Some seasoned insurance underwriters are now relying too much on risk models, leading to widespread complacency when it comes to preparing for the next big cat event, Chris Donelan, president and CEO of Endurance Re US, told PCI Today.
Reform in both the public and private sectors will continue to be a huge challenge as leaders attempt to position their organisations to be more responsive, efficient and better prepared for a transformational future.
Pressure in the specialty market, as a result of increased competition, is a game of limits rather than a price war, Bryon Ehrhart, CEO of Aon Benfield Americas, told PCI Today.
Adopting a long-term strategy able to adjust to a rapidly changing reinsurance landscape should be top of the agenda for reinsurers—but there are players that refuse to evolve.
Dutch insurer ANV has boosted its political risk and violence expertise with the addition of Julian Barker as a new underwriter within its ANV Syndicate 1861.
Guy Carpenter has launched a US healthcare & life specialty practice which will focus exclusively on the unique needs of health providers and insurers in this evolving segment.
Willis Capital Markets & Advisory (WCMA) has established Resilience Re, a cat bond platform aimed at simplifying client access to cat bond capacity.
Specialist insurer Markel International has appointed Pushpa Sriwignarajah as senior underwriter in its professional and financial risks division, to further develop its emerging risk business.
Bermudian reinsurer PartnerRe has posted a drop in profits for the third quarter of 2014, but its chief executive officer remains confident the company can create shareholder value long term.
Montpelier Re’s profits fell in the third quarter of 2014 while its gross written premiums increased despite what its chief executive described as competitive market conditions.