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Top Stories / Ad / Most Recent
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The London-based MGA will begin underwriting its international book next month. -
Habayeb will start next May following Kociancic's retirement.
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GC continues to pursue Willis Re and individuals in court.
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Senior Willis Re recruit Jim Summers denied Kevin Fisher had a role at the start-up.
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GC accused Willis, Lucy Clarke, Jim Summers and John Fletcher of unlawful recruitment.
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The appointment follows Everest’s $2bn renewal rights sale of its commercial retail business to AIG.
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Aspen's GWP increased 0.9% to $1.13bn, as it focuses on “robust cycle management”.
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After outsized losses, the (re)insurer still sees opportunity in a softening market.
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The reinsurance loss ratio improved by over 20 points with no notable cat losses for the quarter.
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T&Cs, as well as exclusions, remain largely unchanged, the executive said.
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The carrier is continuing to reposition its portfolio to drive more consistent returns.
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Casualty rates in Q3 rose 6.1% driven by increases in commercial auto, energy and excess liability.
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Interim CUO Nick Pritchard turned in his notice in August of this year.
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YTD disclosed run-off deals total 26, with $1.36bn of gross liabilities transferred.
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The global insurer is buying access to distribution and underwriting at a carrier with a 27% GWP CAGR.
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The Bermuda carrier brought a winding-up petition earlier in October.
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A re-focus on reinsurance nearly brings Everest back where it started.
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Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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The CEO noted that 45% of Everest’s US casualty book did not renew this quarter.
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The property segment reported a combined ratio of 15.5% for the quarter, versus 60.3% a year ago.
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Despite the pricing pressure, margins for the line of business remain attractive, he added.
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The global insurer will need to convince investors on the quality of the book.
