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The decision impacts 5% of the reinsurer’s North America P&C facultative premiums. -
The carrier has been exploring launching into P&C organically or via acquisition.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.
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The mood in Orlando was sunny among cedants and reinsurers alike, but there are clouds on the horizon.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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The move marks Acrisure Re’s first investment in Latin America.
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The unit’s co-heads, Braithwaite and Apostolides, left the firm in the summer.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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Expansion into adjacent markets, capital return and M&A among top means of capital deployment.
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The new unit will be led by former Emerald Bay exec George Dragonetti.
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The executive has worked for Aon for almost two decades.
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Industry stocks were firmly behind the S&P 500 in Q3.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.
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Cat losses in August were below historical trends, but we are not in the clear just yet.
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The low degree of overlap between the combining portfolios benefits both parties.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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The Inigo CEO said the lack of portfolio crossover was highly attractive to Inigo.
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Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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The business said it was experiencing strong momentum on the Island.
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The practice group will enhance the company’s existing offerings in E&S.
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The annual meeting took place in Pasadena, California, miles from the site of LA wildfires.
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The carrier’s US and Europe claims teams will report to Dominic Clayden.
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The platform aims to “bend the loss curve”.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Bill Bouvier has spent more than three years at the legacy firm in this role.
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Sources said that the carrier has held preliminary talks with private debt investors.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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Rafael Diaz, Tiara Elward and Felipe Murcia will join BMS’s LatAm and Caribbean unit.
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Rates will remain elevated in a period of structurally higher risk premia.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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P&C stocks recovered faster than the S&P 500 following a late July dip, but a gap remains.
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The executive most recently served as head of North American treaty reinsurance.
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The executive said claims can be a differentiator in a softening market.
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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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Henrietta Butcher leaves Tysers after decades with the broker.
