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Aon said it was “optimistic” that the market is now on a more stable footing following a turbulent 1.1.
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Reinsurers achieved an average ROE for 2022 of 5.2% – far below the cost of capital – in what Aon described as a “poor year for reinsurance sector earnings”.
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The broker’s international chairman said that without an influx of new capacity, the market will remain disciplined.
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S&P plans to publish a capital model prototype with its revised proposals for ratings methodologies, in its latest move to seek market feedback.
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Sources pointed to increased pressure to lift minimum rates on line above 2.5% on upper layers of wind programmes.
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S&P published its first consultation on proposed changes to its risk-based capital adequacy methodology in December 2021.
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Large visiting contingents from Florida to the Bermuda Risk Summit highlighted ongoing concerns around cat capacity availability.
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The MGA’s international platform hopes to bring in MGA underwriters looking for US expansion.
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The executive didn’t provide a target for the number of investments it expects to keep, but said SiriusPoint will not be an active acquirer in the near term.
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Global P&C insurers must reassert their relevance by reducing cat-related protection gaps rather than retreat from nat cat risk, McKinsey said.
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The carrier has exceeded its H1 natural hazard allowance of A$580mn.
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Slowing primary pricing, the looming threat of inflation and increased cat retentions were key themes from this reporting round.