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Updated: 1 hour 27 min ago

Bermuda can lead on cyber insurance, says John Huff, head of ABIR

9 September, 2019 - 05:47
Bermuda continues to be a leader in nat cat coverage, and is becoming the leader in some specialty lines including cyber, according to John Huff, president of the Association of Bermuda Insurers and Reinsurers (ABIR).

Aon launches auction for reinsurance renewals, seeks to save insurers’ time

9 September, 2019 - 05:46
Aon has launched an auction capability for the January 1, 2020 reinsurance placements, claiming it can save insurers’ time. 

Trillion dollar opportunity as protection gap grows, says Swiss Re

9 September, 2019 - 05:45
The insurance industry has a huge opportunity to boost the world’s resilience to catastrophe losses a role that is more important than ever since the global economy has less capacity to absorb a shock than it did in 2007.

Industry veteran Ahlmann seeks $10 billion for Arena Capital fund

9 September, 2019 - 05:43
Industry veteran Kaj Ahlmann, the former chief executive officer of Employers Re, is in Monte Carlo this week opening doors for Arena Investors, a specialist investment adviser in the private debt space, which is looking to raise $10 billion from re/insurers willing to invest in a niche asset class but one which offers very healthy returns.

Nephila Capital to establish its own Lloyd’s managing agency

9 September, 2019 - 05:41
Nephila Capital, the insurance-linked securities (ILS) specialist now owned by Markel, has received regulatory approval to establish its own Lloyd’s managing agency. Nephila Syndicate Management will launch on October 11, 2019.

Beazley seeks 10% rate hikes across the board

9 September, 2019 - 05:40
Specialist Lloyd’s re/insurer Beazley will be seeking 10 percent rate increases across the board in this renewals season as it looks to offset higher retrocessional costs while re-pricing perils responsible for larger than expected losses in recent years. It also expects to shed 10 percent of its business.

Blockchain can help meet insurance sector’s challenges, say EY

9 September, 2019 - 05:39
The insurance industry must keep a close eye on the transformative potential of technology, according to Ian Meadows, director for insurance at EY and a director of EY’s initiative Insurwave, which offers blockchain-enabled marine insurance.

Capital rules that reward diversity have forced Lloyd’s syndicates into uncharted lines

9 September, 2019 - 05:38
The drive towards diversification to achieve greater capital efficiency has been partly responsible for the poor performance of some syndicates at Lloyd’s in recent years as carriers have looked to write lines of business without the appropriate expertise.

Lloyd’s at ‘pivotal moment’ as market evolves as CEO Neal builds consensus, says Aon

9 September, 2019 - 05:37
Lloyd’s is at a “pivotal moment” in its evolution, according to Aon’s 2019 Lloyd’s Update report, Redefining the Future.

Reinsurers refocus but buyers want to dodge hikes

8 September, 2019 - 05:34
Reinsurers will be more “thoughtful” and “selective” in the deployment of their capacity at this renewal as they take stock of the heavy losses, and subsequent loss creep from 2017 and 2018 and realign their portfolios. However, cedants that have performed well should escape any severe adjustments.

Scarcity of profits and ‘fear factor’ to drive rate hikes, says Swiss Re CEO

8 September, 2019 - 05:33
Corporate insurance rates are enjoying healthy rate hikes, which should put Swiss Re Corporate Solutions back on track after some difficult years, and reinsurance rates are seeing smaller increases—but the overall outlook for the industry is a positive one.

Convective storms: the impact

8 September, 2019 - 05:32
More severe convective storms are occurring in the US, meaning that insurers must increasingly see it as more than simply an attritional loss, Rajkiran Vojjala of RMS told Monte Carlo Today.

Apollo’s Ibott to evolve with fast-growing global sharing economy

8 September, 2019 - 05:31
The global sharing economy is potentially the “biggest expanding area for insurance in the next 20 years”, according to Matt Newman, head of casualty at Apollo and lead for the company’s Ibott brand.

Flandro hails exciting new era in role as chief of Hyperion X

8 September, 2019 - 05:30
David Flandro, the well-known broker who has previously headed analytics teams at JLT Re and Guy Carpenter, told Monte Carlo Today that his new role with Hyperion X, the data and technology arm of Hyperion Insurance Group, represents his most exciting challenge yet and an opportunity to take the use of data in the insurance and reinsurance industry to another level.

Parametric data will drive future for insurance industry

8 September, 2019 - 05:29
Geospatial Insight has launched PropertyView, which combines artificial intelligence (AI) and scalable cloud computing to extract building information from satellite imagery

The relationship nature of industry is going digital

8 September, 2019 - 05:28
A palpable change is taking place in the narrative around technology in the insurance industry. “The question is no longer ‘why do we need technology?’ but instead ‘how do we fully utilise technology?’,” Peter Clarke, founder and managing director of Insurercore, a digital market directory for the insurance industry, told Monte Carlo Today.

Market conditions favour cedants, but a pricing readjustment is under way

8 September, 2019 - 05:27
Given the current robust capital position of the reinsurance industry, market conditions remain favourable for cedants. As reinsurers and the capital markets adjust their risk assumptions, a period of readjustment is under way—and cedants’ loss history is becoming increasingly important.

Underwriting performance meets ratings

8 September, 2019 - 05:26
The relationship between historical risk-adjusted profitability and credit ratings is more profound but also more nuanced than many think, Stuart Shipperlee, director of Litmus Analysis, told Monte Carlo Today following a unique study.

Rates to harden—but not for all

8 September, 2019 - 05:25
Nearly three-quarters of respondents to an online Intelligent Insurer renewals survey expect the market to harden in the coming renewals season, with 53 percent of respondents expecting it to harden a little and 19 percent expecting it to harden substantially. 

Marsh agrees buyout deal with JLT's Construction Risk Partners

6 September, 2019 - 11:39
Broker Marsh and Construction Risk Partners (CRP), a specialty broker dedicated to the US construction industry, have entered an agreement whereby CRP management will buy back the company’s stock from JLT Specialty USA.

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