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Casualty reinsurance

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

StarStone establishes new casualty consortium for Australian market

13th August 2018

International specialty insurance firm StarStone has launched a new casualty consortium targeted at the Australian and New Zealand markets, led by StarStone's Casualty Underwriter, Mark Hunt. StarStone Underwriting Australia Pty Limited, StarStone’s Lloyd’s coverholder in Australia, has already begun underwriting this facility on behalf of a consortium of Lloyd’s syndicates. The company ... Read the full article

Barbican Protect adds new development underwriters to casualty team

2nd August 2018

Barbican Protect, the UK insurance arm of Barbican Insurance Group, has appointed Keith Irwin and Deanne Rogers as development underwriters within the firm’s casualty team. Irwin, who joins Barbican from Beazley, will be tasked with developing a new specialty casualty portfolio that focuses on the rail and automotive sectors. He is based ... Read the full article

Ethos appoints Kevin Mooney as SVP and Head of SME, Casualty

18th July 2018

New York-based MGA Ethos Specialty Insurance Services, part of Ascot Group, has announced the appointment of Kevin Mooney as Senior Vice President (SVP) and Head of Small Medium Enterprise (SME), Casualty. Mooney will be reporting to Rory Cline, Ethos’ Chief Underwriting Officer, and will focus on developing excess casualty products for ... Read the full article

U.S. P&C insurers return to underwriting gains in 2018: ISO, PCI

13th July 2018

After suffering underwriting losses for seven quarters in a row, private U.S. property and casualty (P&C) insurers recorded net underwriting income of $4.2 billion in the first-quarter of 2018, according to analysis by ISO, a Verisk business, and the Read the full article

XL Catlin appoints leaders for U.S Multinational Casualty Insurance

12th July 2018

XL Catlin has appointed Stefan Homberger as Head of Multinational Casualty Insurance in the U.S and promoted Arielle Moody to team lead for its U.S Eastern Region Multinational Casualty group. Homberger has worked at XL Catlin for 20 years, having most recently served as Underwriting Manager for Multinational Casualty Programs. Commenting on ... Read the full article

2017 losses unmasked broader reinsurance price inadequacy: KBW

20th June 2018

The major hurricane and catastrophe losses of 2017 while not sufficient to significantly boost property catastrophe reinsurance rates, have unmasked the inadequacy of pricing more broadly across the sector, according to analysts. Reinsurance pricing did respond to the losses of 2017, but increases seen at the key January reinsurance renewals ... Read the full article

XL Catlin bolsters Global Excess Casualty Insurance team with two key appointments

5th June 2018

XL Catlin has further strengthened its Global Excess Casualty Insurance team following the dual appointments of Donnacha Smyth as President, Global Excess Casualty Insurance and Carla Greaves as Chief Underwriting Officer (CUO), Global Excess Casualty. Smyth, who has served a number of positions with the firm since 2007, is set to ... Read the full article

Strong U.S. casualty market growth driven by quota shares: Munich Re’s Steve Levy

1st June 2018

The U.S casualty reinsurance market has experienced strong growth over the last few years, which has largely been driven by quota share business, according to Steve Levy, President and Chief Executive Officer (CEO) of Munich Re U.S’s Reinsurance Division. Levy explained that U.S casualty insurers are increasingly relying on reinsurance to ... Read the full article

XL Catlin partners with Praedicat to address evolving casualty risks

6th April 2018

XL Catlin has enlisted Praedicat, an InsurTech analytics company, to help address changing liability insurance and reinsurance needs using its emerging risk models and software for casualty re/insurance. The companies have agreed to work together on a multi-year basis, and will utilise Praedicat’s latency risk model and mass litigation scenarios, its ... Read the full article

P&C reinsurers hardest hit by 2017 catastrophes: Fitch

27th March 2018

Property & casualty (P&C) reinsurers experienced the largest impact from catastrophes in 2017, reporting $5.5 billion of losses, up from $1.1 billion in the prior year, according to Fitch Ratings. For P&C re/insurers, 2017 brought the first aggregate underwriting loss since 2011. Reinsurers and Florida specialist sub-segments were hard hit, with catastrophe losses ... Read the full article

Climate change has a net negative credit impact on P&C industry: Moody’s

16th March 2018

Climate change creates significant challenges for the property and casualty (P&C) re/insurance industry, posing risk management and financial risks which account for a net negative credit impact on the sector, according to a recent Moody's report. "The effects of climate change on the frequency and severity of catastrophic events are difficult ... Read the full article

Tailwinds to further drive up earnings for P&C re/insurers: Morgan Stanley

9th March 2018

P&C re/insurers are set for a profitability boost in 2018, driven by tailwinds of further rate improvements and M&A activity and deals that are spurred by the passage of the U.S. tax reform, according to Morgan Stanley. A net pricing increase of just 1-5% is expected to boost re/insurers earnings on ... Read the full article

MultiStrat completes another casualty linked security transaction

15th February 2018

MultiStrat has announced the completion of its latest casualty linked security (CLS) transaction that was backed by a $14 billion alternative asset manager, which will invest $28 million in a Bermuda domiciled segregated account to support re/insurance liabilities associated with $160 million of estimated written premiums. According to an announcement on ... Read the full article

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