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Reinsurers grapple with loss deterioration challenge

Loss estimates for Typhoon Jebi more than doubled in the first half of 2019, while wildfire models have effectively been thrown out following recent losses in California, leaving even the most sophisticated carriers facing significant challenges in reserving for losses
Losses Monte Carlo Property

Lloyd's promises tough action ahead of 'sobering' culture report publication

Chairman pledges ‘radical action’ to stamp out harassment and inappropriate behaviour
Lloyds Diversity Market Modernisation

Specialty Markets

Marsh promotes Smith to head of UK aviation

Executive succeeds Mark Costin, who departed to rival BGC
United Kingdom Aviation Broker

In Depth

A deeper look at the topics impacting the industry


Regulars

Deeper insight into market trends

Insurance Day’s regular sections, providing clarity on market trends and insight into their implications

 

 

ID Comment

ID Comment Company News

© 2019 John Raoux/AP
ID Comment: Dorian, Faxai and pricing in near misses
Re/insurance losses from several recent catastrophes were very nearly a lot worse and the loss potential from these events needs to inform pricing discussions
Sunshine (Vibrant Image Studio/Shutterstock.com)
ID Comment: 'The sun is beginning to shine on reinsurers but the dark clouds are never far away'
The global reinsurance sector is seeing improving returns and could break even this year, depending on catastrophe losses. But climate change may require a reassessment of what a normal loss year is
Jae C Hong/Shutterstock.com
ID Comment: Wildfire withdrawals bring reputational risk for insurers

California’s wildfire insurance market is experiencing turbulence in the aftermath of recent loss activity

Merger (NESPIX/Shutterstock.com)
ID Comment: M&A in reinsurance will continue despite easing pressures
Despite recent cat losses, prices are not hardening enough to prevent smaller players continuing to seek scale and relevance

 

Companies House

Market Commentary

Cat Fund participation level rises again
Market manoeuvres in Florida disguise reinsurance trajectory
Reinsurance conditions remain good for US cedants

 

Stockwatch

Stockwatch Company News

Lucas_zb/Shutterstock.com
StockWatch: Greenlight Re and Third Point Re shares surge
Hedge fund reinsurers rise, while European groups also enjoy bounce 
Arrows up (HelloRF Zcool/Shutterstock.com)
StockWatch: RenRe up nearly 5% despite Dorian threat

Insurance stocks rise as global stock markets rebound

Lloyd
StockWatch: Insurance stocks sink amid hurricane fears

Lloyd’s and Bermuda shares slip as Dorian compounds recession worries 

Hannover Re head office, Hannover
StockWatch: RSA rises 4% as it readies £350m bond issue
Hannover Re up 5%, buoyed by European equity market bounce-back

 

Legal Focus

Market Commentary

Legal Focus: Australian appeal court reignites debate on depreciation charges in BI covers
Legal Focus: German insurance limitation period reviewed
Legal Focus: Brazilian insurers rocked by Susep’s muddled sanctions ruling

Hot Topics

Making complex issues simple

Focusing on what matters to the market, understanding the forces that are shaping the industry

 

 

Lloyd's: Meeting the challenges

Lloyds Company News

London connected (IR Stone/Shutterstock.com)
Focus: New wave of start-ups increases pressure on incumbent players
Newly formed, technology-efficient insurance and broking companies are set to reap the benefits of the reforms under way at Lloyd’s
Lloyd
Compre targets Lloyd’s entry as it eyes RITC opportunities

Legacy specialist also targets US expansion to build on strong position in Europe

Aspen names Edwards to lead UK operations
Bermudian group also appoints former Markel International claims director to UK board
Lightbulbs (lovelyday12/Shutterstock.com)
MGA model to be ‘reset’: Volante CEO
The sector is undergoing a profound cultural shift, according to Talbir Bains

 

Brexit

Market Commentary

Legal Focus: European Commission stands firm on equivalence as Brexit nears
Contract continuity and market volatility lead firms’ Brexit fears
Legal Focus: London should remain arbitration centre after Brexit

 

Digitalisation

Digitalisation Company News

PopTika/Shutterstock.com
Viewpoint: Relationship management in the insurtech age

The new generation of re/insurance networking platforms will never replace face-to-face contact, but they will significantly enrich and deepen those relationships

Prostock-studio/Shutterstock.com
Focus: The role of insurtech in sustainable development
Parametric insurance, powered by insurtech and supported by a proportionate regulatory frame work, can significantly increase financial inclusion and insurance penetration in developing economies
vs148/Shutterstock.com
Focus: The ethics of artificial intelligence
As carriers start to utilise AI technologies, they need to consider the ethical dimensions of their existing data governance processes – before they are forced to do so by the regulator
Dollars (ElenaR/Shutterstock.com)
Cyber modelling firm Kovrr raises $5.5m
AI platform quantifies affirmative and silent cyber risk exposures

 

Cyber

Market Commentary

Large account cyber 'must react to rising losses'
Re/insurers warned of threat from escalation of cyber 'Cold War’
Cyber modelling firm Kovrr raises $5.5m
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