Reinsurance News
Casualty reinsurance
AXIS and Stone Point launch casualty-focused collateralized reinsurer Monarch Point Re
29th September 2023
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has partnered with Stone Point Credit Advisers LLC to launch Monarch Point Re, a new, Bermudian collateralized reinsurer with over $400 million of capital raised. The more than $400 million of equity includes a $75 million investment from a subsidiary of AXIS and ... Read the full article
Lloyd’s yet to demonstrate same zeal for rate adequacy in casualty book: Tiernan
21st September 2023
"As a market, we have not yet demonstrated the same zeal for rate adequacy in the casualty book as we've seen in property, this is particularly true for US general liability, where rate is barely keeping up with inflation, despite the continuing deterioration of the 2014-2018 years of account," suggests ... Read the full article
Better alignment for Japanese business at 1/4 reinsurance renewals: Gallagher Re
12th April 2023
The April 1 reinsurance renewals saw a better alignment of client and reinsurer expectations in Japan in the casualty market, according to Gallagher Re's 1st View report. For Japanese buyers, both client and reinsurers expectations were better aligned than at January 1, which led to a more orderly renewal process, the ... Read the full article
Casualty market a silver lining to “turbulent” 1/1: Aon’s Amanda Lyons
24th February 2023
Amanda Lyons, Senior Managing Director, US Casualty at Aon, has contended that the relatively more stable market for casualty reinsurance represented a “silver lining” to an other wise “turbulent” January 1 renewal. Despite wider reinsurance market and macro-economic headwinds, Lyons argues that casualty remains an attractive market for reinsurers, especially as ... Read the full article
Casualty remains an attractive market for reinsurers, suggests Aon’s Light
14th February 2023
Despite wider reinsurance market headwinds, casualty remains an attractive market for reinsurers, especially as they look for opportunities to diversify away from property catastrophe, says Nigel Light, Global Casualty Leader, Aon Reinsurance Solutions. Light's comments stem from Aon Reinsurance Solutions' international casualty report, which suggests that the market remains largely stable ... Read the full article
Casualty market stable despite complications at renewals: Aon
24th January 2023
Relative to other reinsurance markets, the casualty market remains generally stable following the January renewals period, according to a recent report by re/insurance broker Aon. This is despite renewals being complicated by the demand-supply mismatch in property catastrophe. The quotation process was delayed and more involved than recent renewals, as reinsurers ... Read the full article
David Mann to lead Everest Reinsurance UK Casualty team
9th November 2022
Everest Reinsurance, the reinsurance division of Everest Re Group, has announced the appointment of David Mann as Vice President, Head of Casualty for Everest Reinsurance (Bermuda) for the UK Branch. In his new role, Mann will lead the growth of the London Casualty Treaty portfolio and Professional Lines, supporting the company’s ... Read the full article
Praedicat launches Nekomodel X for casualty cat risk
3rd November 2022
Praedicat, the liability emerging risk analytics company, has launched a new probabilistic casualty catastrophe model called Nekomodel X to help facilitate exposure-based pricing and reserving for insurers. Nekomodel X is designed to expand on the underwriting applications of previous model releases, incorporating data on exposure to emerging risks to help drive ... Read the full article
US social inflation trends could spread globally: Swiss Re’s Ojeisekhoba
12th September 2022
Moses Ojeisekhoba, CEO Reinsurance at Swiss Re, has warned that the adverse social inflation trends afflicting the re/insurance market in the US could easily spread out to other parts of the world. Speaking at Swiss Re’s press briefing at the RVS 2022 event in Monte Carlo today, Ojeisekhoba and Thierry Léger ... Read the full article
Reinsurance capital re-deployed to casualty & specialty lines: AM Best
19th August 2022
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines, in order to seek better returns. The rating agency notes a consensus that positive price movements are being led by primary markets, and in particular ... Read the full article
Coverage and pricing decline in the casualty insurance market in Q1 2022
21st June 2022
Casualty insurance has seen a decline in coverage and pricing in the first quarter of 2022, with both of them presenting potential challenges to the market, according to the latest Alliant report. US insurance broker states that, while still early, the impact of COVID-19 and the war in Ukraine will likely ... Read the full article
Capacity returning to the excess liability market – WTW
17th June 2022
Domestic US casualty deployed capacity has increased to $950 million, up from $690 million in early 2020, according to new data released by WTW. This, they say, is the result of legacy carriers recently utilising more of their available capacity on excess towers. The report finds that carriers are more inclined ... Read the full article
QBE North America launches Specialty Casualty business unit
3rd May 2022
QBE North America has announced the launch of a Specialty Casualty business. The launch is part of the company’s strategy to invest in areas where the insurer can offer distinct advantages to business customers. QBE’s Specialty Casualty offering will include admitted and non-admitted primary, lead umbrella and excess liability products, targeting a ... Read the full article
RenRe launches casualty & specialty joint venture
5th April 2022
Bermuda headquartered reinsurance specialist RenaissanceRe, has announced the creation of Fontana Holding L.P. and its subsidiaries - a joint venture dedicated to writing Casualty and Specialty risks. In a press release, it states that Fontana launched with $475 million of capital and targets institutional investors, who contributed $325 million, with the ... Read the full article
London Market reinsurers look to casualty at Jan 1: Miller
2nd February 2022
Reflecting on the January 1 renewal period, analysts at Miller have noted that casualty business became relatively more attractive to reinsurers in the London Market, following another year of elevated losses in the property catastrophe space. Miller observed a “mixed set of outcomes” at the crucial 1/1 reinsurance renewals, with a ... Read the full article
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