Reinsurance M&A could benefit insurance-linked securities (ILS) funds as larger carriers will be keen to reduce counterparty credit risk, two fund managers have told sister title Trading Risk.
PartnerRe president Emmanuel Clarke is set to become CEO of the Bermudian reinsurer following the close of its impending $6.9bn sale to Exor, The Insurance Insider can reveal.
Xchanging has enhanced its reinsurance placement platform, newly branded as X-gRm, to offer a live marketplace for indexed products including industry loss warranties
QBE's expanded aggregate cover shouldered $213mn of losses in the first half of 2015, including $106mn of catastrophe claims, to help the carrier soften the blow from multiple adverse weather events in Australia
Insured losses from natural disasters reached $15bn in the first half of 2015, about a third lower than the 15-year average, according to Aon Benfield.
Scor's chief corporate strategy officer Brian Shea is set to become head of Europe at Willis Capital Markets & Advisory (WCMA), the firm announced today (15 July)
Bondholders are monitoring the Akibare II and Aozora transactions following predictions that Category 4 Typhoon Nangka could make landfall in southern Japan later this week, Trading Risk understands.
Lane Financial's insurance-linked securities (ILS) rate-on-line index has continued its upward trend in 2015, climbing 8.5 percent in the first half of the year.
African Risk Capacity (ARC), Africa's first parametric catastrophe insurance pool, is to grow to around $192mn, with over $70mn ceded to the reinsurance market through Willis Re
Reinsurers and reinsurance brokers will almost certainly lose out following the proposed acquisition of Chubb by Ace, as the combined entity's enlarged balance sheet, better diversification and increased buying power allow it to reduce its reinsurance spend.
Willis Capital Markets & Advisory (WCMA) executive Jarad Madea is set to join reinsurance broker TigerRisk, the intermediary announced yesterday (29 June).
RenaissanceRe's permanent sidecar DaVinci Re reported a 7 percent decrease in first quarter net income to $52mn, following a 22 percent reduction in net earned premium income to $61mn.
Military mutual insurer and insurance-linked securities (ILS) stalwart USAA has launched its 24th Residential Re catastrophe bond, which is targeting $150mn in annual aggregate cover, sister title Trading Risk has reported.
Aon Benfield's Dan Burrows and Amlin's Ben Savill are in line to become the respective London and Bermuda CEOs of Richard Brindle's start-up carrier Fidelis, The Insurance Insider can reveal.
The principal offshore energy wind renewal season has kicked off with expected rate reductions of up to 20 percent due to the perfect storm of a severely depressed oil price, shrinking demand and extreme overcapacity.
Tropical Cyclone Nathan is expected to strengthen to a severe Category 3 storm before making its third landfall in northern Australia early this week, according to the Australian Bureau of Meteorology.
The onshore energy market is awaiting loss estimates for the fire at Exxon Mobil's Torrance refinery in California, but underwriters said it was unlikely the loss would exceed the energy giant's $500mn retention
The major GE Electric property programme has suffered two UK factory fires in the past year, with the most recent insured loss estimated at $260mn, Inside FAC understands
Aon Benfield Fac has lost both its onshore and offshore energy leaders to rivals, while further GC Fac brokers have left to join Malcolm Payton at Capsicum Re, Inside FAC revealed
Former underwriters from defunct Swiss insurer Infrassure have spawned new energy capacity as they have begun to write fresh books of business elsewhere or have set up their own businesses.
Investment analysts have said that the agreement for Willis to take an 85 percent interest in independent London market broker Miller Insurance Services will be largely accretive to the big three broker's earnings.
Insurers in the $1bn+ Superstorm Sandy suit brought by Amtrak have filed motions opposing the US railroad operator's request for summary judgment on the definition of "flood" and Sandy's status as a single loss occurrence.
A $175mn settlement plan to compensate victims of the catastrophic Lac-Mégantic oil train derailment and fire in 2013 has been filed in a Quebec court.
Philippe Regazzoni, the CEO of Amlin's reinsurance subsidiary Amlin AG and an Amlin Management Committee member, has left the company with immediate effect, sister publication Inside FAC has revealed.
JLT has warned the upcoming energy insurance renewal season will be the most "brutally Darwinian" since 1999 as the depressed oil price causes a retraction in demand just as capacity reaches a new high.
US open market property bellwether Verizon renewed on 1 January with double-digit rate reductions despite its value growing by 6 percent, market sources told sister publication Inside FAC.
Willis Re believes that the surge in growth of collateralised reinsurance during 2014 is unlikely to be as pronounced in 2015, according to its 1st View January renewals report.
Non-traditional capacity is on track to reach Aon Benfield's prediction of $150bn by 2018, after it increased by almost 25 percent to $61.9bn by the end of the third quarter of 2014.
The loss estimate for the fire that razed the Campofrio meat-processing factory last month has increased by 30 percent to $400mn, sister title Inside FAC reported.
The US Senate's failure to re-authorise the Terrorism Risk Insurance Act (Tria) before its year-end 2014 expiry date is causing an uptick in submission flow for standalone terrorism cover.
A major fire that destroyed over two-thirds of an apartment block under construction in Los Angeles is likely to cost insurers in the range of $40mn-$60mn, sources told sister publication Inside FAC.
Aegis London's Syndicate 1225 has withdrawn from the aviation war market after rates failed to harden sufficiently despite the sector posting a loss ratio in excess of 1,000 percent in 2014.
A meat-processing facility belonging to Spanish food giant Campofrio Food Group was razed to the ground during a fire that is likely to cost insurers EUR250mn, sister title Inside FAC reported.
A group of insurers that have been sued for refusing to pay $1bn+ of Superstorm Sandy claims by US rail operator Amtrak have filed a partial motion to dismiss a bid for consequential damages.
AIG has brought its third Tradewynd Re cat bond to market and is seeking to raise $300mn of indemnity cover for multiple perils across the US, Canada, Mexico and parts of the Caribbean.