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Property-cat rates on-line back to post Superstorm Sandy levels

Reinsurance rates-on-line accelerated by 5-10 percent on average at June 1. 2 June 2021

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Fitch unveils positive outlook on AXA driven by AXA XL

It also downgraded AXA Singapore due to its diminishing strategy importance to AXA. 1 June 2021

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Turbulent 2020 triggers drop in insurers’ profits: Verisk/APCIA report

Private US property/casualty insurers’ net income fell 2.9% to $60.1 billion in 2020. 1 June 2021

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Bragar Eagel & Squire investigates James River over Uber policies

Bragar Eagel & Squire (BE&S), the shareholder rights law firm, is investigating potential claims against James River Group Holdings on shareholders to determine whether the Bermuda-based re/insurer violated federal securities laws or engaged in other unlawful practices. 28 May 2021

Life

Markel eyes growth in specialty programmes with new hire

Markel Corporation has named a new senior director for its specialty programmes business. 28 May 2021

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AXA XL promotes head of distribution for Iberia

AXA XL Insurance in Spain has promoted a new head of distribution for Iberia. 28 May 2021

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AM Best assigns rating to Athene’s $500m unsecured bonds

AM Best has assigned a long-term issue credit rating of bbb+ to Athene’s recently issued $500 million 3.95 percent senior unsecured notes due May 25, 2051, with a stable outlook. 28 May 2021

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Chubb makes $1m donation to causes advancing US racial justice

The Chubb Rule of Law Fund (CRLF) has awarded more than $1 million to projects that work to advance racial justice in the US. 28 May 2021

Life

Hamilton names its first head of allied medical for US E&S

Hamilton Insurance Group has hired a head of allied medical for its US excess and surplus (E&S) business, a newly created role intended to allow Hamilton to grow its business in this area. 27 May 2021

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Bermuda increases its dominance of the US mortgage reinsurance market

More than half of US mortgage reinsurance is backed by Bermuda’s reinsurance market, according to new analysis by the Association of Bermuda Insurers & Reinsurers (ABIR). 27 May 2021

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