Reinsurance News
Casualty reinsurance
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
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
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