Reinsurance News

Casualty reinsurance

Apollo adds four to bolster casualty offering

21st February 2020

Independent specialist insurer and reinsurer, Apollo Syndicate Management, has announced four senior appointments to its Syndicate 1969 at Lloyd's of London, as it continues to bolster its casualty offering. Colm Lyons has been named Head of Casualty at Apollo Syndicate 1969, and will report to Matt Newman, Apollo Group Head of ... Read the full article

Everest Re continues to see opportunity in casualty, says CEO

18th February 2020

Juan Andrade, President and CEO of Everest Re Group, has said that the reinsurer continues to see “good opportunity” in casualty business, despite fears of escalating claims inflation. Speaking as part of an earnings call alongside the release of Everest Re’s 2019 results, Andrade said that the company had provided ... Read the full article

Watford strengthens loss reserves, warns of Q4 net loss

29th January 2020

Loss reserve strengthening in U.S. casualty reinsurance is to push Bermuda-based Watford Holdings Ltd. to a net loss in the fourth-quarter of 2019. The firm has announced a strengthening of net loss reserves of approximately $28 million across the current and prior accident years. Watford states that the reserve strengthening is in ... Read the full article

Casualty/specialty a more compelling pricing story at 1/1, says S&P

21st January 2020

Analysts at S&P Global Ratings have said that sentiment was both stronger and more broad-based in casualty/specialty lines than in the property arena at the January 1st reinsurance renewals. In U.S. non-proportional business, rate increases were substantial and ceding commissions on this business were down by as much as 3% in ... Read the full article

Casualty market pressures see capacity tighten at 1/1: Guy Carpenter

17th January 2020

Casualty reinsurance capacity tightened at the recent January renewals against a backdrop of heightened litigation costs, more generous jury verdicts, and shifting attitudes in the US, according to Guy Carpenter. Analysts noted that many reinsurers were forced to adopt more cautious underwriting positions at 1/1 due to higher loss cost trends, ... Read the full article

AXA XL Risk Consulting appoints Global Casualty Risk Engineering Leader

26th November 2019

AXA XL Risk Consulting has announced the appointment of Sheri Wilbanks as Global Casualty & Environmental Lines of Business Manager. Wilbanks joins the business from AIG, where she most recently served as Global Innovation Lead for AIG’s Client Risk Solutions division. Prior to that position, she served as Casualty and Financial Lines ... Read the full article

Social inflation pushing up costs in US liability insurance: Swiss Re

18th November 2019

Social inflation has emerged as a key factor pushing up loss costs in US liability insurance and could mean “significant pain” for the market in the coming years, according to a new report from Swiss Re. Analysts expect the issue to become an increasingly common theme in the next two years, ... Read the full article

Hiscox pulls out of casualty reinsurance

18th November 2019

Global specialist re/insurer Hiscox has announced its intention to cease writing casualty reinsurance business, due to “ongoing, challenging market conditions.” Concerns over issues such as pricing and reserving mean that the company no longer considers this business to be sustainable. Instead, its reinsurance division, Hiscox Re & ILS, will continue to focus ... Read the full article

Praedicat to develop named peril casualty product from Lloyd’s Lab

13th November 2019

Praedicat, a risk analytics and modelling company for casualty re/insurers and industrial firms, has announced that it plans to develop a new named peril casualty product in the Lloyd’s Lab. Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, selected Praedicat as part of the third cohort ... Read the full article

Ascot appoints four from Allied World to excess casualty team

29th October 2019

Bermuda domiciled specialty insurer and reinsurer, Ascot Group, has appointed a new excess casualty team, including the addition of Patrick Kenahan as Head of Excess Casualty in Bermuda. Alongside Kenahan, Ascot has also announced that Jason Pugi, Kimberley Pursell, and Michael Watkins have joined as Senior Vice Presidents. The entire team has ... Read the full article

Berkshire Hathaway enters casualty & construction markets in France

28th October 2019

Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global insurance and reinsurance company, has commenced underwriting casualty and construction insurance in France. As part of this move, the company also announced the appointments of Olivier Antiphon as Head of Construction and Anne-Sophie Bonifay as Head of Casualty for ... Read the full article

Aon’s Reinsurance Solutions adds co-leaders of UK & Ireland and Specialty Casualty

24th October 2019

Aon's Reinsurance Solutions segment has announced the appointment of Dean Jenner and Richard Evans as co-leaders of its UK & Ireland and Specialty Casualty business. Both Jenner and Evans will report to Peter Stubbings, Reinsurance Solutions' Chief Executive Officer (CEO) of Global ReSpecialty, and will work with a leadership group of ... Read the full article

Casualty markets undergoing abrupt shift to profitability: Lockton

14th October 2019

Pricing adequacy has continued to increase across the US casualty re/insurance market, with some lines undergoing an abrupt shift to a renewed focus on profitability, according to global re/insurance brokerage Lockton. The umbrella and excess casualty markets in particular have seen a positive turn, Lockton said, with carriers now demanding higher ... Read the full article

Re/insurance opportunity as mass tort litigations escalate: Praedicat CEO

3rd October 2019

With mass tort style litigations reaching new highs in 2019, insurance and reinsurance companies should increasingly be thinking about how to capitalise on this emerging opportunity, according to Robert Reville, CEO of insurtech risk modelling and analytics firm Praedicat. Speaking at the Reinsurance Rendezvous event in Monte Carlo, Reville explained that ... Read the full article

Hamilton recruits Head of Casualty & Specialty Reinsurance from Third Point Re

1st October 2019

Bermuda-based re/insurer Hamilton Insurance Group has announced the appointment of Steve Wilson as Senior Vice President (SVP), Head of Casualty & Specialty for its new US reinsurance platform. Wilson joins Hamilton from Third Point Re, where he most recently served as SP Underwriting. Prior to this he spent over 11 years at ... Read the full article