinsurance deal

Global insurer mulls another new liability reinsurance deal with broker RFP process set to get underway

Hudson joins reinsurance broker Atlantic Intermediaries

Former RFIB Americas executive Simon Hudson has reemerged at boutique reinsurance broker Atlantic Intermediaries, The Insurer can reveal.

Beach hires casualty and comp exec Fields

Reinsurance intermediary Beach & Associates has hired former JLT Re executive Scott Fields as senior vice president in its Burlington, North Carolina office, The Insurer can reveal.

TRIPRA uncertainty is creating additional reinsurance demand: Marsh

A new report from Marsh has outlined the impact allowing the US terrorism backstop to expire at the end of 2020 would have, and revealed that insurers are already seeking additional reinsurance limits and coverages.

Frase and McKeon leave Willis Re for TigerRisk

Lindsey Frase and Brian McKeon are leaving Willis Re for TigerRisk as the Rod Fox-headed broker continues to build out its West Coast platform, The Insurer can reveal.

Chandler leaves JLT Re for BMS

JLT Re North America deputy CEO Peter Chandler has left the firm to take the position of president at expansive broker BMS’s US reinsurance operations.

Convex Group launches with London and Bermuda regulatory approval

Stephen Catlin has formally unveiled his new international specialty (re)insurer with $1.8bn of initial committed capital, an AM Best A- (excellent) rating and regulated platforms in Bermuda and London approved to begin underwriting from 1 May.

$1.8bn Convex to launch with crucial A- AM Best rating

The underwriting subsidiaries of Stephen Catlin’s start-up (re)insurer Convex Group have been given A- financial strength and a- credit ratings by AM Best.

Scor top line grows 9% at 1.4 renewals; rates “responded rationally”

Scor Global P&C grew its gross written premiums at the 1.4 renewals by 9.6 percent at constant exchange rates to Eur548mn ($619mn), with rates up significantly in Japan and US market conditions improving.