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Society must prepare for more frequent and severe extreme weather events: Swiss Re

17th August 2018

Martin Bertogg, Head of Catastrophe Perils at reinsurance giant Swiss Re, has called on society to adapt and prepare for increasingly frequent and severe occurrences of extreme weather conditions, such as the heatwaves and dry spells witnessed in recent times. The Swiss Re Institute, a division of Switzerland-based reinsurer Swiss Re, ... Read the full article

Lloyd’s syndicates hit by further loss creep

17th August 2018

Data from the specialist Lloyd's of London insurance and reinsurance marketplace, reveals that the most recent syndicate projections for the 2017 year of account (YoA) includes further loss deterioration in Q2, at the mid-point. According to the data, which details Lloyd's syndicates' capacity for the 2017 YoA and both the best ... Read the full article

Aon names Brian Wanat Chief Broking Officer, U.S. Commercial Risk Solutions

17th August 2018

Insurance and reinsurance broker Aon has announced the appointment of Brian Wanat to the position of Chief Broking Officer of U.S Commercial Risk Solutions. Wanat will report to Aon’s Chief Executive for U.S Retail, Lori Goltermann, and his management responsibilities will span across the Financial Services Group, National Property, National Casualty, ... Read the full article

U.S economic hail losses to exceed $10bn for 11th year, say experts

17th August 2018

2018 is looking likely to become the 11th year in a row that U.S economic losses from hail have exceeded $10 billion, a figure set to increase as population growth drives up potential for property and infrastructure damage. Furthermore, in all decades since 1960, except for 2000 - 2009, insured losses ... Read the full article

Don’t take cyber market for granted, accumulation real threat: Geneva Association

17th August 2018

Despite having responded to increasingly widespread and sophisticated threats with expanded offerings and premium volumes, the cyber re/insurance market’s own growth and effectiveness should not be taken for granted, warns leading think tank the Geneva Association. Anna Maria D'Hulster, Secretary General of the GA, acknowledges re/insurers’ historical experience with expanding the ... Read the full article

Cullen and Dykman appoints head of Risk Transfer & Insurance Coverage group

17th August 2018

New York based law firm Cullen and Dykman LLP has announced that Julie Weerth has joined as a Partner in its Construction Litigation and Insurance Coverage Practices, where she will lead the Risk Transfer & Insurance Coverage group. Weerth formerly served as Vice President of Complex Casualty Claims at AIG, and ... Read the full article

Re/insurers accelerate Brexit plans: A.M. Best

17th August 2018

As widespread and seemingly growing uncertainty remains around the UK's vote to leave the European Union (EU), insurers and reinsurers in the country have stepped up their post-Brexit plans in an effort to ensure continuity for clients, reports A.M. Best. The outcome of the UK's Brexit vote remains very uncertain for ... Read the full article

CATCo lines up $1bn of underwriting for Jan 19, expects flat pricing

17th August 2018

Markel CATCo's listed retrocessional reinsurance fund, the CATCo Reinsurance Opportunities Fund Ltd., has already lined up $1 billion of underwriting for January 2019, achieving similar rates to 2018. The company has released its first-half 2018 report, which reveals that mid-year renewals were successful, at the same increased pricing achieved at the ... Read the full article

XL Catlin expands North America excess casualty insurance team

17th August 2018

XL Catlin’s North America Construction business has bolstered its excess casualty insurance team with the appointments of underwriters Jillian Eckert and Laura Travis to its Philadelphia office. “Given the pace of construction activity throughout the Mid-Atlantic states and the size of construction projects throughout the region, the need for quality excess ... Read the full article

Liberty Specialty aims to double the size of general liability business in Netherlands

17th August 2018

Liberty Specialty Markets, a division of Liberty Mutual Insurance, has revealed plans to significantly increase the volume of general liability (GL) business from its Netherlands office. "We’ve been developing our plans and are now ready to roll them out with the express aim of doubling the size of our GL book,” ... Read the full article

LTCG administers Wilton Re & CNO reinsurance transaction

17th August 2018

Wilton Re has selected long-term care specialist, LTCG, to administer the 70,000 policies and approximated 8,000 active claims included in its August 1 long-term care insurance indemnity reinsurance agreement with CNO Financial Group subsidiary, Bankers Life and Casualty Company. LTCG will offer a complete processing solution which includes policy administration, care ... Read the full article

Combined Irma loss creep exceeds $1bn for Floridian insurers

16th August 2018

The devastation caused by hurricane Irma continues to impact Floridian insurance companies, with a number of market players increasing their loss reserves as creep from the storm continues. Recorded as the strongest storm to exist in the open Atlantic region, hurricane Irma devastated parts of South U.S., especially Florida, as well ... Read the full article

Allstate’s YTD catastrophe loss bill falls by 22%

16th August 2018

The Allstate Corporation (Allstate) has announced estimated catastrophe losses for the month of July of $262 million, pre-tax ($207 million after-tax), driven primarily by two severe hail events and the Carr wildfire in Northern California. 15 events in July, 2018 saw catastrophe losses alone contributed $220 million, pre-tax, of the overall ... Read the full article

Swiss Re hires ex-BAML analyst Olivia Brindle to P&C Analytics Solutions team

16th August 2018

Global reinsurance firm Swiss Re has hired a recognised industry equity analyst from Bank of America Merrill Lynch, appointing Olivia Brindle to the firms P&C Analytics Solutions team. Brindle joined Swiss Re this month and will be based in Zurich, taking on the role of Senior P&C Analytics Solutions Manager within ... Read the full article

Capsicum Re appoints Cyber Broker and Wordings Director

16th August 2018

Specialist reinsurance broker Capsicum Re has announced the appointment of Jasper Goring as a Cyber Broker and Prab Naidu as Wordings Director within its cyber division. Goring joins Capsicum Re from Paragon International Insurance Brokers, where he most recently served as Senior Vice President and focused on cyber business in the ... Read the full article

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