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APCIA Annual Meeting 2024
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Insurance Insider US will be on the ground at APCIA 2024 from October 6-8 in Chicago. We'll deliver exclusive news and insights from the ground, available via this hub and our daily email newsletters. Subscribe now for access to our content or email us to connect at the event.
Latest News
Latest News
APCIA 2024: Milton raises prospect of further cat rate rises
Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
APCIA 2024: Milton adds unknown to US casualty re capacity
The magnitude of the hurricane may impact reinsurers’ capacity deployment.
US casualty is not ‘quite there yet’ on remediation: Swiss Re’s Ningen
Pockets in the business are still experiencing significant stress, she added.
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The panelists discussed the ILS reset and the path to maintaining discipline in this sector. -
The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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The program’s total limit this year is down $594mn to $1.36bn.
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In March, this publication revealed that Pinnacle was considering a sale.
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The documents figure in a potential criminal case against a CCB employee.
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Muñoz was also Aon Re chairman for the Latin American region.
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The executive will also continue as MD overseeing Caribbean fac.
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Hussey will take over the role left vacant when Luis Sonville moved to AJ Gallagher late last year.
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The CUO’s turnover closely follows that of the CEO.
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Live since May 2023, the reinsurer has over 40 trading relationships currently.
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Sources said that Insurance Advisory Partners is advising the fac MGA on the strategic process.
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The non-peak peril is not secondary anymore.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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The firm has commenced writing collateralized retro and reinsurance, but its rated launch is still pending.
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Sources said the executive will join AJ Gallagher in a regional leadership position.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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Coverages include missed bid reimbursement, contingent bodily and property damage, and drone use violations.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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It is understood that Bezerra will remain based in Miami for his new position.
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Chandler stepped down as CEO in January to take the role of vice chair.
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The chief executive will also receive a yearly bonus of 200% of base salary.
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Current efforts to battle third-party litigation funding are focused on disclosure.
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Reinsurance capacity is largely stable but that doesn’t mean discussions will be a smooth ride.
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Industry sources widely expect the storm to wipe out Q3 earnings progress for domestics.
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Debbie Goldstine previously held an EVP role at Lockton.
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The hire comes amid the firm’s drive to expand in the US market.
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Reinsurers will likely push for double-digit US premium rate increases.
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She replaces interim COO Kirk Maddern, who retires at the end of the year.
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The executive joins less than a year after Baldwin Group launched Juniper.
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The underwriting venture, Florida Re, will target both US and LatAm markets.
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The company is currently “underweight” in that line of business, he added.
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The executive struck a cautious note on the industry’s reserve adequacy for the 2021-23 accident years.
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The broker reported that global reinsurer capital reached a record of $695bn as of June 30.
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“They want to grow their portfolios,” Guy Carpenter's CEO added.
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Return on capital employed hit 13% last year as the cost of capital fell to 8%.
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The CEA has $326.4mn towards risk transfer, 44% below budget.
