News
Insurance
Specialist Lloyd’s re/insurer Beazley will be seeking 10 percent rate increases across the board in this renewals season as it looks to offset higher retrocessional costs while re-pricing perils responsible for larger than expected losses in recent years. It also expects to shed 10 percent of its business. 9 September 2019
Insurance
Despite many re/insurers posting positive Q2 results and optimism around rising rates, downside risks—including the spectre of a global recession, the rise of nationalism and protectionism, trade wars and Brexit—are casting a shadow on the market, Ivor Edwards, European head of the corporate insurance group, Clyde & Co, told Monte Carlo Today. 9 September 2019
Insurance
On the back of two record-breaking US wildfire seasons, the re/insurance industry is reassessing how it deals with wildfire risk, Michael Young of RMS told Monte Carlo Today. 9 September 2019
Insurance
Rates are increasing, but perhaps not fast enough, was one of the main themes of a discussion by a panel of industry experts speaking at S&P Global Ratings’ Annual Reinsurance Roundtable at this year’s Monte Carlo Rendez-Vous. 9 September 2019
Insurance
PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has marked its 10th anniversary by highlighting its intention to expand globally. 9 September 2019
News
AXIS Capital is ready to take the next step towards becoming one of the world’s biggest and most profitable re/insurance companies, according to Albert Benchimol, its president and chief executive officer, who warned competitors: “Now is our time.” 9 September 2019
Insurance
Convex, Stephen Catlin’s new venture has now recruited 90 people including 20 product leaders and is opportunistically writing business—but it plans to really hit the ground running from the start of 2020, Catlin told Monte Carlo Today. 9 September 2019
Insurance
A lack of risk models covering some key perils in large parts of Europe is holding back the development of the insurance-linked securities (ILS) market in the continent, Marco Sordoni, head of reinsurance buying for Italian insurer UnipolSai Assicurazioni, told Monte Carlo Today. 9 September 2019
Insurance
After some recent challenges, the ILS market remains strong with exciting growth prospects. Cyber and further social development transactions are on the agenda, as Paul Schultz of Aon Securities told Monte Carlo Today. 9 September 2019
Insurance
Dan Malloy, chief executive of Third Point Re, is upbeat about the progress the company has made as it looks to realign its portfolio. Over the past two years it has expanded its underwriting team in line with plans to write a more diverse portfolio targeting lines of business with higher margins. 9 September 2019
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