Reinsurance
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Rates up 4% in Q4 as moderation trend continued: Marsh
Average global commercial insurance rates rose by 4% in Q4 2022 as prices increased for the 21st consecutive quarter but…
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Rousseau replaced as SCOR CEO following poor Q3 results
Thierry Léger, group chief underwriting officer at Swiss Re, is replacing Laurent Rousseau as CEO of SCOR after the Paris-based…
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Gallagher expects further rate increases as it reports revenue growth
Primary insurance rates will likely increase further in 2023 as the effect of higher year-end reinsurance costs filter through to…
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Higher reinsurance costs likely to reaccelerate primary rate increases
The hardening reinsurance market at 1 January could well “reaccelerate” price increases for commercial property and specialty insurance buyers, market…
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New head of captives in APAC and Europe at AXA XL
Marine Charbonnier has been appointed as head of captives and facultative underwriting, APAC & Europe at AXA XL Insurance. She…
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Reinsurance market hardening to last through 2023, says AM Best
A flood of fresh capital is unlikely to enter the hardening reinsurance market any time soon because investors remain wary…
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Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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AGCS says Beazley’s cyber cat bond likely to set precedent and spur market
AGCS’s chief underwriting officer (CUO) thinks the recent cat cyber bond created by rival Beazley will set a precedent in…
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MGA Arcadian Risk Capital in property binding deal with Aviva
Bermuda-based MGA Arcadian Risk Capital has entered into a direct and facultative property binding arrangement with Aviva Insurance Ltd UK.…
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MS Amlin launches third special purpose reinsurance vehicle in Asia
Lloyd’s specialty (re)insurer MS Amlin has launched a local special purpose reinsurance vehicle (SPRV) for the third year running. The…
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Property and certain specialty lines see big 2023 reinsurance renewal increases
The insurance sectors seeing the biggest premium rate increases in the January 2023 reinsurance renewals were property and specialty, including…
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Property reinsurers push Europe into hard market at 1/1 renewals
European reinsurance buyers once again faced a hard market at January renewals after ten years at the bottom of the…
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New hire expands McGill and Partners’ structured solutions team
McGill and Partners has expanded its structured solutions team with the hire of new partner Dan Cordina. He will lead…
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Reinsurance renewals one of the hardest in living memory, says Howden
The convergence of geopolitical and macroeconomic shocks, as well as the second-most expensive natural disaster ever in the form of…
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Jan reinsurance renewals ‘extremely late’ and ‘challenging’: Guy Carp
Key reinsurance renewals for 1 January were “extremely late” and one of the most challenging ever, according to broker Guy…
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New captive rules get approval in France as AMRAE gears up for conference
Captives will again be high on the agenda at the annual AMRAE meeting of French risk and insurance managers in…
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AM Best upgrades Covéa to A+ after PartnerRe buy
AM Best has upgraded the financial strength rating for French mutual Covéa to A+ following its acquisition of PartnerRe in…
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Reinsurers pull cover for Ukraine cargoes with 1/1 war-risk exclusions: Bloomberg
Major reinsurers will pull cover from the start of next year for vessels going to and from Russia and Ukraine…
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Munich Re creates new global specialty insurance division
Munich Re is launching a new global specialty insurance division (GSI) to become a “powerful” player in the primary specialty…
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Munich Re predicts slight fall in profits at ERGO next year but improved CR
Munich Re expect its profits to increase to around €4bn next year from a target of €3.3bn in 2022, with…