Reinsurance News
Casualty reinsurance
AmTrust E&S launches Excess Casualty division in LA
24th September 2019
A subsidiary of AmTrust Financial Services, AmTrust E&S Insurance Services, has announced the launch of its Excess Casualty underwriting unit, based in Los Angeles (LA). The new division will expand the firm's product offerings of E&S and will write excess liability, both supported and unsupported in all 50 states, with limits ... Read the full article
Re/insurers reacting as “cracks” appear in casualty market: Peel Hunt
19th September 2019
Analysts at Peel Hunt have suggested that re/insurers are increasingly pushing for rate increases and management actions as “cracks” begin to appear in the casualty market. A new report by the firm noted that casualty claims trends have continued to deteriorate, triggering ongoing rate increases across US professional lines, a core ... Read the full article
Casualty market disconnected from previous cyclical change: Newman, Willis Re
13th September 2019
In casualty lines of business the reinsurance tail is no longer wagging the primary dog, as the market has disconnected from previous cycle changes, according to Andrew Newman, President of Willis Re. In an interview with Reinsurance News, Newman discussed current dynamics within the casualty reinsurance market and underlined primary insurers’ ... Read the full article
Clyde & Co adds Estelle Machell to casualty insurance team
13th September 2019
Global law firm Clyde & Co has announced the appointment of Estelle Machell as a partner in its casualty insurance team. Machell most recently worked at Keoghs, but previously spent nine years at Clyde & Co before leaving in 2013. She specialises in large loss catastrophic injury and major bodily cases, and ... Read the full article
Hudson Insurance recruits head of wholesale casualty unit from Navigators
10th September 2019
Hudson Insurance Group has appointed of Joseph Savarese to lead its wholesale casualty business unit, encompassing both primary general liability and excess liability. Savarese most recently served as president of the primary casualty department at Navigators Specialty Insurance Company. He has decades of experience in the industry, with previous roles covering primary ... Read the full article
Everest Insurance bolsters Excess Casualty team
15th August 2019
Everest Insurance has bolstered its Excess Casualty team with the appointments of Rey Haliti as a Director and Auberson Eustache as a Manager. Haliti spent over 5 years at Chubb as an Assistant Vice President, Excess Casualty. He previously worked at AIG as a Senior Underwriter and began his career as a ... Read the full article
Argo warns of $32.5m casualty reserve impact & accident year losses
26th July 2019
Global specialty re/insurer Argo Group International Holdings Ltd. has revealed an expected $32.5 million hit to its second-quarter results, largely driven by reserve increases for its casualty business, as well as some current accident year losses as well. Argo warned that its second quarter of 2019 results will be impacted by ... Read the full article
Praedicat recruits Grant Dewar as VP for Global Industrials
24th July 2019
Praedicat, a risk analytics company for casualty insurers and global industrial firms, has announced the appointment of Grant Dewar as Vice President (VP), Global Industrials. Grant’s previous roles include four years as Chief Operating Officer (COO) for the EMEA Insurance Group at FIS, where he was responsible for driving growth in ... Read the full article
Sompo International to utilise casualty analytics platform from AIR Worldwide
19th June 2019
Bermuda-based property and casualty re/insurer Sompo International has begun using Arium, the casualty analytics platform from AIR Worldwide, to better understand and quantify its liability and loss potential across multiple commercial liability lines. As part of the collaboration, AIR is also offering portfolio data coding services to Sompo International that include ... Read the full article
Loss creep on casualty lines hardening rates across all sectors: AmWINS
30th May 2019
The continued deterioration of loss development on casualty lines has driven market hardening to a greater degree than was originally projected, according to analysts at specialty insurer AmWINS. The group’s State of the Market report for Q2 2019 noted that firming has spread out from segments such as New York construction, ... Read the full article
AXA XL promotes Marc Bertha to lead U.S East Region Multinational Casualty team
20th May 2019
AXA XL has promoted Marc Bertha as team lead for the U.S Eastern Region Multinational Casualty group, based in New York. He will be tasked with leading the region’s underwriting team as they partner with new and existing clients in the management of complex international risks. Bertha joined AXA XL in 2013 ... Read the full article
Casualty erosion prompts A.M. Best to downgrade Allied World rating
18th February 2019
The Long-Term Issuer Credit Ratings (Long Term ICR) of Allied World Assurance Company and its affiliates has been been downgraded by AM Best from a+ to a, while its Financial Strength Rating (FSR) of A (Excellent) has been affirmed. The ratings agency has also downgraded the Long-Term ICR of Allied World’s ... Read the full article
Moderate casualty reinsurance rate increases expected in 2019: AmWINS
30th January 2019
After several years of declines, casualty reinsurance premiums bucked the recent trend in 2018, and going into 2019, continued, modest increases are expected in primary casualty reinsurance, according to AmWINS. According to the global specialty insurance provider, rate increases in casualty reinsurance are being driven by a number of factors. This ... Read the full article
Liberty Mutual Re adds international casualty underwriter to Paris office
17th January 2019
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Vincent Gilardi as Senior Underwriter for International Casualty, effective immediately. Based in the company's Paris office, Gilardi reports to the reinsurer's Head of Europe and MENA, Eric Sugier. He joins the firm from XL Catlin, where he served as ... Read the full article
Pricing broadly stable across U.S casualty renewals, finds Willis Re
3rd January 2019
The latest 1st View report from Willis Re has found that U.S casualty reinsurance pricing trends were mixed at the 1 January 2019 renewals, with pockets of rate increases and decreases across a broadly stable market. The findings came as part of the broker's wider market analysis, which found that Read the full article