For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a new report released yesterday. While the reinsurance market remained stable on the casualty side, …
Markel Corp. said it is creating one center for all of its global property catastrophe (CAT) reinsurance business by closing its Markel Global Reinsurance property CAT unit and having Nephila become Markel’s single point of entry for serving the 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 …
RenaissanceRe Holdings Ltd. and Dutch pension fund manager PGGM announced they have launched Vermeer Reinsurance Ltd. to provide capacity focused on risk remote layers in the U.S. property catastrophe market. PGGM is a Dutch pension fund service provider with €215 …
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 …
Bermuda-based Mt. Logan Re Ltd. announced the appointment of Martin Burke as its chief financial officer, effective Feb. 22, 2016. Burke has 15 years of experience in senior finance roles in the reinsurance industry and was most recently with Sirius …
A.M. Best has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Bermuda-based PaCRe, Ltd., and has removed the ratings from under review with negative implications and assigned a negative outlook. Best said …
Aon Benfield’s Reinsurance Market Analysis describes the participants as having “reached the end of a 15 year journey, featuring chronological stages of alternative capital’s significance, completion and finally disruption.” From the interviews with two reinsurance industry executives that seems to …
The roller coaster ride engendered by the entry of large amounts of alternative capital into the reinsurance market – originally seen as a threat – has turned out to be a major factor in strengthening the capital available to reinsurers …
As the former head of A.M. Best in London, and a senior executive with Standard & Poor’s, Litmus Analysis Senior Partner Stuart Shipperlee has a very complete knowledge of what re/insurance company ratings are, and, perhaps more importantly, what they …
