Reinsurance News
Conduit
Conduit set to surpass income forecasts due to investment portfolio valuation gains
29th January 2024
Conduit Holdings Limited (CHL), the parent company of Conduit Re, anticipates its comprehensive income for the year to be greater than current consensus forecasts, driven by a more positive valuation of investments. According to the firm, in the second half of 2023, the overall reduction in interest rates led to substantial ... Read the full article
Conduit Re reports gross premiums written grows by 50.3% for 9M’23
8th November 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported a 50.3% increase in gross premiums written for the nine months ended 30 September 2023 of $764.4 million. The overall portfolio risk-adjusted rate change for 9M'23, net of claims inflation, is 15%. The investment return for the first nine ... Read the full article
Non-cat space really attractive for Conduit Re: CEO Carvey
12th September 2023
Bermuda-based reinsurer Conduit Re has deployed more capital into non-cat classes of business and continues to explore opportunities in increasingly attractive areas, Chief Executive Officer (CEO) Trevor Carvey told Reinsurance News in Monte Carlo. As the reinsurance industry meets in Monaco for the 2023 edition of the annual Rendez-Vous De Septembre, ... Read the full article
Conduit Re reports 83.1% combined ratio for H1, gross premiums written grows by 52.9%
26th July 2023
CHL, the parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, reported an 83.1% combined ratio for the six months ended 30 June 2023, a 22.7-point improvement from a year-ago period, as it expanded gross premiums written by 52.9% into the current insurance hard market. Gross premiums written for H1 ... Read the full article
Conduit Holdings hires Rebecca Shelley as a Non-Exec Director
25th July 2023
Conduit Holdings Limited, the parent company of Conduit Re, has appointed Rebecca Shelley as a non-executive director with effect from 24 July 2023. In her new role, Shelley brings a vast degree of commercial and financial services experience to the Board, as well as an extensive background in ... Read the full article
Capital inflows may not be enough to pressure reinsurance prices: Conduit Re
22nd March 2023
Speaking at a conference hosted by investment bank Berenberg, Conduit Re's chairman, Neil Eckert, suggested that despite expecting new capital to be drawn in following the repricing of risk, the inflow may not be large enough to put significant pressure on pricing. According to Berenberg's analysts, Conduit is "upbeat" on the ... Read the full article
Conduit Re names Mario Binetti as Head of Casualty
7th March 2023
Bermuda-based pure-play reinsurance company, Conduit Re, has hired Mario Binetti from reinsurance broker BMS Re to the new role of Head of Casualty. Binetti currently serves as Head of Casualty Treaty and Actuarial at BMS Re, having previously held senior underwriting roles at various reinsurers, including JRG Re, QBE Re, XL ... Read the full article
Strong conditions to persist for at least medium-term: Conduit Re CUO
23rd February 2023
Greg Roberts, Chief Underwriting Officer (CUO) Conduit Re, says he expects strong reinsurance market conditions to persist for “the medium-term, if not longer”, as companies continue to contend with economic challenges and growing catastrophe losses. Bermuda-based reinsurer Conduit Re reported a comprehensive loss of $89.7 million for 2022, as an ... Read the full article
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’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 hires Moretti as Head of Investor Relations & Marketing
12th April 2022
Property and casualty reinsurance group Conduit Holdings, owner of Conduit Re, has announced the appointment of Antonio Moretti as Head of Investor Relations & Marketing, with immediate effect. Moretti brings more than 20 years of experience from working within the reinsurance industry, which he gained from serving at major company’s such ... 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
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