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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas. -
Reinsurer executives during a Aon reinsurer panel stressed that the industry worked hard on setting the right structure.
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Sources said that the carrier has held preliminary talks with private debt investors.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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Rates will remain elevated in a period of structurally higher risk premia.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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The CEO said the carrier will prioritise margin over top-line growth.
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The vehicle will support Ascot’s casualty business in the US and Bermuda.
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The executive left Lockton Re in June after almost six years.
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Laure Forgeron has worked at the Swiss carrier since 2009 in numerous senior positions.
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The changes affect operations in Switzerland, Bermuda and the US.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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The firm expects to replace the volume with Innovations-channel business.
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Hamilton also expects rising demand and stable supply for June 1 renewals.
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Jack Kuhn, President of Westfield Specialty, discusses the shifting market cycles and changing landscape at RISKWORLD 2025.
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The reinsurer also promoted Ethan Allen to chief program officer.
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The only major product line to see rate increases was casualty.
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The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
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The executive has managed both casualty and personal lines reinsurance books.
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The executive was Everest CEO from 1994 to 2013 and has served as board chair since 1994.
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Instead, the reinsurer plans to write more casualty business through its innovations book.
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Industry sources estimate the market to be around $3bn.
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The firm projects losses from the fires at between $160mn-$190mn.
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Many cedants secured aggregate and subsequent coverage at 1 January.
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Concern over rate adequacy remains, but reinsurers are delving deeper into data rather than walking away.
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The agency’s outlook for global reinsurance remains at Positive.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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The broker said the casualty segment is approaching an “inflexion point”.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
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