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Loss deterioration, interest rates and capacity reduction lend weight to reinsurers’ case for rate rises.
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Mia Finsness will assume new global responsibilities for the insurer’s casualty portfolio.
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CFO John Dacey says the new alternative capital partners unit will enhance its flexibility.
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Gregory Schilz, Grant Nichols and Brian Lu join the broker from Marsh JLT.
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Broker makes several key hires after Canadian pension fund and private equity deal.
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The executive focused on casualty classes, including motor, liability and professional indemnity.
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Any carrier troubled in recent months by large losses, be they property or casualty, will have noted Zurich CEO Mario Greco’s claim last week that his company has neutralised the threat.
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The carrier’s withdrawal comes amid general concerns over pricing and reserving.
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The move follows an exodus of casualty underwriters from Swiss Re’s primary business over 2019.
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Aon and Willis Re will place the global XoL, with Guy Carp placing international.
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The "Hundreds" product will have a $100mn limit excess of $100mn, and cover 100 named perils.
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Executives who have been upfront about the need to batten down the hatches ahead of the impending casualty storm must be feeling a little put upon.