Munich Re
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In casualty, the executive is seeing an acceleration of flight to quality both from cedants and reinsurers. -
HSB CEO Greg Barats and American Modern CEO Andreas Kleiner will retire at the end of Q1 2026.
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The carrier combined its E&S primary and excess casualty units into a single group.
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The executive noted that an influx of new entrants in the E&S market is increasing competition.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The insurer has been under review with positive implications since March.
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As the fires spread, the priority shifted from saving structures to saving lives.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The executive has been with the company for roughly one year.
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The executive was previously president of insurance programs.
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It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
