Property reinsurance

Atrium loses property reinsurance underwriter Ungless

Lloyd’s (re)insurer Atrium has parted ways with its property reinsurance underwriter Robin Ungless, re-insurance.com can reveal.

RSG looks to create $200mn+ reinsurance vehicle

Pat Ryan’s managing general underwriting platform is looking to raise more than $200mn to launch a rated reinsurance vehicle that will enable the group to participate on some of the risks it writes.

Assurant inks $1.3bn property cat reinsurance programme

US gadget and lender-placed homeowners carrier Assurant has secured a $1.3bn of property catastrophe cover for 2018, the insurer has announced.

Merck’s $915mn NotPetya hit may infect beyond its $275mn cyber tower

One year on from what is already the largest loss in cyber liability history, insurers on US pharmaceutical firm Merck’s vast $1.75bn property tower are still waiting on a formal loss notification.

Commercial P&C premiums to jump nearly a quarter by 2021: Aon

The amount of commercial property and casualty business written globally is expected to reach $900bn by 2021, according an estimate by broker Aon.

Florida’s HCI cuts reinsurance limit at 1.6

Floridian homeowners specialist HCI, which was hit by around $267mn of gross losses from Hurricane Irma last year, has cut limits on its reinsurance programme for the next 12 months.

Floridian Universal ups reinsurance coverage by $350mn

Floridian homeowners’ coverage specialist Universal, the Sunshine State’s largest insurer after government-backed Citizens, has added an extra $350mn in capacity to its reinsurance programme for this year.

Munich Re still largest reinsurer as Berkshire leapfrogs into third place

Munich Re remains the industry’s largest reinsurer after writing $35.67bn of reinsurance premiums in 2017 with Swiss Re in second place and a $29.95bn book.

Odyssey Re’s Bizet heads to JLT Re Miami

Alain Bizet has been named senior vice president of the JLT Re property team in Miami.

Munich Re posts EUR827mn Q1 profit as P&C surges

Munich Re has posted a 48.4 percent year-on-year increase in first quarter profits, which climbed to EUR827mn as the German firm’s P&C unit improved substantially on the back of a stronger underwriting performance.

Hannover Re beats as premiums climb

Hannover Re has beaten analyst forecasts for its first quarter profits and seen its gross written premiums climb strongly in the first three months of the year.

Swiss Re P&C income grows as underwriting improves in Q1

Swiss Re’s P&C unit reported a 7.5 percent year-on-year bump in net income for the first quarter to $345mn as underwriting returns improved helped by low catastrophe losses.

Florida insurer HCI adds to the downbeat 1.6 renewals tune

Floridian insurer HCI Group, which buys over $1bn of cat cover from the private reinsurance market and the Florida cat fund, has weighed in to add its voice to the chorus predicting subdued US cat rate rises at the mid-year renewals.

ILS to put reinsurance cycle ‘on life support or worse’: Willis

The continued development of the ILS market has the potential to seriously disrupt the traditional reinsurance cycle, Willis Towers Watson has said.

Another ‘disappointing’ renewal for reinsurers at 1.4: Willis Re

The flat reinsurance rates witnessed at 1 January have lingered to plague reinsurers at the 1.4 renewals, Willis Re has said.

Your Guide to Lloyd’s Syndicate Results 2017

Another year and another set of Lloyd’s syndicate results come into the world but after one of the worst years in the market’s 330-year history, four fifths of syndicates posted a loss with 17 of those reporting a combined ratio in excess of 150 percent.

Lloyd’s acts to assuage rating agency concerns over peak exposures

On the eve of Lloyd’s publishing its worst results since 2001, representatives from the Corporation’s Performance directorate met with senior executives from a number of Lloyd’s insurers to score-card how they are managing their aggregate cat exposures.

Lloyd’s market swings to heavy £2bn loss for 2017

The Lloyd’s market has posted a £2bn ($2.8bn) pre-tax loss for 2017, a severe deterioration from the £2.1bn profit it reported this time last year as the venerable institution’s combined ratio swelled to a hefty 114 percent.

US P&C industry posts $23.5bn loss in 2017: AM Best

Property and casualty (P&C) carriers in the US have reported a net underwriting loss of $23.5bn in 2017, according to AM Best data.

IGI posts small profit despite 2017 cats

Dubai-headquartered International General Insurance Holdings (IGI) stayed in the black for 2017 despite the roll-call of cat events in the second half of the year.

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