Chubb

Inside P&C’s morning summary of the key stories to get you up to speed fast.

New demand for reinsurance cover that was expected to come to the market around the January renewals is being reined in as insurers recognise the extent of the hardening market.

Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.

The executive spent over 40 years at Chubb, first joining the carrier back in 1982 as a trainee.

The executive succeeds Steven Goldman who has left the company, and will report to John Lupica, vice chairman of Chubb Group.

The executive assumes the role from Bill Hazelton, who was recently made head of North American industry practices.

Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

The insurer expects to pay the remaining $600mn liability within the next 12 months.

Discussion on Q3 earnings calls focused heavily on the supply-demand imbalance in cat capacity, as executives discussed how they would navigate a challenging January renewal.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s news team runs you through the key highlights of the week.