Archive for July, 2020

U.S. primary insurance carrier Travelers is now very close to attaching or triggering its $280 million of aggregate reinsurance coverage, after a heavy catastrophe toll from severe weather in the second-quarter added to the companies losses.

France headquartered global reinsurance group SCOR said that it expanded its catastrophe reinsurance portfolios at the June and July 2020 mid-year renewal season, while recognising an overall 8.2% price increase across the renewal book.

Nephila Capital, the largest dedicated specialist insurance and reinsurance linked investment fund manager, is to appoint an active underwriter for its new specialty lines focused Syndicate 2358 at Lloyd’s.

Global insurance and reinsurance group Everest Re has added another $160 million to its reserves for claims and losses from the Covid-19 pandemic, with the majority again coming from its reinsurance division.

Australian primary insurance group IAG has added new catastrophe reinsurance protection at the July 1st renewals, increasing its aggregate protection and also capping potential losses with a stop loss cover.

Two tropical storms, Gonzalo and Hanna, each of which has broken records as the earliest seventh and eighth named storms to form of the Atlantic tropical storm and hurricane season, are threatening impacts in the coming days.

U.S. primary insurance carrier Travelers has confirmed that its estimated $400 million PG&E subrogation related recovery will inure to the benefit of its reinsurance panel.

Beazley, the Lloyd’s market focused specialist insurance and reinsurance underwriter, has continued to expand its market facilities business line which includes its third-party capital backed beta-like market tracking structures.

Allianz Global Corporate & Specialty (AGCS) has appointed Grant Maxwell as the new Global Head of Alternative Risk Transfer within the unit of the global insurance and reinsurance player.

Arch Insurance, the primary arm of Bermuda based insurance and reinsurance player Arch Capital Group, has promoted Krista Bonneau to the position of Senior Vice President of Ceded Reinsurance, giving her responsibility for buying across the protection programs of the company.