Reinsurance News

Casualty reinsurance

IVANS Index September renewals update mixed: KBW

18th October 2018

The IVANS Index - which tracks commercial premium renewal rates - rose sequentially in September for Commercial Auto and Umbrella, and declined sequentially for Business Owner Policy, General Liability, Commercial Property, and Workers Compensation, according to analysts at Keefe, Bruyette & Woods. KBW expects commercial casualty rate increases to mostly gain ... Read the full article

Named peril casualty cover is $90bn per year opportunity, says Praedicat CEO

17th October 2018

Robert Reville, Chief Executive Officer (CEO) of Praedicat, an InsurTech risk modelling and analytics firm, has claimed that developing named peril casualty cover is currently the biggest opportunity in re/insurance, representing a potential $90 billion annual growth opportunity. Praedicat analyses scientific literature to model more than 60,000 potential disease litigation scenarios, ... Read the full article

JLT FAC names Joe Ameruoso as Head of North America Construction Casualty

15th October 2018

JLT FAC, the facultative reinsurance division of broker JLT Re (North America) Inc., has announced the appointment of Joe Ameruoso as Head of North America Construction Casualty, Facultative. Ameruoso will be based in JLT FAC’s New York Office, and joins the company from Starr Indemnity & Liability Co in Primary Construction, ... Read the full article

Sompo International forms new Casualty Facultative Reinsurance team

10th October 2018

Bermudian property and casualty re/insurer Sompo International has announced the launch of a new Casualty Facultative Reinsurance operation, to be led by Dave Adams, who has been appointed as Executive Vice President, Specialty/Facultative Reinsurance Team Leader. Adams will join Sompo International Reinsurance this week alongside an underwriting team of seven specialists ... Read the full article

AXA XL announces two senior promotions within Excess Casualty business

26th September 2018

AXA XL has announced two senior promotions within its Excess Casualty Insurance business, appointing Vivienne Moniz and Elaine Scully Head of Excess Casualty, Bermuda and Head of Excess Casualty, Dublin, respectively. Moniz brings over 15 years’ experience to the role and will report to XL Bermuda Chief Executive Officer of Insurance, Patrick ... Read the full article

Further cat losses may impact casualty and specialty lines: JLT Re’s Harrison

11th September 2018

While property catastrophe lines of reinsurance would likely prove resilient to a second consecutive year of heavy catastrophe losses, casualty and specialty lines might feel the impact more severely, according to Keith Harrison, Chief Executive Officer (CEO) for UK & Europe at JLT Re. Both traditional reinsurers and alternative capital markets ... Read the full article

JLT Re warns of inflection point as re/insurers accelerate reserve releases

3rd September 2018

JLT Re, the reinsurance broking arm of global brokerage JLT Group, has described the recent reserving practices of some insurers and reinsurers as somewhat aggressive, noting that some companies are accelerating their releases in certain business lines. While much of the marketplace focuses on the property catastrophe losses of 2017 as ... Read the full article

StarStone establishes new casualty consortium for Australian market

13th August 2018

International specialty insurance firm StarStone has launched a new casualty consortium targeted at the Australian and New Zealand markets, led by StarStone's Casualty Underwriter, Mark Hunt. StarStone Underwriting Australia Pty Limited, StarStone’s Lloyd’s coverholder in Australia, has already begun underwriting this facility on behalf of a consortium of Lloyd’s syndicates. The company ... Read the full article

Barbican Protect adds new development underwriters to casualty team

2nd August 2018

Barbican Protect, the UK insurance arm of Barbican Insurance Group, has appointed Keith Irwin and Deanne Rogers as development underwriters within the firm’s casualty team. Irwin, who joins Barbican from Beazley, will be tasked with developing a new specialty casualty portfolio that focuses on the rail and automotive sectors. He is based ... Read the full article

Ethos appoints Kevin Mooney as SVP and Head of SME, Casualty

18th July 2018

New York-based MGA Ethos Specialty Insurance Services, part of Ascot Group, has announced the appointment of Kevin Mooney as Senior Vice President (SVP) and Head of Small Medium Enterprise (SME), Casualty. Mooney will be reporting to Rory Cline, Ethos’ Chief Underwriting Officer, and will focus on developing excess casualty products for ... Read the full article

U.S. P&C insurers return to underwriting gains in 2018: ISO, PCI

13th July 2018

After suffering underwriting losses for seven quarters in a row, private U.S. property and casualty (P&C) insurers recorded net underwriting income of $4.2 billion in the first-quarter of 2018, according to analysis by ISO, a Verisk business, and the Read the full article

XL Catlin appoints leaders for U.S Multinational Casualty Insurance

12th July 2018

XL Catlin has appointed Stefan Homberger as Head of Multinational Casualty Insurance in the U.S and promoted Arielle Moody to team lead for its U.S Eastern Region Multinational Casualty group. Homberger has worked at XL Catlin for 20 years, having most recently served as Underwriting Manager for Multinational Casualty Programs. Commenting on ... Read the full article

2017 losses unmasked broader reinsurance price inadequacy: KBW

20th June 2018

The major hurricane and catastrophe losses of 2017 while not sufficient to significantly boost property catastrophe reinsurance rates, have unmasked the inadequacy of pricing more broadly across the sector, according to analysts. Reinsurance pricing did respond to the losses of 2017, but increases seen at the key January reinsurance renewals ... Read the full article

XL Catlin bolsters Global Excess Casualty Insurance team with two key appointments

5th June 2018

XL Catlin has further strengthened its Global Excess Casualty Insurance team following the dual appointments of Donnacha Smyth as President, Global Excess Casualty Insurance and Carla Greaves as Chief Underwriting Officer (CUO), Global Excess Casualty. Smyth, who has served a number of positions with the firm since 2007, is set to ... Read the full article

Strong U.S. casualty market growth driven by quota shares: Munich Re’s Steve Levy

1st June 2018

The U.S casualty reinsurance market has experienced strong growth over the last few years, which has largely been driven by quota share business, according to Steve Levy, President and Chief Executive Officer (CEO) of Munich Re U.S’s Reinsurance Division. Levy explained that U.S casualty insurers are increasingly relying on reinsurance to ... Read the full article

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