Treaty Reinsurance

Axis Re, the reinsurance arm of Axis Capital, has announced the appointment of Matt LoPiccolo to a strategic account executive role with a remit to drive broker engagement.

The facility is the second in South America for the firm, which established a local presence in Argentina in 2016.

Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.

The Floridian carrier said reinsurance spending was up by 5%.

Aon and Willis have been in talks with Gallagher over a sale of assets the broking houses must make to gain approval of their pending merger from antitrust regulators.

The Bermudian booked a $4.6mn loss from Winter Storm Uri.

Underlying margins at all three of Alleghany’s insurance business improved, but $80mn in catastrophe losses led underwriting profits at RSUI to fall.

The Tremor CEO spoke to Inside P&C recently, offering an inside look at his company’s Panorama platform.

Several (re)insurer reporters do not anticipate the rate momentum to slow down materially even as they build on exposure growth.

A series of devastating hailstorms has struck Texas and Oklahoma in what BMS meteorologist Andrew Siffert has described as a “billion-dollar hail loss event” for insurers.

Insurance rates in the US rose 15%, while London market pricing was up 10%

The volume of deals also reached a record high of 146 over the period, up by 42% compared with the prior quarter.