SageSure became a “unicorn” after the U.S. property insurer raised $250 million in its latest funding round, a source familiar with the matter told Reuters. A unicorn is a startup that is valued at or above $1 billion. SageSure’s latest …
Property cat reinsurance: “More.” Professional liability insurance: Not so much. The president and chief executive officer of W.R. Berkley Corp., Robert Berkley, Jr., shared his company’s appetite for short-tail and long-tail coverages during an earnings conference call on Monday—flagging property …
Guy Carpenter & Co., the reinsurance brokerage business of Marsh & McLennan Cos., announced the appointment of Paul Miller to lead Guy Carpenter’s Property Catastrophe value proposition for UK, Global Specialties and key global clients, effective September 2021. Miller will …
The global reinsurance sector is poised for yet another full year of declining rates, ensuring that a hoped-for bottom of the current market cycle will remain elusive in 2017, Standard & Poor’s said in a new report. The continued downward …
AXIS Capital Holdings Ltd. announced the appointment of Michael Leahey as vice president and deputy head of Catastrophe Underwriting for Europe, Middle East and North Africa (MENA), and Israel, for AXIS Re. In addition to underwriting property catastrophe reinsurance business …
Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns to normal levels, according to …
Total non-life catastrophe bond market issuance for the first half of 2016 rose to $2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory (WCMA), the investment banking business of Willis Towers Watson. After starting …
While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line growth, according to a …
Reinsurance capital levels stabilized during the Jan. 1, 2016 renewals – showing no growth for the first time in several years – and prices continued to soften, according to Guy Carpenter & Co.’s global January renewal report. The scarcity of …
A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Kelvin Re Limited (Guernsey). The outlook assigned to both ratings is stable. The ratings reflect Kelvin Re’s strong capitalization, diversified projected …
