Reinsurers
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The former EVP and head of annuity solutions will replace Schaefer upon retirement. -
The influx of capital, combined with a quiet wind season, led to favorable conditions for cedants during 1.1 renewals.
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Cedants pursued property renewals “aggressively” amid excess reinsurer capacity.
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Cedants are opting to bank double-digit savings as reinsurers fight for market share.
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In casualty, the executive is seeing an acceleration of flight to quality both from cedants and reinsurers.
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The US insurer squeezed its retention in a renewal where cat treaty retentions are widely holding steady.
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The company named two execs to head global wholesale and commercial.
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Inflation was down from the 3% recorded for the 12 months ending in September.
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The National Council of Insurance Legislators said insurance oversight should be left to states.
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A district court judge had dismissed the case in September, with prejudice.
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Los Angeles wildfires and SCS pushed US losses to $89bn.
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Attorneys and doctors targeted by the case claim Uber has no standing to bring a Rico suit.
