Zurich Insurance Group’s re-underwriting program is starting to bear fruit – as evidenced by the company’s improved third-quarter results – but Group CFO George Quinn readily admits there is still work to be done. The steps that the company took …
The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the London market, both A.M. …
The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are immense. These are just some of the negative …
Re/insurers have released redundant liability reserves into their earnings for the past eight years as a result of favorable loss development. This practice has worked well to compensate for low investment yields and soft market prices. But have carriers gone …
It may be wishful thinking – but some major reinsurers are hoping the bottom of the reinsurance cycle is at hand. Both Swiss Re and Hannover Re told journalists at this year’s reinsurance Rendez-Vous de Septembre in Monaco that they …
The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the London market, both A.M. …
Newly formed Watford Specialty Insurance Co. (WSIC), a subsidiary of Bermuda-based Watford Re, took a big leap forward recently with its acquisition of a carrier with admitted licenses in all 50 states and the District of Columbia. The previously dormant …
Companies originally created the role of the chief risk officer because they “recognized that good risk management is really good business,” according to Michael Steel, former CRO at AXIS Capital. The role of CRO is a relatively new one for …
It was a case of adapt and thrive when modeling and analytics company Sciemus made a big strategic leap this year into underwriting space, power, mining, renewable energy and cyber—as a managing general agent. Despite the ongoing soft market, CEO …
Despite proclamations by some observers that the reinsurance cycle is dead, JLT Re says, reports of its demise are greatly exaggerated – and now is the time for buyers to use the cycle, and reinsurance, to their advantage. Rates are …
