MMC to become largest reinsurance broker and London market powerhouse.
You have to go back 10 years to Greg Case’s decisive outmanoeuvring of MMC to buy Benfield to witness something as rapid.
Sources talking tentatively about a loss in the region of $5bn.
State Farm, Nationwide, USAA and Allstate lead market share for cat-exposed Carolinas.
European reinsurers may take hit on treaties
The binders market could have seen a greater loss if Florence had hit South Carolina directly.
A pro forma analysis shows the combination of Guy Carpenter and JLT Re creates a reinsurance broker with 2017 revenue of about $1.5bn.
Sources have speculated that the reinsurer’s book could come under attack at renewal.
Flooding, wind damage and business interruption losses are expected to rise as the region begins to recover.
Hiscox is likely to be the first of many syndicates to shrink their 2019 capacity.
The payback pricing model equity-funded reinsurers have relied on is dead. What comes next?
Reinsurers saw marginal improvements in rates at the mid-year renewals.