Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced its entry into the Excess Casualty market, appointing David Perez to lead the new offering. TMHCC’s entry into the Excess Casualty market comes at a crucial time, providing much-needed capacity for insureds as insurers continue to reduce limits in response to rising loss costs. David […]
Carrier
European insurers on track for solid FY24 results despite varied country trends: Fitch
European insurance companies posted strong results in 1H24, driven by favourable interest rates and pricing cycles, despite varied national trends, according to Fitch Ratings. Most insurers are on track for a solid full-year performance, with interest rate cuts starting and insurance price increases likely having peaked. Underwriting margins in the life insurance sector have benefited […]
Konrad Baumann joins SRS Switzerland as GM for SRS Europe
Strategic Risk Solutions (SRS), an independent provider of insurance, reinsurance and captive management and consulting services, has announced that Konrad Baumann has joined SRS Switzerland as a General Manager of SRS Europe. He joins the organisation with more than 15 years of expertise in the captive industry, where he has previously focused on finance and […]
Triple-I & Milliman reveals US P&C H1’24 are underwriting results better than expected
According to the latest forecasting report by the Insurance Information Institute (Triple-I) and collaborating partner, Milliman, the first-half economic and underwriting results for the US property and casualty (P&C) industry were better than expected. The report, Insurance Economics and Underwriting Projections: A Forward View discloses that the net combined ratio (NCR) estimate of 99.4 improved […]
Modernisation as the key to effective risk selection and pricing in underwriting: Altus Consulting
Altus Consulting, a specialist in Financial Services Management Consultancy, has released a whitepaper titled All Aboard for Modernisation: Next Stop Underwriting, which discusses the insurance industry’s imminent next phase of modernisation, with underwriting at the centre of this evolution. Despite an estimated £15 billion spent over the past decade on transformation programmes, insurance businesses have […]
AXIS Capital introduces new leadership for its Irish legal entities
AXIS Capital Holdings Limited, a provider of specialty insurance and reinsurance solutions, has announced new leadership appointments for its Irish legal entities, AXIS Re SE and AXIS Specialty Europe SE, both based in Ireland and regulated by the Central Bank of Ireland. Offering a wide range of products to help businesses manage complex risks, including […]
WTW report highlights stability in North American commercial insurance rates
According to the latest Insurance Marketplace Realities report from WTW, an advisory, broking, and solutions firm, commercial insurance rates have maintained steadiness and balance throughout the year across North America. WTW notes that new capital entering both the reinsurance and retail markets has intensified competition for premium market share, except in the umbrella and excess […]
Ambac partners with Mike Miller-led MGA Pivix
Insurance holding company Ambac has partnered with Mike Miller and his team on the launch of Pivix Specialty Insurance Services Inc., a managing general agency focusing on the excess and surplus (E&S) lines market. Miller, who is the former president of Scottsdale Insurance, the E&S carrier of Nationwide, is president and chief executive officer of […]
Milton landfall along central west coast of Florida will be a major event for re/insurers: BMS
Hurricane Milton is now a Category 5 with maximum sustained winds estimated at 160 mph with higher gusts, and while there remains much uncertainty as to how strong Milton will be at landfall and the exact location of this, BMS Group’s Andrew Siffert has stressed that a landfall around Tampa will be a major event […]
Tight underwriting standards strain insurer-agent relationship despite high satisfaction: J.D. Power
Independent insurance agents’ satisfaction with personal and commercial lines insurers has held strong despite a challenging environment, yet tighter underwriting standards strain their relationship with insurers, a J.D. Power study has found. According to the J.D. Power 2024 U.S. Independent Agent Satisfaction Study, “overall agent satisfaction with insurers of both personal lines and commercial lines […]