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Holborn recruits CFO Timothy Amman from Goldman Sachs
22nd July 2020
U.S. domiciled reinsurance broker Holborn Corporation has announced the appointment of Timothy R. Amman as Executive Vice President and Chief Financial Officer, effective immediately. He joins Holborn from Goldman Sachs, where he was a Managing Director and held a number of roles within the firm's Controllers team since 2008. Most recently, Amman ... Read the full article
Goldman Sachs still cautious on P&C heading into 2020
8th January 2020
Analysts at Goldman Sachs remain cautious in their outlook for commercial property and casualty (P&C) re/insurance in 2020, as potential positive rate momentum is balanced against broadening loss trend deterioration. That said, the firm believes many reinsurers are positioned to grow their top lines this year, supported by pockets of rate ... Read the full article
New tech unlocks opportunities for SME insurance: Goldman Sachs
16th December 2019
Technological developments are increasingly enabling large re/insurance companies to overcome challenges that had previously prevented them from making more inroads into the small commercial market (SME) space, according to Goldman Sachs. Analysts noted that the SME insurance marketplace is seen as an attractive segment for larger companies due to its more ... Read the full article
Goldman Sachs’ Love joins AIG to lead Global Real Estate
19th July 2019
Global insurer and reinsurer AIG has hired James Love from Goldman Sachs as its new Global Head of Real Estate, effective August 6th, 2019. Based in New York, Love will report to AIG's Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance, Peter Zaffino. In his new role, ... Read the full article
Rates to increase through April 2020 regardless of storm activity: Goldman Sachs
6th June 2019
Analysts at Goldman Sachs believe that catastrophe reinsurance and retrocession rates will continue to increase through to April 2020 regardless of how active this year’s storm season is. However, the firm does not believe that rate increases will continue into the June 2020 renewals and beyond without another above-year average loss ... Read the full article
Aston Lark acquired by Goldman Sachs
20th May 2019
UK insurance broker Aston Lark has been acquired by the Merchant Banking division of Goldman Sachs. Aston Lark has stated that the deal - expected to close following receipt of approvals from the Financial Conduct Authority and the Central Bank of Ireland, and antitrust approval - will not signal change in ... Read the full article
Reinsurance rates to improve through mid-year 2019: Goldman Sachs
11th January 2019
While early indications indicate that reinsurance pricing was largely flat at the January 2019 renewals, analysts at Goldman Sachs are confident that rates will improve later in the year at the renewals in April and June. The firm argued that two consecutive years of elevated catastrophe activity should lead to improved ... Read the full article
Everest Re optimistic about 2019 renewals, reports Goldman Sachs
30th November 2018
Global reinsurer Everest Re is optimistic about the pricing outlook for reinsurance renewals over 2019, anticipating rate increases across property catastrophe, specialty and casualty lines, according to analysts at Goldman Sachs. After a series of meetings with Everest Re’s management, including its CEO, CFO and presidents of the Reinsurance and Insurance ... Read the full article
Reinsurers to see localised rate increases over 2019: Goldman Sachs
26th November 2018
Although overall reinsurance pricing momentum overall is likely to slow going into 2019, Goldman Sachs expects to see localised rate increases in some areas that have experienced heavy catastrophe losses over 2018. In Japan, Goldman Sachs predicted that the $8 billion loss from Typhoon Jebi (with a $2 billion reinsurance attachment) ... Read the full article
Insured wildfire losses may exceed highest estimate: Goldman Sachs
22nd November 2018
As the scope of damage from the California wildfires continues to expand, it’s becoming increasingly likely that insured losses will fall in the upper limit of, or exceed, the latest $9 billion to $13 billion RMS estimate, according to analysis by Goldman Sachs. Most of the destruction was caused by ... Read the full article
Goldman Sachs anticipates muted 1/1 renewal season
13th November 2018
Goldman Sachs expects a muted 1/1 renewal season with flat pricing across the property and casualty lines. Meanwhile, the firm says the main questions around catastrophe losses in 4Q18 will likely be the scale of insured losses from the wildfires currently raging in California, and loss creep from last year's ... Read the full article
AIG cat losses a “concern” with Q4 still looming: Goldman Sachs
24th October 2018
American International Group’s consolidated year-to-date (YTD) catastrophe losses are already 81% higher than its full year expected average annual loss (AAL), raising concerns over the efficacy of the company's reinsurance program, according to Goldman Sachs. AIG expects between $1.5 billion and $1.7 billion in cat losses for the third quarter (double ... Read the full article
Modest cat losses to pressure rates at 1/1 renewals: Goldman Sachs
8th October 2018
Reinsurance pricing is likely to come under further pressure at 1 January 2019 renewals due to below-average catastrophe losses over 3Q 2018 and a sustained influx of alternative capital, according to investment bank Goldman Sachs. Property catastrophe modelling firms estimate that insured industry losses over the third quarter of 2018 will ... Read the full article
Re/insurers optimistic about investment and asset management opportunity: Goldman Sachs
5th May 2017
Goldman Sachs' latest insurer asset management survey reveals a dramatic change in the usual credit cycle for inflation, rates and equity returns, with only one-third of insurers now believing they're in the late stages of the credit cycle, compared with last year's three quarters of correspondants. This represents a reversal in ... Read the full article
Munich Re will adjust to climate change to supply nat cat cover – Goldman
6th July 2022
Munich Re has a “strong appetite for nat cat” and believes they have the skills and capabilities to write it, according to a statement by Goldman Sachs, following a management meeting on June 30th. However, investors have questioned whether reinsurance companies should decrease natural catastrophe exposure ... Read the full article