Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, the rating agency said in a new report. As companies “finished reporting their …
Aspen Insurance Holdings Ltd. and PIMCO Investment Management Co. announced the formation of Pando Re Ltd., a Bermuda-domiciled collateralized re/insurer focused on casualty business. Under a long-term agreement, Aspen will be the sole cedent to Pando Re and PIMCO will …
Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a relatively stable economic environment in 2023, a long run of …
Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers in their renewal reports. “Some reinsurers adopted a tougher stance ahead of the January 2024 …
Casualty is proving its value as a good diversifier for reinsurers, especially given the positive primary rate movement seen in recent years, according to an Aon report. The combination of challenged property experience, robust primary casualty rate levels and thoughtful …
Claims inflation for the commercial liability business will increase through 2020, although it was accelerating even before the coronavirus pandemic hit. This trend, known as social inflation, has led the insurance industry to reduce capacity and increase prices to try …
BMS Group, the independent specialist re/insurance broker, announced the appointment of Jonah Pfeffer as chief casualty officer at BMS Re U.S., effective immediately. He will report to Pete Chandler, president and CEO at BMS Re U.S., and focus on the …
Willis Re, the reinsurance broking business of Willis Towers Watson, announced the appointment of Cameron Green as head of its International Casualty Reinsurance practice as well as chair of Willis Re Australia. In this new role as the leader of …
AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd., announced the hiring of Joe Sweeting as head of Lloyd’s Casualty Reinsurance. In this role, Sweeting will be responsible for managing all aspects of AXIS Re’s casualty business at …
