Reinsurance News
Casualty reinsurance
Casualty reinsurance provides insurers with protection against large, unexpected losses from liability-based risks.
Casualty lines of business include claims arising from legal responsibility for injury or damage to others, including auto liability, medical malpractice, D&O (Directors & Officers), as well as product liability, errors and omissions (E&O), and many more niche liabilities.
The casualty reinsurance market is a significant component of the global reinsurance market and its risks have a far longer-tail than many catastrophe or specialty lines.
As such, casualty reinsurers are highly specialised and the casualty market also makes use of run-off and legacy reinsurers, to enable them to gain finality on elements of their casualty reinsurance portfolios.
Read all our casualty reinsurance news below.
Reinsurance News Monte Carlo Executive Roundtable
29th October 2024
The Reinsurance News Monte Carlo Executive Rendezvous Roundtable took place at the 66th edition of RVS in September 2024 and featured insightful discussions on the reinsurance market as we head towards the key January 2025 renewals. In partnership with BMS Re and PwC, the 2024 Reinsurance News ... Read the full article
Reinsurance market participants divided on price movements at Jan ’25 renewals: Fitch
25th September 2024
Reinsurance market players are divided on whether price increases at the key January 1st renewals will be strong enough to properly account for increasing loss trends in the property catastrophe space, although Fitch Ratings expects reinsurers to maintain their strong profitability in this line of business. The global rating agency has ... Read the full article
Ledger Investing funds and launches new $100m casualty sidecar
24th September 2024
Ledger Investing, an insurtech and insurance-linked securities (ILS) focused venture-backed company, has successfully funded and launched a new casualty sidecar facility, designed to provide up to $100 million of capital to finance the casualty reinsurance business of a global reinsurance firm over three underwriting years, and on a quota share ... Read the full article
US casualty the elephant in the room: S&P
8th September 2024
Although S&P Global Ratings had many positive things to say about the reinsurance sector at its recent briefing in Monte Carlo, Senior Director Taoufik Gharib urged the market not to forget about the major risk posed by the US casualty space. "US casualty is the elephant in the room," Gharib said ... Read the full article
US casualty challenging at April 1, reinsurers exerting pressure: Klisura, Guy Carpenter
19th April 2024
Speaking during the Marsh McLennan Q1 2024 earnings call, Dean Klisura, CEO of reinsurance broker Guy Carpenter, explained that US casualty was challenging at the April 1st, 2024, renewals, with reinsurers "exerting pressure on pricing and terms and conditions." Klisura highlights that the difficulties experienced in the US casualty market were ... Read the full article
Casualty reinsurance renewals show modest adjustments despite rising risks: AM Best
19th February 2024
In the recent January 1, 2024, renewal season, casualty reinsurance markets experienced relatively stable conditions despite escalating risks in the industry, according to a report by AM Best. While concerns over social inflation, litigation funding, and emerging liabilities like nanoplastics and PFAS loomed large, reinsurers maintained a steady course, supported by ... Read the full article
Howden reports adequate capacity and discipline at casualty reinsurance renewals
3rd January 2024
In the lead up to the 1.1 2024 casualty reinsurance renewals, numerous reinsurers called for wholesale action to tackle economic and social inflation, but according to broker Howden, "outcomes ultimately reflected more discerning underwriting informed by loss experience, underlying rate change and prior-year development across individual portfolios." Throughout much of 2023, ... Read the full article
KBW anticipates casualty reinsurance conditions to “broadly improve” in 2024
22nd December 2023
Analysts at KBW anticipate casualty reinsurance conditions will "broadly improve" in 2024 as fears over domestic social inflation sustain primary rate increases, which "should drive down ceding commissions". "Core commercial lines’ reserve development (excluding personal auto liability, homeowners, and surprisingly persistent workers' compensation reserve releases) for accident years 2014-2019 has been ... Read the full article
PFAS posing a number of challenges for casualty re/insurers: KBW
27th October 2023
A growing concern for some re/insurers is the rise in PFAS chemicals, with water supply cleanup costs potentially set to exceed the $400 billion figure, which suggests that it could become the industry's "next asbestos" according to AI insurance tech firm, Praedicat's CEO and co-founder, Robert Reville. This stems from a ... Read the full article
Chaucer’s Zak Mallen joins Aon as MD, Head of Strategic Growth, Casualty Re in Bermuda
11th October 2023
Chaucer's Zak Mallen has joined global re/insurance broker Aon, as Managing Director and the Head of Strategic Growth, Casualty Reinsurance, in Bermuda. He joins Aon following a decade of service at Chaucer, where he most recently served as a US casualty reinsurance underwriter. He first joined the firm in June 2013, taking ... Read the full article
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
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