Reinsurers to push for Japan cat agg rate spikeIn contrast to other peak zones, cat reinsurers are increasingly confident of significant rate increases for the larger Japanese cat treaties that renew at 1.4.
A messy quarter...Today is not just the start of the Baden-Baden Congress. It also marks the first full week of the third quarter reporting season.
Paying the price...As delegates arrive at Baden-Baden for the annual reinsurance congress it seems appropriate to begin with a German proverb: “Das Billige ist immer das Teuerste”.
Tokio Marine Kiln backs new AM Best rated US insurerFast-expanding Florida-based insurer United Insurance Holdings (UPC Insurance) has secured its first ever AM Best rating for a new carrier it is launching in partnership with Tokio Marine Kiln to write homeowners and commercial residential property business.
Activist investor CIAM pressures Scor to engage in M&A talksEuropean activist investor CIAM has taken a stake in French reinsurer Scor and is threatening to hold the firm “legally responsible” if it does not engage with potential acquirer Covea.
MMC (re)insurance business to be 40 percent bigger than rival AonMMC’s $5.6bn acquisition of Jardine Lloyd Thompson Group (JLT) will cement the group’s position as the industry’s largest global broker based on (re)insurance revenues and will also create a 40 percent top line differential based on 2017 results.
After the storms... (comes the M&A surge...)2017 will be remembered for the brutal roll-call of major cat events including Hurricanes Harvey, Irma and Marie as well as the wildfires in California.
$5bn-$6bn Typhoon Jebi to hit reinsurance treatiesTyphoon Jebi, which pounded Japan last week, is the largest cat loss of 2018 to date with early unofficial estimates of an insured loss of $5bn-$6bn.
Scor’s Kessler backs Lloyd’s CEO pick and dismisses M&A talkThe CEO of French reinsurance giant Denis Kessler has applauded Lloyd’s of London for its choice of John Neal as the next CEO as he fended of M&A speculation.
Ex-QBE boss John Neal to be named Lloyd’s CEOThe former head of Australian insurer QBE John Neal will be shortly named as Inga Beale’s replacement as CEO of Lloyd’s, re-Insurance.com understands.
Carnegie-Brown: Six requirements for next Lloyd’s CEOThose who care about Lloyd’s are assured about the way chairman Bruce Carnegie-Brown is leading the process to select the Corporation’s next CEO.
The Hartford’s talcum powder liabilities excluded from Nico $1.5bn ADCBerkshire Hathaway has excluded talcum powder-related exposures from the $1.5bn adverse development cover (ADC) it struck with The Hartford in late 2016.
2017 losses will no longer engage The Hartford cat agg programThe Hartford will no longer benefit from recoveries under its 2017 catastrophe aggregate treaty as its gross loss estimates have declined throughout the year.
The Hartford shares fall as it confirms M&A appetiteDespite posting consensus-beating Q2 results last week, The Hartford’s share price closed down 2.3 percent on Friday (27 July) after it confirmed a strategic focus on M&A rather than share buybacks.
Sciemus CEO steps down as rebrands to OccamSciemus, the satellites-to-cyber risk modelling and MGA firm, has taken its inspiration from the fourteenth century English philosopher William of Occam as it rebrands to Occam Underwriting.
Casualty is WRB “sweetspot” as eyes on London “discipline”WR Berkley CEO Rob Berkley has described casualty as the group’s “sweetspot” while taking shot at the industry’s habit of misrepresenting short-tail results, on his company’s call with investors yesterday.
(Re)insurers will be 'pulled in' to opioid crisis(Re)insurers will inevitably be drawn in to impending litigation from the ongoing opioid epidemic in the US, according to the CEO of the blue-chip specialty insurance group, WR Berkley.
RenRe shares edge up after 2017 cat reserve releaseInvestors welcomed news that RenaissanceRe had delivered a strong second quarter earnings beat, which included a $92mn net contribution from releases against last year’s natural catastrophe reserves.
Apollo closes in on Aspen with final bid expected next monthApollo Global is in advanced talks with up-for-sale Bermudian (re)insurer Aspen with the firms earmarking agreed deal terms before the Monte Carlo Rendez-Vous, re-Insurance.com understands.