Latest news
LA firestorm: $20-30bn insured loss estimate from Moody’s RMS
Cat modeller’s preliminary estimate range reflects impacts observed to date, with significant uncertainty.
Battleground over soft skills: interview with Gracechurch’s Ben Bolton
People think there’s a battle being fought over technology, but the London market needs to be more responsive, and better at sales skills, according to Gracechurch Consulting’s founder.
WEF: ‘Escalating’ environmental, geopolitical, social, technology challenges
War risk is the biggest immediate fear, imperilling stability and progress, while technology and the environment loom large and dominate medium long term concerns, according to the 20th edition of the World Economic Forum’s (WEF) Global Risks Report 2025.
Munich Re appoints Schwimmer to lead specialty reinsurance, Lloyd’s and Bermuda
Christa Schwimmer has been with Munich Re for 23 years, starting in 2002 as a property treaty underwriter for Japan.
Arch Insurance EU appoints Smith CEO
Duncan Smith is promoted to lead Arch’s European Union subsidiary in Dublin.
David Howden plea to brokers stresses London’s ‘untapped potential’
In a rapidly evolving geopolitical landscape, insurance alone has the power to de-risk potentially trillions currently sitting untouched on company balance sheets, according to Howden Group’s chief executive.
Lockton Re adds two senior casualty brokers in London
Daniel Moruzzi and Matthew Cope have both joined the reinsurance broker’s international P&C division in London as senior brokers.
LA wildfires have likely destroyed 10,000+ buildings, costing insurers ‘billions’
Los Angeles wildfires, with the Palisades fire looking like the most destructive, have already burned 11,802 acres and are “0% contained” as high winds threaten to further fan the flames.
ASR launches first Africa focused Lloyd’s consortium
Baobab will work across political risk, trade credit, political violence & terrorism, property, energy, construction and liability lines.
M&A cover demand rising with bullish deals outlook – Gallagher Specialty
A more positive economic environment is translating quickly into the M&A space, according to Gallagher Specialty in its latest global M&A report.
John Neal quits Lloyd’s, appointed Aon global reinsurance CEO
New global climate role will help tackle increasing weather and catastrophe risks, reinsurance broker said.
Casualty renewal stable despite reinsurer concerns – Aon
The broker reported many of its excess casualty clients saw an improvement in risk-adjusted margins, despite adverse litigation trends and loss development on US exposures written in soft market years.
Property cat ROL down 6.6% globally at 1/1 – Guy Carpenter
The reinsurance broker released its rate-on-line indices for property catastrophe business at the 1 January reinsurance renewal, headlined by a US decrease of 6.2% and an overall fall of 6.6% globally.
Howden at 1/1 heralds new phase in the cycle ‘past the pricing peak’
Risk-adjusted price reductions at January renewals included retrocession down 13.5%, D&F down 12.5%, global property cat down 8% and London market casualty XoL down 2%.
Davies appoints Button as deputy CEO
New deputy CEO was previously North American boss and M&A director; the insurance services firm also outlined a “Vision-2030” strategy.
New MGA Volt Underwriting hires London market energy leader
Louis Scott joins the newly-formed managing general agent (MGA) from Travelers.
Gallagher Re at 1/1: ‘tense’ casualty negotiations put onus on data; prop cat competition ‘responsible’
The reinsurance market is in a strong financial position at the 1/1 renewal, according to the reinsurance broker’s “1st View Report: Differentiation Rewarded” and an interview with Gallagher Re’s Chirag Shah.
Guy Carpenter on 1/1: ‘strong reinsurer appetite, excess prop cat capacity’
Non-loss-impacted property catastrophe renewals fell 5-15% risk-adjusted at 1/1, the broker said, but casualty reinsurance buyers experienced ”varying outcomes”.
Martin Reith to join Acrisure, Volante at Lloyd's
Re/insurance veteran Martin Reith joins as executive chairman of Volante, a Lloyd’s business with extensive MGA operations.
Lockton Re launches Portfolio Solutions arm
Led by Jeff Fleming in New York, the reinsurance broker’s new unit will target ‘US programs and MGAs’.
ICEYE to add wind risks to flood and wildfire focus; satellite constellation reaches 40
Synthetic-aperture radar satellites complements other technologies used to assess natural catastrophe damage, and ICEYE plans to use its growing satellite constellation to prevent flood damage when possible, as well as detect it.
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