August 2016/5

Ajit Jain is set to drive growth at Gen Re as he looks to transform its underleveraged underwriting model and arrest a relative decline in market share against the European reinsurance giants

"No man is an island, entire of itself; every man is a piece of the continent, a part of the main."

Tokio Marine HCC (TMHCC) has hired a duo of surety underwriting executives from Chubb and added to its established presence in the space with the launch of a new Boston area office, The Insurance Insider can reveal

Sompo Canopius has become the latest Lloyd's carrier to sign up to write all of the pillars of multi-class facility Willis Global 360 (G360), The Insurance Insider can reveal

European reinsurers have lodged formal complaints with the Insurance Regulatory and Development Authority of India (Irdai) over new guidelines that they claim have hindered their ability to compete in the country

Lloyd's (re)insurer Ascot is heading for a $900mn+ deal with the Canada Pension Plan Investment Board (CPPIB) that will mark yet another point in the journey of long-term, lower-return money into the industry

A picture is beginning to form of how Gen Re will attempt to transform under Ajit Jain and Kara Raiguel's leadership to regain ground lost in a challenging reinsurance marketplace

While much of Ajit Jain's assessment of the change needed at Gen Re was focused on revamping underwriting approaches to target growth, he also addressed how a restructure could create a more entrepreneurial environment

Insured losses from the earthquake that struck central Italy last week (24 August) are expected to be limited, with low insurance penetration and government funding restricting (re)insurers' exposure

Louisiana homeowners' insurers are largely expected to escape a significant loss burden from the deluge that has flooded large areas of the state in recent weeks, according to underwriting sources

An analysis of financial returns from Prudential Regulation Authority-registered insurers has uncovered a significant amount of variation in UK carriers' performance over the past five years

Qatar Re CEO Gunther Saacke has indicated that his company is prepared to temper its growth plans while pricing pressures remain in global reinsurance markets

Integro LatAm deal; Hearn joins Brokerslink board; Skuld hires SVP; IGI profits rise 31%; Glaser calls for Nafta-like deal; Charles Taylor profits up 6%...

US carriers are averaging a 65.8 percent loss ratio on their direct standalone cyber business, according to a report published by Fitch Ratings last week (24 August)

Carriers targeting growth opportunities in mortgage reinsurance must devise strategies to effectively manage the risk if they are to avoid downwards ratings pressure, according to Standard & Poor's

Bermudian carriers continued to hand back capital to their shareholders in the second quarter, as challenging conditions provided few growth opportunities

Total return reinsurers reported poorer results in the second quarter year-on-year after none of the carriers found themselves able to deliver profits on both sides of the business

RT Specialty has jumped to the defence of one of its employees, who is being sued by his former employer USG Insurance Services after defecting to the rival wholesale broker to launch its Pittsburgh office

The specialty division of Tokio Marine HCC is suing one of its former senior vice presidents after he defected to launch a competing managing general agency

In our expanded coverage universe, last week's biggest share price falls were seen at London-listed insurers, with Admiral, Charles Taylor and Novae all suffering declines

Share price data on The Insurance Insider's universe of P&C (re)insurers