Treaty Reinsurance
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The Texas Big Freeze plus an active hurricane season could see losses balloon in 2021.
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Axis Re, the reinsurance arm of Axis Capital, has announced the appointment of Matt LoPiccolo to a strategic account executive role with a remit to drive broker engagement.
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The facility is the second in South America for the firm, which established a local presence in Argentina in 2016.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The Floridian carrier said reinsurance spending was up by 5%.
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Aon and Willis have been in talks with Gallagher over a sale of assets the broking houses must make to gain approval of their pending merger from antitrust regulators.
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The Bermudian booked a $4.6mn loss from Winter Storm Uri.
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Underlying margins at all three of Alleghany’s insurance business improved, but $80mn in catastrophe losses led underwriting profits at RSUI to fall.
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The Tremor CEO spoke to Inside P&C recently, offering an inside look at his company’s Panorama platform.
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Several (re)insurer reporters do not anticipate the rate momentum to slow down materially even as they build on exposure growth.
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A series of devastating hailstorms has struck Texas and Oklahoma in what BMS meteorologist Andrew Siffert has described as a “billion-dollar hail loss event” for insurers.
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Insurance rates in the US rose 15%, while London market pricing was up 10%
