Reinsurance
Markel Insurance Selling Reinsurance Renewal Rights to Nationwide
In separate announcements late Wednesday, Markel Group and Nationwide revealed that Markel Insurance is running off its global reinsurance business and selling renewal rights to the $1.2 billion book ...
1,000-Year Texas Flood Damage Estimated at $1.1B; Little Insured: Cotality
Cotality, a property data and analytics company, estimates that Central Texas flash floods over the July 4 weekend, which claimed the lives of more than 120 people, also caused $1.1 billion in damage ...
Aon Promotes Reinsurance Leaders as John Neal Takes a New Direction With AIG
Insurance broker Aon announced the promotions of Alfonso Valera as CEO of International for Reinsurance, responsible for UK, EMEA and APAC, and Steve Hofmann as CEO of Americas for Reinsurance, ...
NY’s Hurricane Insured Loss Potential Up More Than 60% as Climate Changes
Insurance industry scientists put the spotlight on Northern U.S. cities in a new research paper about hurricane potential under a warmer climate scenario, finding that New York's insured losses could ...
Officials Estimate 200+ Homes Damaged in Deadly New Mexico Flood
At least 200 homes were damaged during a deadly flash flood in the mountain village of Ruidoso, and local emergency managers warned Wednesday that number could more than double as teams survey more ...
Florida Reinsurance Buyers Found Ample Property Capacity at Mid-Year Renewals
Reinsurers have gained confidence and returned to the Florida market as a result of recent legislative reforms that have transformed the state's risk landscape, according to brokers Aon and Gallagher ...
Reinsurance Renewal Prices Moderate as Capacity Exceeds Cedent Demand: Brokers
Strong returns in the reinsurance sector are attracting capital and leading to favorable pricing outcomes for buyers, but underwriting discipline continues, according to renewal reports from three ...
Middle East Tensions Raise Loss Accumulation Risks: Report
Marine, aviation, cyber, and terrorism insurers face immediate underwriting pressures and potential accumulation losses as a result of heightened hostilities between Iran and Israel, according to ...