Nationwide E&S hires QBE’s DiBattista in casualty leadership roleNationwide has hired Jude DiBattista to lead its E&S brokerage wholesale primary and excess casualty unit.
AFG already enjoying “great returns” in excess liability and looking to growAmerican Financial Group (AFG) is already making “great returns” from its excess liability book, with the company set to grow in the sector as it looks to take advantage of the improvements underway within the segment, according to co-CEO Carl Lindner.
AIG sues McKesson over opioid lawsuit claimsAIG has sued McKesson, seeking a declaration that it has no duty to defend or indemnify the pharmaceutical distributor in any of the opioids lawsuits that have led to hundreds of millions of dollars of settlements as well as a potential multi-billion dollar global payment.
Chubb adds Forman as casualty manager for UK & IrelandChubb has appointed Swiss Re Corporate Solutions’ Alex Forman as casualty manager for the United Kingdom and Ireland (UK&I).
Hard casualty market to continue for at least another 18 months: AmWINSData from wholesale giant AmWINS shows US casualty renewals priced up by an average of 10.67 percent in the third quarter – matching the pace of increase seen in Q3 2019 – with the current challenging conditions for buyers set to last for the next 18 months or more.
Livingston linked to Rosh Capital’s Bermuda reinsurance start-upFormer Arch Re US CUO Joel Livingston has been linked with the management team for Rosh Re, the proposed Bermuda-based start-up reinsurer from Rosh Capital Management that has secured a $600mn lead investment from the family office of industrial investor Ajay Kumar.
Axis Re bolsters NA casualty team with Safety National and TransRe hiresBermuda-headquartered Axis Re has added Lydia LaSalata and Matthew Trinkle to its North American casualty team.
Axa XL shutters Dublin excess casualty unit and restructures in the USAxa XL has closed its Dublin, Ireland based excess casualty underwriting centre and also realigned the management of its E&S primary and excess casualty units to report into overall product line heads, The Insurer can reveal.
Castel’s MCI completes management buyoutCastel Underwriting Agencies’ casualty underwriting cell, Medical & Commercial International (MCI), has completed a management buyout from Arch Capital-owned Castel’s MGA formation platform.
Swiss Re most exposed as US social inflation threatens reservesThere were more federal securities class actions filed in the first six months of the year than were seen annually prior to 2015, indicating that 2020 may be another tough year for casualty insurers.
Axis looks to Gen Star and Hallmark to bolster US excess casualty teamBermudian-headquartered Axis has hired Jonathan Martin and Jennifer Fisher as vice president and assistant vice president respectively within its US excess casualty underwriting team.
Unknown territoryThe ReInsurer talks to Phil Sandercox, managing director at Cincinnati Re, about Covid-19 and the insurability of pandemics, and casualty market dynamics…
Unprecedented demand for ADCs and LPTs: MarcellThere is an “unprecedented” level of demand for adverse development covers (ADCs), loss portfolio transfers (LPTs) and other solutions aimed at addressing prior-year reserve risk, according to Aon’s Reinsurance Solutions CEO Andy Marcell.
Ascot US launches E&S casualty division with Roy hireAscot has continued the buildout of its US insurance platform by launching an E&S casualty division with the hiring of Matthew Roy from Axa XL as senior vice president.
Habitational claims frequency in $1mn-$5mn range rising significantlyThe US habitational market has been experiencing a significant rise in claims activity in the $1mn-$5mn range, while a retrenchment of the admitted market has opened the door to more E&S business, according to Risk Placement Services (RPS).
Only a handful of casualty carriers now willing to quote lead excess layers: RPSThe board firming in the US casualty insurance market across the umbrella/excess liability line is expected to continue during the remainder of this year and into 2021, according to a new report from Risk Placement Services (RPS).
Hannover Re’s Henchoz: European market stabilising by rate hardeningCovid-19 is set to fuel pricing momentum in Europe at the upcoming 1.1 renewal despite the region being spared from large natural catastrophe events, but there are some lines that need more firming, Jean-Jacques Henchoz told The Insurer.
QBE Re targets casualty growth with combined unit under BarberQBE Re has combined its US and international casualty treaty reinsurance teams into one business unit under the leadership of Tim Barber, who has been appointed to the newly created role of head of casualty treaty.
LSM unveils London casualty hires from Aspen and MS AmlinLiberty Specialty Markets (LSM) has expanded its casualty team with new hires to underwrite the UK and US books of business.
Casualty carriers suggest sharing risk in towers with clients to align interestsPaul Horgan of Zurich North America has suggested carriers should utilise quota share structures in casualty towers with participation from insureds to better align interests while AIG’s Lex Baugh said the current conditions increase the incentive for the market to “crack the alternative capital puzzle”.