European P&C insurers face deteriorating CR in 2019European Property & Casualty insurers will likely experience a modest deterioration in combined ratios and investment returns in 2019.
Wave of senior departures at AmTrust as go-private deal completesThere has been a trio of high-profile exits at AmTrust in the wake of the completion of its $2.95bn take-private deal with Stone Point Capital last week.
Beasley takes reins as Trisura Specialty heads to $100mn GWPUS hybrid fronting carrier Trisura Specialty has named seasoned insurance executive Michael Beasley as its president and CEO as part of a management reshuffle, The Insurer can reveal.
AIR pegs Woolsey Wildfire insured losses at $2.5bnCatastrophe risk modelling firm AIR Worldwide has estimated insured losses from the Woolsey Fire in Southern California will be at least $2.5bn.
Culture shift driving a world of ‘fewer, lighter and leaner’ carriersThe number of carriers in the (re)insurance market will shrink as (re)insurers adapt to evolving market conditions, Michael Millette, managing partner of Hudson Structured Capital Management has said.
Blockchain needs to be adopted by all to be of useSenior executives from the Bermuda market have debated the benefits blockchain technology can bring to the (re)insurance market.
R&Q inks self-insured legacy and workers comp dealLondon-listed R&Q is to provide full finality to an unnamed California-based self-insurer though its newly rebranded program underwriting division Accredited.
AIG’s 25% giant casualty cede could be a watershed moment...The firm order terms (FOTs) on AIG’s huge core US casualty quota share may be seen as a watershed moment for reinsurers and their prospects of improving economics at the upcoming 1.1 renewal.
AIG sets 25% cede on giant casualty QSAIG and its broker Aon have put out firm order terms (FOTs) on the insurer’s new core US casualty quota share that include a 25 percent ceding commission and 1 percent brokerage, Re-Insurance can reveal
Cali wildfire property losses estimated at $15bn to $19bnThe Camp and Woolsey wildfires which devastated California over the past two and a half weeks could cause $15bn to $19bn in residential and commercial losses, according to the property mapping firm CoreLogic.
Munich Re incurs major Ituango dam lossMunich Re has incurred a substantial Ituango dam loss despite not being on original placement and was the principal reason for missing a Q2 P&C consensus earnings target by almost Eur300mn, Re-Insurance can reveal.
TigerRisk Capital Markets hires Stephen FrommTigerRisk Partners has named Stephen Fromm as Vice Chairman of TigerRisk Capital Markets & Advisory - its risk, capital and strategic advisory arm.
Arch names Sturgess international insurance CEOArch has named Hugh Sturgess as CEO of Arch Insurance International, effective 1 January 2019, succeeding Matt Shulman, who was recently named CEO of Arch Insurance North America.
RMS pegs Cali wildfire insured losses up to $13bnRMS estimates the total insured losses from the Camp and Woolsey wildfires which devastated parts of California last week will be between $9bn and $13bn.
Cal Phoenix Re cat bond priced as total lossThe $200mn Cal Phoenix Re Ltd ILS is being priced as an effective total loss in the secondary cat bond market which also suggests investors believe PG&E’s $1.4bn insurance program will be totalled by the ferocious Californian Camp fire.
Californian regulator eases PG&E bankruptcy fearsShares of Californian utility firm PG&E spiked 40 percent in early trading today after a state regulator eased concerns worries about the firm going bankrupt from liabilities attached to the Camp wildfire.
Wildfires will add to 1.1 resolveAnother devastating wildfire season in California has prompted debate over what is behind a rise in frequency and severity in the Golden State in the last few years.
Insurers and ILS investors exposed to $1.4bn PG&E Cali wildfire coverAs wildfires continue to ravage large swathes of California, insurers face potential exposure through the upsized $1.4bn insurance cover bought by Pacific Gas and Electric Company (PG&E) on 1 August 2018 after the utility firm admitted it could be on the hook for billions of dollars in liability.
AIG closes Fortitude Re stake sale to The Carlyle GroupAmerican International Group has closed the sale of its 19.9 percent stake in Fortitude Re to private equity house The Carlyle Group.
TransRe invests in New ParadigmUS cat MGU New Paradigm Group LLC has received an undisclosed capital injection from TransRe, the New York headquartered reinsurance group.