Commercial property

Climate mitigation in focus for European corporates as property rates plateau

Property insurance rates in Europe are stabilising, but climate risks still pose challenges for corporates and insurers, according to discussions at the Ferma Forum 2024.

RPS adds Markel Group's Oh as national property president

Arthur J Gallagher’s wholesale unit Risk Placement Services (RPS) has appointed Markel’s Kevin Oh as its national property president, taking over a role that had been held by Wes Robinson.

Hamilton Americas enters US property with hire of CNA’s Van Leunen

Hamilton Global Specialty, an underwriting platform of Bermudian (re)insurer Hamilton Insurance Group, has entered US property insurance at Hamilton Americas with the appointment of Lissie Van Leunen as head of US property.

Competition but no recklessness in London property: Lancashire’s Maloney

The London property insurance market remains disciplined with no sign of underwriting recklessness in the run up to renewal despite surging competition and continued confidence in trading conditions, according to Lancashire’s Alex Maloney.

Beat launches Dupre-led Fallow Grove for US E&S market

Ambac Financial-owned Beat Capital Partners has launched US-based managing general agent Fallow Grove Insurance Services with Brett Dupre as president and CEO.

Moody’s RMS pre-landfall Milton stochastic events output points to $25.3bn mean wind loss

Moody’s RMS on Wednesday sent to clients a pre-landfall stochastic events STEP tool output for Hurricane Milton that includes a $25.3bn mean loss from wind-only damage, The Insurer understands.

Helene now “extremely dangerous” Cat 4 hurricane amid inland impact uncertainty

Hurricane Helene has strengthened to Cat 4 ahead of a Big Bend, Florida landfall bringing devastating winds and deadly storm surge of up to 20 feet as well as uncertainty over likely insured losses because of its potential to cause significant damage far inland through Georgia and neighbouring states.

Inflation drives underinsurance for 46% of UK commercial properties: Gallagher

The UK’s lengthy high-inflation environment has driven 46 percent of commercial properties to be underinsured, according to Gallagher Specialty.

AmRisc panel: Only a return to “fear in the room” would tighten softening property market

The major shift towards softening property market conditions will only be reversed by the return of “fear in the room” from an event which has a major financial impact or changes the perception of risk, although a series of smaller events could slow the pace, according to a panel of brokers and insurers.

Aon: Shared and layered leads softening as US property rates fall by 0.94% in Q2

US property insurance rate change entered negative territory for the first time in 27 quarters in Q2 2024 while policyholders going forward can expect reductions of up to 10 percent for desirable accounts and occupancies including on some natural catastrophe-exposed programs, according to Aon.

AIG NA retail distribution head Ellis leaves to rejoin Marsh within real estate/hospitality

AIG’s North America retail distribution head and its former head of North America retail property Duncan Ellis is leaving his role with the carrier and is expected to reunite with his colleagues at Marsh to work within its real estate and hospitality vertical, The Insurer can reveal.

WTW names Hamilton international property director

WTW has appointed Gavin Hamilton as a director within its international property team.

Redline gets Lloyd’s capacity for LatAm and Caribbean property fac offering

Redline Underwriting has secured capacity from a panel of Lloyd’s syndicates to write a book of property facultative reinsurance business in Latin America and the Caribbean.

Beazley “genuinely excited” by property opportunity in US E&S market: Cox

London-listed insurer Beazley is on track to transfer around one-third of its property business written on Lloyd’s paper over to its new onshore E&S platform by the end of the year, with CEO Adrian Cox hailing the class as an “excellent investment”.

Curotech Specialty to launch E&S commercial property program with Emerald Bay capacity

Recently launched carrier Emerald Bay Risk Solutions has partnered with MGA Curotech Specialty to launch an E&S commercial property program supported by a panel of “market-leading” reinsurers.

K2 recruits builders risk team from Intact’s Striior for launch of new program within Vikco

K2 Insurance Services has recruited a trio of builders risk underwriters from Intact Specialty Solutions led by former Highland executive Kaileigh Bowe with an aim to launch a new builders risk program in the coming months, Program Manager can reveal.

RPS’s Cavaness: E&S property rate increases now bigger for SMEs than larger accounts

Risk Placement Services chairman Joel Cavaness has highlighted a trend of SME accounts now seeing larger property renewal premium increases than large risk accounts.

Gallagher: Property premium increases “moderating” as (re)insurers believe price adequacy is near

Arthur J Gallagher’s management has reiterated strong 2024 organic growth guidance with market conditions characterised by “broad-based renewal premium increases” despite moderation in property.

Aon lands Barber from Marsh as global head of property

Aon has hired Ryan Barber as global head of property for its Commercial Risk business in a move it says will further advance its Risk Capital strategy, The Insurer can reveal.

Jupiter launches shared and layered large property program on Amherst paper

Risk Theory’s property-focused MGA Jupiter Risk Services has launched a shared and layered program on the AM Best A- rated paper of its recently established E&S carrier affiliate Amherst Specialty Insurance Company, Program Manager can reveal.

Region

Topics

Events & Conferences

Content Types