Despite the growing influence of alternative sources of capacity on the traditional reinsurance markets, exerting a downward pressure on rates in some markets, this influence is less pronounced in Asia-Pacific.
Healthy levels of reinsurance capacity combined with the convergence of traditional and alternative sources of capital helped keep rates stable in the recent April 1 renewals – a significant renewal date for the Asia Pacific region.
Underwriting agency APC has launched a London market broking team to place risks for regional brokers that cannot be facilitated under its regular binding authorities.
Law firm Patton Boggs has appointed one of its reinsurance specialists as managing partner of its New York office.
CATCo Investment Management, the specialist reinsurance-linked investment business, has appointed Judith Wynne as group general counsel and company secretary.
ACE Group has appointed Mark Roberts as casualty manager for the UK and Ireland.
Everest Re Group’s insurance subsidiary, Everest Security Insurance Company, has entered into a definitive agreement with Arrowhead General Insurance Agency, a subsidiary of Brown & Brown.
ACE Group has promoted two senior staff based in its Germanic region.
Antares has revealed positive results for its syndicate 1274 for 2012, despite noting that both the most expensive ever marine loss for insurers and one of the most expensive storm events ever, happened last year.
Concerns by some that the proliferation of alternative risk transfer mechanisms such as insurance-linked securities (ILS) could hamper growth among traditional reinsurers could be misplaced – based on the findings of a recent report by Aon Benfield.