The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring …
The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of …
Secondary perils, exacerbated by climate change, are driving catastrophe insurance losses, warn a growing chorus of reinsurers and brokers. Indeed, broker Aon reveals that more than 60% of 2020’s insured catastrophe losses of $54 billion have been caused by secondary …
Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a broker he knows. “It isn’t a …
Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed recently. Amanda Nguyen, U.S. Casualty Solutions Leader for Reinsurance …
The top emerging litigation risk identified for the year ahead is PFAS, the so-called “forever chemicals” used in a wide variety of products such as Teflon, Scotchgard, food containers, firefighting foam and ski wax, said the co-founders of Praedicat, the …
Although there is a significant market correction taking place in the North American liability insurance market, demand for casualty reinsurance is increasing, said Chirag Shah, executive vice president, Casualty Reinsurance, at Willis Re. Low interest rates, economic volatility, social inflation …
In every crisis, lessons must be learned, but opportunities also are revealed. And so it goes with the COVID-19, which has shown the need for contract certainty in the re/insurance industry, while at the same time providing an impetus toward …
The tailwinds propelling the global reinsurance sector are sufficient impetus for the ratings agency AM Best to retain its stable outlook for the reinsurance industry, despite multiple challenges. During a virtual press briefing on Sunday, the ratings agency described the …
Fitch Ratings said yesterday its ratings outlook for companies in the global reinsurance sector will continue to remain negative as a result of hefty coronavirus claims and low interest rates. The good news for companies, however, is that the market …
