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The loss portfolio transfer deal was completed in March of this year, covering £200mn of UK motor insurance claims. -
Chubb earnings reveal strategic expansion in Asia and pricing outpacing exposure.
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The new independent program manager will serve HNW and ultra-HNW markets and is expected to begin producing business in Q3 2023.
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An uptick in financial markets activity could increase demand, but there is also significant risk which currently isn’t priced into the market.
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D&O (Inside P&C Daily lead story): There is hope that public D&O rates could stabilize in the second half of the year following a tough end to 2022 and an ongoing slump in Q1. Significant discounts granted in 2022 are unlikely to be repeated, and there are ongoing concerns around both economic and social inflation, sources said. In the meantime, rates remain pressured from ample capacity and muted demand as established providers and incumbents drawn to the hard market of past years compete for relatively stagnant demand. The collapse of SVB, while a shock, wasn’t the inflection point for D&O that some might have expected.
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The WTW D&O liability 2023 survey canvassed directors and risk managers in 40 countries around the world.
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One question in the community is whether nuclear verdicts this year will spark a re-acceleration of rates, especially in the lead excess layers.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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High capacity and an ongoing faith in the financial system have mitigated against instant action from insurers.
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Taking the 15-year view, P&C insurers have stayed steadily allocated to bonds, but took on a bit more risk when interest rates were near zero.
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The Fidelis IPO has no clear precedent, but there is an appetite for investment in the specialty space, as seen earlier this year with the Skyward public listing.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
