Hannover Re forecasts modest upswing for loss-affected German cat treatiesHannover Re expects positive premium development in its domestic German market for the upcoming round of treaty renewals at 1.1, albeit at a more muted pace than in the previous year.
Miller snaps up London (re)insurance broker Alston GaylerMiller has confirmed it has entered into a definitive agreement to acquire Dutch-owned London market wholesaler Alston Gayler, as previously predicted by Re-Insurance.
Hyperion X to launch as major new 1.1 tech, data initiativeLondon-headquartered intermediary Hyperion Insurance Group has unveiled a fourth new operating arm and parachuted in the senior management of its specialty broker RKH to lead the business as a mark of its commitment to drive much-needed industry “digital change”.
Lloyd's warns of 'crippling' $160bn insurance gapAn estimated $163bn of assets are underinsured in the world today, leaving an exposure gap that poses a “significant threat” to livelihoods and global prosperity, according to new research from Lloyd’s and the Centre for Economics and Business Research (CEBR).
Perils launches Australia wind forecasting platformZurich-based catastrophe modelling firm Perils has expanded its wind cat forecasting platform to include Australia.
Lloyd’s: hard Brexit no obstacle to paying claimsDespite the continuing stalemate between the European Union and the UK government, Lloyd’s chairman Bruce Carnegie-Brown has reassured Baden-Baden attendees that the 330 year old market will seamlessly process claims and commit capacity regardless of what “Brexit” looks like in 2019.
Gard swoops on another flagship London marine accountNorwegian carrier Gard has secured another landmark London marine hull account, taking over from Lloyd’s insurer QBE as the lead on the London placement of the Qatar LNG fleet program, Re-Insurance can reveal.
M&A carousel will continue but 'clients like choice'Despite the remarkable frenzy of M&A seen in 2018, speakers at the Guy Carpenter Baden-Baden symposium yesterday feel the market will still value the specialist carrier as long as it remains nimble and responsive to clients’ needs.
Nash: 'shadows' cast over industry ahead of 1.1 renewalsGuy Carpenter’s international CEO James Nash has praised reinsurers for its “rational response” to the estimated $140bn of insured cat losses last year but warned that new “shadows” are being cast over the industry ahead of the 1.1 renewals.
Contract continuity ‘no issue’ says EU Brexit chiefThe European Parliament’s Brexit chief has said there will be “no issue” of contract continuity for (re)insurance firms once the UK departs from the European Union in March next year, Re-Insurance can reveal.
RMS pegs Michael insured losses at upto $10bnGlobal risk modeling and analytics firm, RMS has estimated that the insured loss from Hurricane Michael will be between $6.8bn and $10bn
Blue Capital Re: correction on loss estimateThe NYSE-listed collateralised reinsurance fund Blue Capital Re said yesterday that its Q3 net Irma loss bill will increase by a further $6.1mn.
Marine insurers braced for another major shipyard lossUK insurer RSA and other marine underwriters are bracing themselves for a loss of up to $75mn after Hurricane Michael ripped through a shipyard in Panama City, Florida earlier this month, Re-Insurance can reveal.
AIG shares dip after heavy Q3 cat loss estimateAIG’s share price has fallen in early trading today but less than suggested from last night’s after market price following the publication of the company’s unexpectedly high Q3 loss bill.
AIG expects as much as $1.7bn in Q3 catastrophe lossesUS insurance behemoth American International Group said it expects to report third quarter pre-tax catastrophe losses of as much as $1.5bn to $1.7bn from natural disasters including Hurricane Florence and typhoons Jebi and Trami.
Rokstone hires Ryan exec Pilla for US pushRokstone Underwriting, the London-headquartered MGA that is backed by the D&F underwriting expert Les Rock, has hired Mike Pilla to head up its US operations, Rokstone Underwriting North America.
Standard Syndicate set to exit Lloyd’sCharles Taylor-managed Standard Syndicate 1884 has announced that it is withdrawing from underwriting at Lloyd’s from 2019.
Danish insurer Qudos ceases underwritingOnly hours after the Lloyd’s Syndicate 1884 announced it had ceased underwriting, the unrated Danish insurer Qudos Insurance confirmed that it has suspended underwriting with immediate effect.
Travelers profit more than doubles in Q3 as cat losses shrinkUS commercial and personal lines giant Travelers reported saw net income more than double in the third quarter as catastrophe losses fell from the prior year.
Markel CatCo warns of single-digit NAV hit from Michael and JebiRetro reinsurance investment specialist Markel CatCo said it expects its net asset value (NAV) to take a single digit hit as a result of cat losses from both Hurricane Michael and Typhoon Jebi.