Thursday, October 15, 2020

Your Reinsurance News for 15 October 2020

R&Q's pre-tax operating profit up 30%; COVID-19 dents investment result in H1‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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It's Thursday 15 October, 2020

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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.

Sponsored by Swiss Re
Fernando Villar, COO and Head of P&C solutions for EMEA, Swiss Re
"As a result-oriented leader, my first reaction is to think about numbers."
Proportional cyber reinsurance remains in high demand
This year, our assumption is that the market will grow by over 20%.

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.

Turk Reasurans

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.

PCS Original Risk

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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