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American International Group (AIG) has appointed former Connecticut insurance commissioner Thomas Leonardi as executive vice president, government affairs, public policy and communications. 25 October 2017
Insurance
Profits at WR Berkley dipped in the third quarter mainly because of catastrophe losses totalling $119 million including $107 million related to Hurricanes Harvey, Irma and Maria, and the earthquakes in Mexico. But the company remained profitable and said it was pleased with its results. 25 October 2017
Insurance
Specialty re/insurer Brit has appointed Courtney Mocio as vice president, cyber and technology at its US unit, Brit Global Specialty USA (BGSU). 25 October 2017
Insurance
Despite significant expected losses in the third quarter from hurricanes Irma, Harvey and Maria and potential rate increases as a result, Lloyd’s is not planning to change the market’s overall exposure to natural catastrophes, Jon Hancock, Lloyd’s performance management director, told Baden-Baden Today. 25 October 2017
Insurance
This year’s Baden-Baden Reinsurance Symposium is more dynamic and busier than the last four as a result of the heavy nat cat losses experienced in the US in the third quarter, David Flandro, global head of analytics for JLT Re, told Baden Baden Today. 25 October 2017
Insurance
In the wake of what may be record levels of catastrophe losses in North America, demand for quota shares is on the rise, Jorg Bruniecki, head of global clients & broker management at PartnerRe, told Baden-Baden Today. 25 October 2017
Insurance
Bermuda-based Qatar Re is set to seize the moment to increase its exposure to the US as rates there recover following the nat cat losses in the third quarter, Luke Roden, chief underwriting officer, short tail classes and head of ceded re, told Baden-Baden Today. 25 October 2017
Insurance
In the wake of recent US nat cat losses, the perceived value of insurance-linked securities (ILS) collateral over a rated “promise to pay” model will rise if reinsurers have failed to use modelling and retrocession to better manage their tail risks, according to Willis Towers Watson’s Q3 ILS market update. 25 October 2017
Insurance
The continued soft market is the biggest concern during this renewals season, according to respondents to Intelligent Insurer’s Baden-Baden 2017 survey, a response that shows that despite the heavy losses in the US in recent months, negotiations in Europe may not involve rate increases to the extent some would like. 25 October 2017
Insurance
Notwithstanding the nat cat events of 2017, the Caribbean Catastrophe Risk Insurance Facility (CCRIF) is confident that its balance sheet is adequately set up to absorb the risk of high payouts in years of multiple extreme events, Isaac Anthony, CEO of CCRIF, told Baden-Baden Today. 25 October 2017
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