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Casualty reinsurance

Casualty erosion prompts A.M. Best to downgrade Allied World rating

18th February 2019

The Long-Term Issuer Credit Ratings (Long Term ICR) of Allied World Assurance Company and its affiliates has been been downgraded by AM Best from a+ to a, while its Financial Strength Rating (FSR) of A (Excellent) has been affirmed. The ratings agency has also downgraded the Long-Term ICR of Allied World’s ... Read the full article

Moderate casualty reinsurance rate increases expected in 2019: AmWINS

30th January 2019

After several years of declines, casualty reinsurance premiums bucked the recent trend in 2018, and going into 2019, continued, modest increases are expected in primary casualty reinsurance, according to AmWINS. According to the global specialty insurance provider, rate increases in casualty reinsurance are being driven by a number of factors. This ... Read the full article

Liberty Mutual Re adds international casualty underwriter to Paris office

17th January 2019

Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Vincent Gilardi as Senior Underwriter for International Casualty, effective immediately. Based in the company's Paris office, Gilardi reports to the reinsurer's Head of Europe and MENA, Eric Sugier. He joins the firm from XL Catlin, where he served as ... Read the full article

Pricing broadly stable across U.S casualty renewals, finds Willis Re

3rd January 2019

The latest 1st View report from Willis Re has found that U.S casualty reinsurance pricing trends were mixed at the 1 January 2019 renewals, with pockets of rate increases and decreases across a broadly stable market. The findings came as part of the broker's wider market analysis, which found that Read the full article

Hamilton Re appoints Liam Chan as SVP, Casualty & Specialty

28th November 2018

Hamilton Re, the reinsurance arm of Bermuda-based Hamilton Insurance Group, has promoted Liam Chan to the position of Senior Vice President (SVP), Casualty & Specialty. Reporting to Tim Duffin, Chan will underwrite a broad portfolio of casualty and professional lines business including several specialty classes. Chan joined Hamilton Re in 2015 as ... Read the full article

Liberty Mutual restructures excess casualty operations, increases capacity

22nd November 2018

U.S primary insurer Liberty Mutual Insurance has realigned its excess casualty operations and increased its capacity for the business to $100 million. Effective from 1 January 2019, the company’s excess casualty capabilities will benefit from dedicated underwriting teams on both an admitted and excess and surplus (E&S) basis. All admitted excess casualty ... Read the full article

Commercial insurance market set to firm as casualty losses mount: WTW

7th November 2018

Commercial insurance buyers are expected to face firming prices across multiple business lines, driven in part by losses across the casualty space, according to broker Willis Towers Watson (WTW). Casualty insurance losses are mounting, WTW says in its latest Marketplace Realities report, leading the broker to forecast some firming of prices ... Read the full article

Everest Insurance appoints leader for Risk Management business unit

23rd October 2018

Everest Insurance, a division of global reinsurer Everest Re Group, has announced that Christopher McKeon, current Vice President and Head of Commercial Casualty, will also assume leadership for the company’s Risk Management business unit. Risk Management and Commercial Casualty will continue to join with the Workers’ Compensation, Multinational, Energy and Transportation ... Read the full article

IVANS Index September renewals update mixed: KBW

18th October 2018

The IVANS Index - which tracks commercial premium renewal rates - rose sequentially in September for Commercial Auto and Umbrella, and declined sequentially for Business Owner Policy, General Liability, Commercial Property, and Workers Compensation, according to analysts at Keefe, Bruyette & Woods. KBW expects commercial casualty rate increases to mostly gain ... Read the full article

Named peril casualty cover is $90bn per year opportunity, says Praedicat CEO

17th October 2018

Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics firm, has claimed that developing named peril casualty cover is currently the biggest opportunity in re/insurance, representing a potential $90 billion annual growth opportunity. Praedicat analyses scientific literature to model more than 60,000 potential disease litigation scenarios, ... Read the full article

JLT FAC names Joe Ameruoso as Head of North America Construction Casualty

15th October 2018

JLT FAC, the facultative reinsurance division of broker JLT Re (North America) Inc., has announced the appointment of Joe Ameruoso as Head of North America Construction Casualty, Facultative. Ameruoso will be based in JLT FAC’s New York Office, and joins the company from Starr Indemnity & Liability Co in Primary Construction, ... Read the full article

Sompo International forms new Casualty Facultative Reinsurance team

10th October 2018

Bermudian property and casualty re/insurer Sompo International has announced the launch of a new Casualty Facultative Reinsurance operation, to be led by Dave Adams, who has been appointed as Executive Vice President, Specialty/Facultative Reinsurance Team Leader. Adams will join Sompo International Reinsurance this week alongside an underwriting team of seven specialists ... Read the full article

AXA XL announces two senior promotions within Excess Casualty business

26th September 2018

AXA XL has announced two senior promotions within its Excess Casualty Insurance business, appointing Vivienne Moniz and Elaine Scully Head of Excess Casualty, Bermuda and Head of Excess Casualty, Dublin, respectively. Moniz brings over 15 years’ experience to the role and will report to XL Bermuda Chief Executive Officer of Insurance, Patrick ... Read the full article

Further cat losses may impact casualty and specialty lines: JLT Re’s Harrison

11th September 2018

While property catastrophe lines of reinsurance would likely prove resilient to a second consecutive year of heavy catastrophe losses, casualty and specialty lines might feel the impact more severely, according to Keith Harrison, Chief Executive Officer (CEO) for UK & Europe at JLT Re. Both traditional reinsurers and alternative capital markets ... Read the full article

JLT Re warns of inflection point as re/insurers accelerate reserve releases

3rd September 2018

JLT Re, the reinsurance broking arm of global brokerage JLT Group, has described the recent reserving practices of some insurers and reinsurers as somewhat aggressive, noting that some companies are accelerating their releases in certain business lines. While much of the marketplace focuses on the property catastrophe losses of 2017 as ... Read the full article

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