As the industry gears up for another round of catastrophe reinsurance renewals, and reinsurers evaluate their portfolios, what factors are taking centre stage?
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Recap the most important re/insurance industry news, featuring: Swiss Re, Aon, The Ardonagh Group, Lockton, AXIS (AXIS Capital), Enstar Group, PERILS AG, Canopius Group, Howden, PartnerRe.
The reinsurance industry should expect to see fairly stable conditions at the upcoming January 1st reinsurance renewals, with property catastrophe reinsurance pricing anticipated to be somewhere close to flat due to losses from recent hurricanes Helene and Milton not developing as adversely as original forecasts from cat modelers, according to RBC Capital Markets.
Despite some near-term uncertainties surrounding tax regulations, KBW analysts remain optimistic about the Bermuda reinsurance market and maintain their outperform ratings on several leading reinsurers.
The US Federal Reserve Board has announced seven appointments to its Insurance Policy Advisory Committee, consisting of three new faces alongside four returning members.
Cyclone Chido, which struck several countries in Southeast Africa between December 13-16, is estimated to cause insured losses between €650 million and €800 million, according to French public reinsurer CCR - Caisse Centrale de Réassurance.
BMS Group, an independent specialist insurance and reinsurance broker, has completed the acquisition of UK-based David Roberts & Partners (Insurance Brokers) Ltd.
The US commercial property insurance market is showing signs of improvement, with stable growth expected despite challenges such as climate change and inflation, according to the Insurance Information Institute.
Global insurtech bolttech has revealed a new $100 million Series C funding round, led by Dragon Fund, alongside Baillie Gifford and Generali.
CatX Capital, the digital marketplace that connects re/insurers and brokers with alternative capital, has partnered with modelling and risk analytics specialist Verisk.