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The Californian carrier is to revise programme after handing $216mn wildfire loss to reinsurers.
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Executives are optimistic about the insurer’s ability to drive stronger returns given rate trends.
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The reduced appetite in standard lines have led to a market firming in E&S lines, the executive said.
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The broker’s Marketplace Realities report foresees property and marine rates rising as much as 15 percent, and energy lines jumping up to 20 percent.
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Speaking during a conference call, WR Berkley CEO Rob Berkley described pricing momentum that was “gradually building”.
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Both early reporting companies reported positive data points on rate and growth.
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Initial guidance on the latest Residential Re transaction points to a spread well above comparable deals.
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Commercial auto is still a market in turmoil, RLI president and COO Craig Kliethermes said.
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The cedant suffered $500mn+ of Irma loss creep and looks likely to fare worse than the broader market.
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Aviation insurers are re-evaluating grounding cover following the downing of an Ethiopian Airlines passenger jet.
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The ratings agency warns that Brexit, price competition and regulation will hold back profits.
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The repositioning of AIG and FM Global has led to a 1 April renewals period where the balance of power is tipped in London’s favour.
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