Munich Re
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The executive joins Munich Re from Amwins Global Risks. -
Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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Munich Re’s capacity is backing insurance programs for municipalities, fire and emergency services as well as water facilities.
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The executive was formerly AIG’s head of casualty claims.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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He replaces Joe Bonanno following a realignment of the E&S property leadership.
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Current CEO John Mulvihill is retiring after 34 years with the specialty insurer.
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Munich Re Specialty Insurance (MRSI) has promoted Jeffrey Marks to COO, effective immediately.
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The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
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In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
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Hohman succeeds Elizabeth Kramer following her recent appointment as president of E&S Lines. He will also become a member of the MRSI executive leadership team.
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AM Best said market hardening was likely to continue through 2024, given global market conditions.
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