Casualty

Liberty Mutual Re hands Steiner US specialty casualty treaty manager role

Liberty Mutual Reinsurance has promoted Sara Steiner to US specialty casualty treaty manager, an appointment that follows the former RenaissanceRe executive joining the company in 2020.

London market drafts new marine casualty claims guidelines

The joint marine claims committee (JMCC) between the International Underwriting Association and the Lloyd’s Market Association, in collaboration with the International Group of P&I Clubs, have agreed on new drafted guidelines for marine casualty claims.

Casualty leaders panel: A “more dislocated” market expected in 2023

The US casualty market will be more stable in 2023 compared to the dramatic changes in the past three years, according to leaders at the Zywave Casualty Insights Conference, with Nationwide’s Russ Johnston commenting that it will feel more dislocated and Munich Re’s Marcus Winter suggesting a correction is still needed.

Munich Re’s Haynes: Litigation funding “very worrying” for US casualty market

A big issue for the US casualty market to watch is the growth in litigation funding and the fact that only a small number of states have disclosure requirements related to it, Munich Re US casualty head Maura Haynes has warned, with the executive also citing inflation as a concern.

Ascot US restructures casualty business with Canfield to lead

Ascot US has unveiled a new structure for its casualty business under the strategic direction of new EVP and head of casualty, Jeff Canfield.

Conduit Re swoops for BMS Re’s Binetti as head of casualty

Conduit Re has restructured its casualty leadership team and hired Bermuda-based Mario Binetti from BMS Re as its new head of casualty, The Insurer can reveal.

RenRe’s O’Donnell: Early clear message at 1.1 helped preserve cedant relationships

In a challenging 1 January renewal for buyers, RenaissanceRe’s early and clear messaging as well as its position as a lead quoting market helped the firm maintain relationships with cedants and achieve its pricing objectives independently across property, casualty and specialty, according to president and CEO Kevin O’Donnell.

Catlin: I’ve never seen a market quite like this

Convex executive chairman Stephen Catlin has said the current P&C (re)insurance marketplace is unlike any he’s seen during a career spanning five decades, with conditions expected to be sustained until investors see returns that make them comfortable again with investing in balance sheet businesses.

Amwins: Market is a “roller coaster” with no property softening in sight

Some segments of the E&S sector are seeing softening while others such as property face “the hardest market conditions in decades”, according to wholesale broking giant Amwins.

Argenta’s Knight to launch casualty MGA Casper with Cinven and GIC backing

Argenta’s Bradley Knight is set to launch a casualty-focused MGA – Casper – with capacity provided by Hannover Re-owned Argenta and investment from Miller and its owners Cinven and GIC.

Swiss Re to split reinsurance business in operational restructure

Swiss Re is set to revamp its organisational structure through the split of its reinsurance business into separate P&C Re and L&H Re units.

Nexus appoints Darlea as AVP of product recall for US speciality casualty

Specialty MGA Nexus Underwriting has appointed Justin Darlea as assistant vice president of product recall in its US specialty casualty business.

Hub hires Aon’s Murphy to lead Midwest casualty

HUB International has brought in Aon’s Carol Murphy to lead its Midwest casualty practice.

Nationwide E&S confident of “substantial” profitable growth in brokerage casualty

Nationwide E&S senior executives have told E&S Insurer they are optimistic and opportunistic in their approach to the casualty and construction space and believe that the carrier’s brokerage and individual risk (IR) portfolio in those segments can be grown substantially and profitably over the next few years.

Alliant: Lead/excess casualty sector to follow the increases seen in property

Certain lines of insurance will likely follow in the pricing increases that have been seen in the property market, especially in lead and excess casualty programs, Alliant has commented in a new report.

B&W: E&S casualty capacity readily available but “story is different” for property

In a 2023 outlook, wholesaler Burns & Wilcox has identified shifting dynamics that include capacity being plentiful for casualty and professional lines, but constrained for property.

RLI casualty veteran Drees to retire with Hartje named successor

RLI’s long serving Dennis Drees will retire in February after almost 30 years at the company with Bob Hartje set to step up and succeed him as vice president of casualty brokerage.

USI expects more competitive casualty market in ‘23 after 10-15% rate increases in ‘22

Retail broking house USI expects competition in the casualty market to pick up, predicting in its latest market outlook report that rates will increase by 5 to 10 percent on average in 2023, with more clients set for flat renewals as the year progresses.

Swiss Re appoints Thomson to lead casualty treaty UW for Northwest Europe

Swiss Re has appointed Harry Thomson as its new head of casualty treaty underwriting for Northwest Europe.

Gallagher Re: Calmer casualty market but US PL QS cedes pressured down

The casualty treaty renewal at 1 January was a calmer affair than in property cat with “tough but fair” terms for buyers, but US professional lines quota share cede commissions were down 1 to 2.5 points, offsetting many of the increases cedants achieved over the last two years, according to Gallagher Re.

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