News
Insurance
US homeowners’ direct written premiums increased from $91 billion in 2016, to $94 billion in 2017, and could reach $96 billion in 2018 given rate activity through September, according to Aon’s Reinsurance Solutions’ annual Homeowners’ ROE Outlook report. 29 October 2018
Insurance
The US re/insurance industry must learn the lessons from when the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) was renewed in 2015 as it mulls the act’s expiration and possible renewal in 2020, Emil Metropoulos, senior vice president and workers’ compensation and terrorism practice leader at Guy Carpenter, told PCI Today. 29 October 2018
Insurance
The US commercial auto market remains challenging for insurers, and vast improvement is still needed, according to a report by Fitch Ratings. 29 October 2018
Insurance
S&P Global’s capital model data on its global reinsurer cohort shows a very significant capital buffer to absorb cat losses. But ratings could still fall following a bad cat year, as Stuart Shipperlee, head of analysis at Litmus Analysis, explained to PCI Today. 29 October 2018
Insurance
Insurers and reinsurers must find a way to plug the protection gap in the US, revealed so starkly in the aftermath of recent hurricanes and especially relating to flood risk, David Sampson, chief executive of the Property Casualty Insurers Association of America (PCI), told PCI Today. 28 October 2018
Alternative Risk Transfer
The prevalence of alternative capital meant the industry’s response to the 2017 losses was very different from the past, with the new capital that entered the industry behaving in a way that was transactional and short-term—and almost desperate in some instances. 28 October 2018
Insurance
Insurers are increasingly baffled by the array of insurtech companies competing for their attention and are struggling to conceive a strategy that ensures they keep track of important developments, while ignoring irrelevant background noise. 28 October 2018
Insurance
Hamilton Insurance is eyeing opportunities in the US small commercial market. This generates some $150 billion in premiums but, as a fragmented market with no dominant players, it is ripe for transformation, according to Pina Albo, chief executive of Hamilton Insurance Group. 28 October 2018
Insurance
The impact of insurtech on the reinsurance industry could be limited in the short term—but that does not mean that investments made now will not bear fruit in the future, Jean-Paul Conoscente, chief executive officer of P&C’s US operation and P&C’s reinsurance business unit, SCOR, told PCI Today. 28 October 2018
Insurance
Industry veteran Ted Blanch has returned to the market with a new venture, a new Florida-focused broker, which he claims will disrupt catastrophe reinsurance with lowered costs and a radically different ownership model. 28 October 2018
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