Reinsurance News
Casualty reinsurance
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
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
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