Register for our Prospectus 2021 conference R&Q's pre-tax operating profit up 30% R&Q has reported a 30% rise in pre-tax operating profit to £10.4 million (USD 13.4mn) for H1 2020. AIR: Delta insured losses up to $3bn AIR puts the re/insurance market impacts from the storm in a wide range from $1bn to as high as $3bn. Guy Carpenter announces GC Access GC Access is a new business unit designed to provide dedicated MGA program business solutions. RenRe warns of Q3 operating loss Losses from cat events in the period are projected to drive a net negative impact of roughly $325 million. A tsunami of price & condition strengthening is coming: Peak Re CEO The industry can expect to see a significant amount of price and condition strengthening, said Hahn. PCS adds Gulf of Mexico elemental marine & energy losses The launch is seen as the first step on the road towards global elemental loss event coverage. Compre names CUO of Pallas Re Compre has announced the appointment of Anson Aguiar as CUO of Pallas Reinsurance Company. Q3 cat losses above estimates for RenRe, Arch, AXIS, The Hanover Insurance and reinsurance firms have been hit by multiple catastrophe events in the third-quarter. FCA BI case weakened insurer trust: CII poll Last month, the UK High Court gave its landmark verdict on the case brought forward by the FCA. Delta total insured losses said up to $2.7bn by CoreLogic Delta is estimated to have caused total insured market losses of between $1.5bn and $2.7bn. The Hanover estimates $66mn in Q3 cat losses This pre-tax figure is driven primarily by hurricane Isaias and wildfires in California and Oregon. Panoply of cat losses to drive structural change: KBRA Even without the pandemic, the re/insurance industry would still be facing another costly year. AXIS estimates Q3 cat losses at up to $255mn AXIS also confirmed that the losses were attributable to both its insurance and reinsurance segments. Third-party capital can play dual-role at R&Q The company makes it clear that accessing third-party capital to support growth is a key ambition. Up to $210mn in Q3 cat losses for Arch Arch's estimate relates to its property casualty re/insurance segments and is net of reinsurance. WTW adds Director of Climate Transition Risk Tony Rooke joins as Director of Climate Transition Risk in the company's Climate and Resilience Hub. Brown & Brown announces two acquisitions Brown & Brown has announced the acquisition of all of the assets of Bright & Associates and VAS. COVID wordings gap could hurt some insurers: AM Best The rating agency noted that reinsurers were quick to react with exclusionary language at the mid-year. Sequel releases Sequel Re Portal platform Sequel Re is a tool for management of all aspects of outwards reinsurance operations. Marsh adds senior hires to UK aviation team Mark Walters joins as a Managing Director within the UK Aviation Practice, effective immediately. Survey suggests rising interest in ILS investments: Schroders Investors remain focused on the core benefits of some private asset classes, despite the pandemic. CAC Specialty establishes analytics practice Nathan Baseman joins the firm as Senior Vice President and Analytics Practice Leader. Radian seeks first mortgage ILS since COVID The firm seeks $488mn of collateralised reinsurance through it latest mortgage ILS transaction. PrimeOne adds Eric Jarvis as COO Jarvis brings 21 years' experience to the role and will report directly to David Thorson. |
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