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Axis Capital gets the go-ahead to merge Lloyd’s managing agencies

News

M&A

Axis Capital gets the go-ahead to merge Lloyd’s managing agencies

Axis Capital has received approval to create a single managing agent structure for its operations at Lloyd’s following the acquisition of Novae last year.

Tue 9 Jan 2018

AM Best model change to spur reinsurance demand

News

Property catastrophe

AM Best model change to spur reinsurance demand

Reinsurers are set to benefit from an uptick in demand for coverage from primary carriers following a change to AM Best’s rating methodology, Aon Benfield has said.

Tue 9 Jan 2018

California wildfires push The Hartford to $180M Q4 cat loss

News

Losses

California wildfires push The Hartford to $180M Q4 cat loss

The Hartford is set to take a $180mn catastrophe hit from the fourth quarter largely due to losses stemming from wildfires which swept California last year.

Mon 8 Jan 2018

1.1 rates hike trend will be short lived: Aon Benfield

News

Losses

1.1 rates hike trend will be short lived: Aon Benfield

The 1 January renewals saw reinsurance pricing move up for lines and territories worst hit by last year’s catastrophes but those rate hikes are likely to be short lived, Aon Benfield has predicted today (8 January).

Mon 8 Jan 2018

MS Amlin launches $60mn sidecar for Lloyd’s syndicate

News

Property catastrophe

MS Amlin launches $60mn sidecar for Lloyd’s syndicate

MS Amlin has launched a $60mn Bermuda-based sidecar that will write a quota share of its Lloyd’s Syndicate 2001.

Mon 8 Jan 2018

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Mon 8 Jan 2018

News

eReinsure to Offer Blockchain Placement Service

Online broker eReinsure.com is gearing up to launch a new blockchain service to its reinsurance platform in the coming months on the back of growing client demand, the company announced today (8th January).

Mon 8 Jan 2018

R&Q's CEO-elect departs in major restructure

News

Legacy

R&Q's CEO-elect departs in major restructure

Tom Booth, the CEO-elect of the London-listed insurance group R&Q, has resigned as a director with immediate effect and will be leaving the organisation to “pursue alternative opportunities”, the firm announced this morning (8 January).

Mon 8 Jan 2018

Comment

Results

Brokers split on rate hikes at 1.1

Divides have begun to emerge on rate movements across the market as brokers took it in turns last week to publish their take on 1 January renewals.

Mon 8 Jan 2018

Will the reinsurance tail still wag the insurance dog?

Comment

Results

Will the reinsurance tail still wag the insurance dog?

After months of bluster about the potential for double-digit rate hikes, reinsurers conceded ground at the eleventh hour to walk away from the 1 January renewals disappointed. At least, this was the sub-theme from some of the international brokers last week but does this tell the whole story?

Mon 8 Jan 2018

Fema boosts NFIP reinsurance spend by more than 50%

News

Property catastrophe

Fema boosts NFIP reinsurance spend by more than 50%

US government-run flood cover scheme, the National Flood Insurance Program (NFIP), has upped its spending on private market reinsurance by more than half as the agency bolstered its coverage in the wake of last year’s devastating storms.

Mon 8 Jan 2018

Reinsurance stocks rally after initial 1.1 falls

Analysis

Results

Reinsurance stocks rally after initial 1.1 falls

Reinsurance stocks have begun to rally in recent days after declining in late December and at the beginning of January amidst reports of reinsurers conceding to lower rate improvements at 1.1.

Fri 5 Jan 2018

News

Results

AM Best ups outlook for US commercial lines segment

AM Best has improved its outlook for the US commercial lines sector as it predicted that the segment would post a net profit for 2017 despite the string of catastrophes.

Thu 4 Jan 2018

News

Marine

Kea Trader loss to cost marine (re)insurers at least $170mn

Mariners have been notified that losses from the Kea Trader are expected to cost the industry upwards of $170mn which means at least $70mn falling into the first layer of the giant International Group XoL reinsurance programme, Reinsurance can reveal.

Thu 4 Jan 2018

News

Beale to replace Philipps as MS Amlin CEO

Simon Beale, MS Amlin’s Chief Underwriting Officer, will succeed Charles Philipps as CEO at the (re)insurer following his retirement in April.

Thu 4 Jan 2018

Reinsurers concede ground to deliver muted rate hikes: JLT Re

News

Rates

Reinsurers concede ground to deliver muted rate hikes: JLT Re

Despite an early push from reinsurers to achieve more substantial rate hikes at 1 January, many conceded ground as the key renewal date approached, according to JLT Re’s North America CEO Ed Hochberg.

Wed 3 Jan 2018