Close quarter

Close Quarter

E&S

ISA’s Siegel: Future of human/social services business at the mercy of legislation and social inflation

The future of the human and social services insurance market will be dictated by a number of external factors, including legislation and social inflation, with the CEO of Irwin Siegel Agency (ISA) warning these could impact the stability of the market.

Aon’s Schultz: 2023 will see cat bond issuances return to “record levels” at $11bn+

Close Quarter

Cyber

Aon’s Schultz: 2023 will see cat bond issuances return to “record levels” at $11bn+

Cat bond issuance levels are expected to reach record levels in 2023 with Aon Securities CEO Paul Schultz predicting north of $11bn as a “reasonable outcome” following a muted end to 2022 as a result of investor uncertainty and frustrations.

Aon’s Schultz: Modelling inaccuracies “principal concern” for ILS market

Close Quarter

Capital

Aon’s Schultz: Modelling inaccuracies “principal concern” for ILS market

The industry’s inability to accurately calibrate models is the “principal concern” for ILS investors, with 2022’s loss experience exacerbating this issue and causing a number of deals to be delayed during the fourth quarter, according to Aon Securities CEO Paul Schultz.

Close Quarter

Legacy

GC’s Hochberg: More “mega” legacy deals in 2023 as hard P&C cycle drives demand

The legacy market will continue to grow in 2023 with more varied and larger portfolios being transferred to run-off counterparties as carriers look to optimise reserves and deploy capital in the hard P&C market, according to Guy Carpenter’s Ed Hochberg.

Crawford’s Verma: 100-year event metric is no longer relevant

Close Quarter

Losses

Crawford’s Verma: 100-year event metric is no longer relevant

The increased frequency of high-severity events has rendered the 100-year event metric almost redundant, said Crawford CEO Rohit Verma, as he reflected on the impact of recent natural catastrophes.

News

Deloitte’s Johal: Reinsurance market heading towards “bifurcation”

Baden-Baden

Swiss Re’s da Victoria Lobo: Misunderstanding inflation will “short-change policyholders” towards underinsurance

News

Sompo International’s Donelan: Hard property market will influence capital deployment in casualty

Losses

Gallagher Re’s Bowen: Ian’s “surprising” storm surge and expansive wind damage to drive high loss costs

Close Quarter

Russell Group’s Basi: Inflation has exacerbated industry’s need for price correction

Close Quarter

Gallagher’s Bane: Florida commercial property buyers facing capacity shortage in 2023

Cyber

Millette: First cyber 144A cat bond “likely” for 2023

Losses

Millette: ILS cat paradigm is “broken”; wholesale rethink required

Losses

CT’s Sophy: Bulk of Ian claims so far for wind rather than flood

Close Quarter

Liberty’s Moore: London market “hasn’t done a good enough job” in attracting right recruits

Close Quarter

The Insurer TV: Aspen targets property cat margin growth amid “dearth of capacity”

Close Quarter

Legacy pipeline “incredibly strong” as run-off recognised as capital management tool

Close Quarter

Skyward draws in talent by “building the place we always wanted to work”

Property catastrophe

Karen Clark: Hurricane Andrew would cost insurers ~$70bn if it struck today

Property catastrophe

Xubin Zeng: Limited collaboration with academia is slowing development of cat models

Marine

Ascot calls for standardised approach to war covers in cargo market

Cargo

Ascot’s McGill: Ukraine cargo facility is “what the Lloyd’s market is all about”

Close Quarter

Aviation hull war rates continue to accelerate ahead of Q4 airline renewals

ESG

Geneva Association: Progress towards cyber public-private partnerships “still modest”

ESG

ISA’s Siegel: Future of human/social services business at the mercy of legislation and social inflation

Aon’s Schultz: 2023 will see cat bond issuances return to “record levels” at $11bn+

Aon’s Schultz: Modelling inaccuracies “principal concern” for ILS market

GC’s Hochberg: More “mega” legacy deals in 2023 as hard P&C cycle drives demand

Crawford’s Verma: 100-year event metric is no longer relevant

ISA’s Siegel: Future of human/social services business at the mercy of legislation and social inflation

Aon’s Schultz: 2023 will see cat bond issuances return to “record levels” at $11bn+

Aon’s Schultz: Modelling inaccuracies “principal concern” for ILS market

GC’s Hochberg: More “mega” legacy deals in 2023 as hard P&C cycle drives demand

Crawford’s Verma: 100-year event metric is no longer relevant

GC’s Enoizi: Industry must focus on “systemic solutions for systemic risks”

GC’s Enoizi urges industry to improve “blending” of risk adaptation and risk financing

LifeScienceRisk’s Gill: Life sciences insurers must be “forward-thinking” to enable prototype development

Millette: Dislocation means cat markets won’t clear at 1.1 but welcomes direction of reforms

Moody’s: P&C insurers “must get fundamentals right” to ensure sustainable growth

Apollo’s Slaughter: Reinsurance crucial to next stage of cyber evolution

Scor in “materially better place” as company turns the page after difficult 2022: KBW

German reinsurance duo best positioned to take advantage of opportunities at “late and messy” 1.1 renewal

Mapfre Re’s CEO ready to develop portfolio but warns structural changes needed at 1.1

Axis’ Tizzio: E&S rates show “continued firming” in response to loss cost trends and nat cats

Deloitte’s Johal: Reinsurance market heading towards “bifurcation”

Swiss Re’s da Victoria Lobo: Misunderstanding inflation will “short-change policyholders” towards underinsurance

Sompo International’s Donelan: Hard property market will influence capital deployment in casualty

Gallagher Re’s Bowen: Ian’s “surprising” storm surge and expansive wind damage to drive high loss costs

Russell Group’s Basi: Inflation has exacerbated industry’s need for price correction

Gallagher’s Bane: Florida commercial property buyers facing capacity shortage in 2023

Millette: First cyber 144A cat bond “likely” for 2023

Millette: ILS cat paradigm is “broken”; wholesale rethink required

CT’s Sophy: Bulk of Ian claims so far for wind rather than flood

Liberty’s Moore: London market “hasn’t done a good enough job” in attracting right recruits

The Insurer TV: Aspen targets property cat margin growth amid “dearth of capacity”

Legacy pipeline “incredibly strong” as run-off recognised as capital management tool

Skyward draws in talent by “building the place we always wanted to work”

Karen Clark: Hurricane Andrew would cost insurers ~$70bn if it struck today

Xubin Zeng: Limited collaboration with academia is slowing development of cat models

Ascot calls for standardised approach to war covers in cargo market

Ascot’s McGill: Ukraine cargo facility is “what the Lloyd’s market is all about”

Aviation hull war rates continue to accelerate ahead of Q4 airline renewals

Geneva Association: Progress towards cyber public-private partnerships “still modest”

Marsh’s Denny: D&O underwriters to intensify ESG focus as new exposures emerge