News
Insurance
Lloyd’s of London will close its building on the day of Queen Elizabeth II’s funeral, Monday September 19, as a mark of respect, the market has confirmed. For the same reason, chairman Bruce Carnegie-Brown and chief executive John Neal are not in attendance at the Monte Carlo Rendez-Vous this year. 11 September 2022
Insurance
The idea that challenges such as climate change can be tackled by simply increasing rates is a misconception—as is the market’s obsession with describing a hard market. Instead, the focus should be on the nature of coverage and helping clients better manage risk. 11 September 2022
Insurance
The insurance industry is headed for a “true hard market” where demand for property cover may not be fully satisfied because of reduced capacity, Manuel Arrive, a director in Fitch Ratings’ insurance group said at a Reinsurance Briefing in Monte Carlo on September 10. 11 September 2022
Insurance
Reinsurance broker TigerRisk Partners has formed what it is calling a cat capacity SWAT team, dedicated to identifying new sources of property-catastrophe capacity, as a potential capacity crunch looms for cedants ahead of next year’s cat renewals, many of which are themselves seeking more coverage as property exposures soar. 11 September 2022
Insurance
As cedants grapple with a hardening rate environment, UnipolRe is setting itself apart: it is not seeking growth, just deeper relationships with cedants and some diversification—made possible by its unique ownership structure and agile approach. 11 September 2022
Insurance
The world is changing rapidly in ways that seemed unimaginable less than a decade ago. How can re/insurers assess risk and deploy resources in such a frenetic environment? Swiss Re group CUO Thierry Léger explains how. 11 September 2022
Insurance
A $30 billion increase in loss costs last year must drive the market to support sustained price increases, Jill Beggs, Everest Re’s head of North America Reinsurance, told Monte Carlo Today. 11 September 2022
Insurance
Natural catastrophes and volatile markets weigh heavily on the H1 results of Munich Re, Swiss Re, Hannover Re, SCOR, according to a report on the four largest European reinsurers published by Moody’s Investors Service on August 25. 10 September 2022
Insurance
The insurance industry has had an issue with attracting younger people for some time—and that could now hurt the industry amid a so-called “great resignation”. Perhaps ironically, soaring inflation may help the industry with talent acquisition and retention, but that may take some time to manifest. 10 September 2022
Insurance
This year marks a ‘fundamental change’ in the market as inflation and hard market conditions kick in, says chairman of VIG Re, Johannes Martin Hartmann. 10 September 2022
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