News relating to the Bermuda and international insurance and reinsurance industry.
A hardening market is prompting companies to use their captive to help dodge or offset rate increases.
Commercial auto insurance saw double digit price increases reported for the fourth consecutive quarter in Q1 2019, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS).
Athora Holding and NN Group to divide up Vivat’s insurance business
Seven severe convective storms affecting central and eastern parts of the US in May will trigger insurance industry payouts worth billions of dollars, according to Aon, the highest May tally since 2015.
Reinsurers' sentiment is increasingly positive, with underwriters “more willing to push for price increases across business lines,” according to S&P Global.
Aspen Re, the reinsurance segment of Aspen, has appointed Meredith Head as head of North America property catastrophe, effective September 2019.
Validus Re, the Bermuda-based reinsurer acquired by AIG in 2018, has appointed Jeff Clements as CEO.
Bermuda re/insurers have seen substantial rate increases of 10-30 percent at the June 1 Florida property catastrophe renewals on loss-affected accounts, according to research from Morgan Stanley.
White Mountains Insurance Group has acquired a minority equity stake in Elementum Advisors, an SEC-registered investment advisor focused on managing investment portfolios exposed to natural catastrophe event risk.
Everest Insurance has named three new members to its professional liability group, which provides coverage for architects, engineers, lawyers, accountants and other professions incurring professional liability.