Reinsurance News
Conduit Re
The industry has experienced a rough ride, but it’s a great place for us to be: Conduit’s Carvey
1st February 2023
The re/insurance industry has witnessed a “structural shift” in the marketplace throughout the 1/1 renewals, says Trevor Carvey, Chief Executive Officer, Conduit Re. During Conduit’s 1/1 renewals trading update conference call, Carvey stated that the rise in inflation that has been emerging through has been recognised by both the client base ... Read the full article
Conduit Re grows premiums 60% at 1/1, expects more rate momentum
25th January 2023
Bermuda-headquartered property and casualty reinsurance group Conduit Holdings, owner of Conduit Re, has reported continued expansion at the recent January renewals, adding 60% in premiums and now looking forward to more rate momentum through 2023. The reinsurer said this growth has been secured through a combination of new business and renewals, ... Read the full article
Conduit Re appoints Peter Kiernan as head of property
29th November 2022
Conduit Re has appointed Peter Kiernan as its new head of property. The firm said that Kiernan, currently Head of US Property with AXA XL Reinsurance in Bermuda, will take up his role at the beginning of December, subject to regulatory and work permit approvals. The firm added that Kiernan’s appointment at ... Read the full article
Conduit Re reports strong premium income growth in Q3
9th November 2022
Conduit Re says its Q3 2022 results show strong premium income growth, with balance sheet strength and underwriting focus putting it in ‘an excellent position’ in ‘exceptional’ market conditions. The firm said in a statement that it had seen $600.9m of estimated ultimate gross premiums written for the nine months ended ... Read the full article
Conduit Re’s underwriting improves but Ukraine & investment losses dent result
27th July 2022
Bermuda-based Conduit Re has reported a rise in underwriting profit to $6.2 million for the first half of 2022, although the carrier has fallen to a comprehensive loss for the period after the impact of losses related to the war in Ukraine and net unrealised losses on investments. Across the business, ... Read the full article
Andrew Smith to serve as Conduit Re’s Chief Risk and Sustainability Officer
17th May 2022
Andrew Smith, Chief Risk Officer (CRO) at reinsurer Conduit Re, has seen his role expand to lead the firm's climate change related initiatives, as Chief Risk and Sustainability Officer. In his expanded position, Smith will support Executive Chairman, Neil Eckert, and will report to and join the independently chaired ESG Committee. Smith ... Read the full article
Conduit reports rise in Q1 premiums, sees Ukraine loss of up to $30m
11th May 2022
Property and casualty reinsurer Conduit Re has reported a rise in ultimate premiums written (UPW) for the first-quarter of 2022 to $296.9 million, as the firm announces estimated losses from Russia's invasion of Ukraine of between $15 million and $30 million. Conduit Re's ultimate premiums written increased, year-on-year, by 49.1% from ... Read the full article
Conduit Re “perfectly placed” to take advantage of 2021/22 hard market: Eckert
5th April 2022
Chairman of property and casualty reinsurer, Conduit Re, Neil Eckert, has said that because of the propitious timing of the company’s launch, and the exceptional hard work of the team in building out ability to deliver on plans, Conduit Re is “perfectly placed” to take advantage of the current conditions ... Read the full article
Nat cats drive Conduit to $42m loss in first year of operations
24th February 2022
Class of 2021 reinsurance start-up, Conduit Re, has reported a comprehensive loss of $42 million for its first year of operations, after incurring heavy catastrophe losses. The company’s natural catastrophe bill for the year was $53.8 million, which resulted in an overall underwriting loss of $7.0 million. Catastrophes also contributed 27.7% to ... Read the full article
Conduit promotes Greg Roberts to Group CUO
15th February 2022
Class of 2021 reinsurance start-up, Conduit Re, has promoted Greg Roberts to the role of Group Chief Underwriting Officer (CUO), taking over from Trevor Carvey, the reinsurer's Group Chief Executive Officer (CEO) and current Group CUO. Roberts' appointment is effective March 1st, 2022, when he will also join the company's Executive ... Read the full article
Berenberg positive on London market in 2022
25th January 2022
Berenberg says that it remains positive about the London market, despite an elevated risk environment. Citing the risk factors of property reinsurance from climate change and claims inflation, casualty arising from ongoing social inflation, and cyber due to the increase in ransomware attacks, the bank said it remained positive despite investor ... Read the full article
Better than expected 1/1 conditions leave Conduit Re’s Eckert bullish on outlook
21st January 2022
For Class of 2021 reinsurance start-up, Conduit Re, market conditions at the January 1st, 2022, renewals were ahead of expectations, leading the company's Chairman, Neil Eckert, to be optimistic for the months ahead. Earlier this week, $1.1 billion start-up reinsurer Conduit Re reported its January 2022 trading statement, which showed ... Read the full article
Attractive market conditions benefit Conduit Re at renewals: Eckert
19th January 2022
Conduit Re, a Class of 2021 reinsurance start-up that raised close to $1.1 billion of capital, has underwritten around 70% more business at the January 2022 renewals than it did a year earlier, with Chairman Neil Eckert citing "some of the most attractive market conditions seen in a generation." At the ... Read the full article
Conduit Re sees GWP hit $291mn in opening nine months of 2021
3rd November 2021
Recently launched property and casualty reinsurer Conduit Re has announced gross written premiums of $291.2 million for the first nine months of 2021, with the property segment making up 55.9% of that figure. This result marks considerable progress from the $82.6 million GWP announced during this year’s first quarter. Meanwhile, estimated ... Read the full article
Conduit adds Michelle Seymour Smith as non-exec director
30th September 2021
Bermuda-based reinsurer Conduit Re has announced the appointment of Michelle Seymour Smith as a non-executive director with immediate effect. Seymour Smith most recently served as the Chief Transformation Officer of Arch Capital Group, prior to which she was the Chief Financial Officer and Chief Operating Officer of Arch Reinsurance. At Arch, she ... Read the full article
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