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Aon’s reinsurance solutions CEO, Andy Marcell, said the loss ratios of treaties managed by the brokerage firm performed “pretty well” in the past 10 years.
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Insurance Insider explores the themes around growth in London and a contraction of cat limits on the horizon, in the months before an intensive 1.1 period.
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The ratings agency warns latent exposure to property risk could cause capital deterioration.
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Underwriters in both London and Singapore are in discussions with the company.
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Insured nat cat losses amounted to $35bn globally in H1, while manmade events triggered an additional $3bn, according to Swiss Re Insititute.
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The McKinney and Oak fires are 0% and 67% contained, respectively.
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Initial loss estimates from convective storms and flash flooding place the economic impact in the hundreds of millions, although Aon warned losses may rise further.
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The carrier’s management emphasised further underwriting actions.
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Joe Petrelli said Demotech would continue to follow its independent methodology, despite outside pressure.
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A further 3,271 structures, including both homes and businesses, are under threat from the wildfire.
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The first six months of the year also saw more billion-dollar loss events than average.
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Market orthodoxy suggests cross-class reinsurers secure more leverage – but are there too many implicit offsets in this game?