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Naturally moderated P&C price momentum to persist: Goldman Sachs
20th March 2024
According to analysts at Goldman Sachs, the moderating pricing momentum in the Property and Casualty (P&C) sector has persisted in the early months of the year and is expected to continue throughout 2024. Goldman comments, “Price momentum has naturally moderated after the strong increases in 2020-21.” In 2022, there was a price ... Read the full article
Proposed legislation could reshape catastrophe re/insurance landscape in US: Goldman Sachs
18th January 2024
In response to the increasing costs and risks associated with catastrophic events, there is a notable surge in legislative efforts at both the Federal and State levels, according to Goldman Sachs. Notably, California Representative Adam Schiff has introduced a bill, known as the INSURE Act (H.R. 6944), aiming to create a ... Read the full article
GoldenTree hires Goldman Sachs’ Charlie Fuller as Head of NA insurance
19th December 2023
Global asset management firm, GoldenTree Asset Management, has hired Charlie Fuller as Partner and Head of North American Insurance coverage, a newly created role, where he will be based in the firm’s New York office and will report to Kathy Sutherland, GoldenTree’s CEO. Bringing over 20 years of industry expertise, Fuller ... Read the full article
Ex Goldman Sachs execs team up with industry veterans to launch transactional risk firm
9th November 2023
Ex Goldman Sachs executives have partnered up with industry veterans to launch Birch Risk Advisors, a New York-based firm that provides specialized insurance solutions for unique transactional risks. Backed by global insurer AmTrust Financial, the new insurance advisory firm will be led by Steve Bunson, Barry Sklar, Sheldon Elefant, and David ... Read the full article
MGA DOXA Insurance Holdings to be acquired by Goldman Sachs Asset Management
8th November 2023
DOXA Insurance Holdings, an underwriting and distribution company based in North America, has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management. According to the announcement, the transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions and regulatory approvals. Waller Helms ... Read the full article
Positive pricing outlook for London Market insurers should support underwriting: Goldman Sachs
18th October 2023
At the first half of 2023 results - and while going through a hard market - pricing outlooks remain positive, which should support underwriting margins for London Market insurers, according to Goldman Sachs. At the same time, continued underwriting discipline from reinsurers - as they continue to feel the impact of ... Read the full article
WTW considers re-entering into treaty reinsurance: Goldman Sachs
9th October 2023
WTW is considering re-launching back into treaty reinsurance, Goldman Sachs has revealed following a management meeting with the insurance broker. Back in 2021, WTW sold its reinsurance arm Willis Re to Gallagher. A clause in the terms of agreement stated that WTW would not broker treaty reinsurance products again until ... Read the full article
Strong Q3’23 expected for reinsurance and auto insurers: Goldman Sachs
6th October 2023
In a recent report, Goldman Sachs offers an optimistic outlook for the insurance industry's third-quarter earnings, particularly favouring reinsurance and auto insurers. The analysis suggests that property catastrophe reinsurers are poised for a robust quarter, driven by strong earnings and favourable pricing trends. Goldman Sachs anticipates that property catastrophe reinsurers will deliver ... Read the full article
Insurance brokers poised for another strong quarter despite some deceleration: Goldman Sachs
5th October 2023
Goldman Sachs' latest report highlights a positive outlook for insurance brokers in the Americas as they head into the third quarter of 2023. Despite expectations of some deceleration in growth, brokers are set to enjoy above-average organic growth, thanks to a favourable broking environment. The report suggests that several factors are contributing ... Read the full article
US Q3 insured losses modestly below 10-year average: Goldman Sachs
4th October 2023
"Globally, we see ~$27bn of insured losses, with the US generating ~$17bn of the losses, which is modestly below the 10-year 3Q average," suggest analysts at Goldman Sachs. According to the firm's analysts, the majority of the US quarterly losses stemmed from the wildfires in Hawaii, and the impacts of Hurricane ... Read the full article
Reinsurance pricing to normalise in late 2024, says Goldman Sachs
2nd October 2023
Analysts at Goldman Sachs expect rate firming to persist in reinsurance lines of business through the rest of 2023, with a deceleration in the January 1st, 2024, renewal rate changes, and pricing to normalise in late 2024. Despite reinsurance pricing normalisation anticipated late next year, analysts still expect to see continued ... Read the full article
Reinsurance industry navigates changing landscape of alternative capital and cat bonds: Goldman Sachs
13th September 2023
Goldman Sachs, a prominent player in the financial industry, has offered insights into the evolving landscape of reinsurance structures, which are seeing primary retentions shift higher, and the growing interest in alternative capital funding, signifying significant changes in the reinsurance market. One key trend identified by Goldman Sachs is the shift ... Read the full article
Goldman Sachs to invest more than $1bn in World Insurance Associates
24th August 2023
World Insurance Associates LLC has announced that funds advised by Goldman Sachs Asset Management, via its private equity and hybrid capital teams, have entered into a definitive agreement to make a major investment in the company. Goldman Sachs, across two investments, will be investing more than $1 billion into World, which ... Read the full article
Goldman Sachs still expects double-digit premium growth in reinsurance brokerage
14th July 2023
Analysts at Goldman Sachs still expected reinsurance broking businesses to report double-digit premium growth in the second quarter of 2023, as well as strong results in retail property and casualty (P&C) globally. In a recent report, analysts discuss pricing and exposure growth for insurance and reinsurance brokers in the Americas. As well ... Read the full article
Insured cat losses in Q223 estimated to reach ~$17bn: Goldman Sachs
10th July 2023
Insured losses from major natural catastrophes in the second quarter of 2023 are estimated to reach ~$17 billion, Goldman Sachs has revealed. This includes ~$13 billion from the US, driven by hail and severe convective storms over southern states and Texas. The ~$17 billion loss is modestly above the 10-year Q2 average, ... Read the full article