Axis Capital

Axis estimates Hurricane Ida will be a $35bn industry loss event while the European floods – from which Axis expects a $55mn bill – are projected to cost the industry $13bn.

Shuohan Dai joined as a senior underwriter and will work closely with existing teams to oversee the capital risk solutions team’s underwriting activities in the Asia Pacific region.

He will be based in Alpharetta, Georgia, and will report to Britt Smith, senior vice president for U.S. Excess Casualty.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

The drivers that led to the consolidation in the reinsurance industry might not replicate for a while.

Michael Worman joins from Westchester, while David Malcolm and Lisa Finch join from Ethos.

The carrier has restructured its cyber business with stringent underwriting conditions.

The company reported $139mn in Q2 cat losses that it said mostly came from Winter Storm Uri.

Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.

The case is the latest US suit regarding whether physical damage is required to trigger BI payouts.

The changing reinsurance market dynamics are impacting reinsurers' ability to raise rates.

Axis Miami wrote direct and facultative property, political violence, energy, aviation and cyber risks, typically on a following market basis.