Reinsurance News
Casualty reinsurance
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
Lorraine Seib to lead Vantage Group’s US excess casualty business
20th January 2022
Vantage Group Holdings has appointed Lorraine Seib to lead its US Excess Casualty Insurance business. Seib brings years of experience within commercial insurance and excess risk and in primary commercial lines, RPGs and MGAs. She previously led the Excess Casualty business at Aspen Insurance Group, XL Catlin Insurance Company, and Travelers Insurance, ... Read the full article
Casualty market proves value as diversifier for reinsurers: Aon
18th August 2021
Re/insurance broker Aon has released a new report for the first half of 2021, giving insight into the Property & Casualty insurance market. The broker's report underlined how the casualty market is proving its value as a good diversifier for reinsurers' challenged property experience in recent years, along with robust primary ... Read the full article
Aon & Praedicat collaborate to address reinsurance coverage gaps in casualty
2nd March 2021
A new collaboration between re/insurance broker Aon and Praedicat, a liability emerging risk analytics company, looks to address reinsurance coverage gaps arising from emerging risks through the development of "named peril" products for insurers. The partnership will result in the development of a range of specialist liability reinsurance solutions that address ... Read the full article
Casualty renewals see underwriting tighten against stress factors: GC
21st January 2021
Reports from re/insurance broker Guy Carpenter (GC) show that casualty reinsurance renewals varied widely at January 1, 2021, with negotiations influenced by individual circumstances such as loss experience, covered lines and classes written. But despite this divergence, analysts believe that every placement experienced some degree of continued reinsurance underwriting rigor. This trend ... Read the full article
Casualty renewals varied widely at 1/1, brokers report
8th January 2021
Re/insurance brokers have reported that casualty renewals varied widely at January 1, depending on individual circumstances including loss experience, covered lines and industry classes written. Casualty pricing at 1/1 was heavily influenced by social inflation, the low interest rate environment and communicable disease, as well as the ample capacity that was ... Read the full article
COVID-19 tail unclear, but we’ve much further to travel in casualty: Willis Re
16th October 2020
While insurers and reinsurers looked to book much of their pandemic losses in the second-quarter, the potential for casualty lines development could persist for years and be very significant, according to executives at reinsurance broker Willis Re. It's likely to be years before we understand the full impact of the ongoing ... Read the full article
QBE Re combines Casualty Treaty teams to support growth
3rd September 2020
QBE Re, the reinsurance division of global insurer QBE, has announced the combination of its US and International Casualty Treaty reinsurance teams into one business unit. QBE Re London states that the establishment of a single Casualty Treaty reinsurance team is designed to enable a "unified market proposition" as the company ... Read the full article
AXIS Re names Osterrieder as Head of Casualty for North America
6th August 2020
AXIS Re, the reinsurance arm of Bermuda-based AXIS Capital Holdings Limited, has promoted Dan Osterrieder to Head of AXIS Re Casualty North America. Effective August 17th, Osterrieder will be responsible for leading AXIS Re’s casualty unit in North America. The role will span areas such as General Liability, Auto, Umbrella & Excess, ... Read the full article
Lancashire to expand into hard market, venture into casualty lines: CEO & CUO
29th July 2020
Lancashire Holdings, the specialty insurance and reinsurance underwriter, is targeting expansion of its book into 2021, to take advantage of the hardening and dislocated market, including into casualty risks, a new class of business to the firm. Discussing the move, CEO Alex Maloney explained that, "It feels like the time for ... Read the full article
Praedicat releases COVID-19 litigation tracker results
29th July 2020
Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has released the initial results from its COVID-19 litigation tracker platform. The newly launched platform found that more than 200 casualty-relevant virus complaints have already been filed in the US courts. The complaints allege that corporate defendants are responsible ... Read the full article
Casualty reinsurance demand strong amid market volatility: Aon
15th July 2020
Aon has reported that demand for reinsurance remains strong in the casualty space as insurers continue to deal with the volatile conditions created by rising social inflation and the COVID-19 pandemic. The broker expects reinsurance outcomes to vary widely depending on cedent experience and exposures, but noted that rate improvement now ... Read the full article
Willis Re names James Moss as co-head of Specialty Casualty business
8th July 2020
Willis Re, the reinsurance broking arm of Willis Towers Watson (WTW), has announced the appointment of James Moss as co-head of its Specialty Casualty practice. He will work in tandem with Chirag Shah to lead Willis Re Specialty’s Casualty strategy in London. Moss has 30 years’ experience and joins from Lockton Re, ... Read the full article
Casualty risk has been underpriced for a decade: Stephen Catlin
24th February 2020
Insurers have “significantly underpriced” casualty business over the past 10 years and could now be headed towards “a crisis of catastrophic proportions,” according to Stephen Catlin, the former founder of the Catlin Group and current CEO of Convex Group. Writing in Best’s Review this month, Catlin said a casualty pricing crisis ... Read the full article