Hot Topics
Brexit
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PRA proposes changes to third-country insurer rules
Under proposed changes branches will be able to hold £600m in liabilities without becoming subsidiaries
Continental marine brokers overcoming Brexit disruption: Alta Signa
Loss of Bayesian will have market effect beyond super-yacht niche, Francesco Dubbioso, MGA's head of technical underwriting, marine, says
PRA publishes post-Brexit policy for foreign insurer branches
New guidelines give more detail on how regulator will examine reinsurance arrangements
Broker Facilities
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Aon renews Client Treaty facility for 2026
Broker expands Lloyd’s cross-class facility to include facultative reinsurance clients and aviation and space offering
Marsh launches Cyber Echo Encore facility
Broker adds London company market capacity to enhance its original Lloyd’s-backed Cyber Echo facility
Aon expands Client Treaty facility
Global broker secures three new capacity providers to flagship facility, which will now offer 28.5% co-insurance across core lines of business
Cyber
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Cyber reinsurance pricing softens at 1/1
Abundant capacity and manageable loss environment further tilt supply-demand dynamics in favour of cedants
States call for creation of Maritime Cyber Code
A group of 38 countries and the biggest shipping industry bodies are backing a call for the IMO to develop a new Maritime Cyber Code to make the fight for cyber security more consistent
Cyber insurers ‘overly concerned’ about war: Markel’s Burgess
While some insurers have introduced exclusions for indirect cyber war exposures, Markel has decided to offer affirmative cover
Market Modernisation
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Beazley names Cross head of digital follow underwriting
Cross will be responsible for all algorithmic and digital distribution channels at London market heavyweight
Digitalisation efforts should focus on ‘quick wins’ in 2026: LMA
Lloyd’s Market Association urges the market to focus on smaller, peer-to-peer technology initiatives next year
McGill and Aegis form digital partnership
Initiative uses algorithms to automate quote and bind process across multiple lines of business
Resilience
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Climate change demands a whole-of-society approach: Bacani
United Nations Environment Programme’s head of insurance describes how the House of Insurance at the climate talks in Belém will stand as a symbol of inclusiveness, resilience, sustainability, and hope
UN forum proposes insurance taskforce for climate talks
The Forum for Insurance Transition has presented its recommendations for the role re/insurers play in the transition to net zero
Insurer pressure not driving climate adaptation
Three-fifths say they spend enough on climate mitigation
Solvency II
Empowering underwriting with actuaries on the frontline
Through own risk solvency assessment reporting, insurers gain an understanding of exposures and capital positions, and actuaries can better assess unusual risks often misunderstood or oversimplified by standard models
Captives in the spotlight around the world
There is increasing demand for captives globally, but the specific regulatory and market conditions in each country create a diverse and dynamic landscape
New risk environment calls for a holistic approach: Ferma president
Charlotte Hedemark stressed the increasing focus on building organisational resilience, not only mitigating risk
Insurtech
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Insurtech funding flows stabilising
Global insurtech funding falls to $1.01bn in the third quarter of the year, as investors shift from 'high-risk bets to a more balanced approach', Gallagher Re says
Munich Re shutters venture capital arm
German giant to merge Munich Re Ventures into asset management business MEAG
Coalition launches cyber product in France
Active insurance aims to help French policyholders identify, mitigate and respond to emerging cyber threats before they escalate into major attacks
Diversity
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LMA warns of declining female underwriting talent pipeline at Lloyd’s
Lloyd’s and LMA hold women’s underwriting summit as data shows just 18% of chief underwriting officers are female
Eiopa publishes new insurer board diversity guidelines
Solvency II diversity rules require gender balance plans
Turning neurodiversity conversation into action
Neurodivergence is a natural variation of the human brain, not an illness or deficit
Monte Carlo
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Westfield Specialty will grow where it can find talent: Kuhn
Specialty insurer recently entered accident and health and fine art and specie lines
Scor to launch global fac unit
Paris-based reinsurer sees ‘huge’ potential opportunity in facultative business
No nat cat peril is ‘uninsurable’: Karen Clark
Improved models are creating new opportunities to cover severe convective storms and wildfire, modelling expert says
Baden Baden
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Baden-Baden meeting returns to in-person format
Further details about organisation of event to be released in July
Focus: Clarity over coverage is critical as Covid-19 casts shadow over January renewals
With negotiations underway, the reinsurance market must develop a common language for Covid-19 type exposures
Focus: Trust is essential to navigate the hard market
By understanding the risk and realistically pricing for the exposure, a mutually beneficial relationship between reinsurer and cedant can be maintained
Renewals
Casualty reinsurance renewals see modest price declines outside US
International casualty pricing down between 5% and 10% at January 1 amid ample capacity, brokers report, with market dynamics stable in US
Property catastrophe prices to fall 15% at 1/1: Moody’s
Some erosion in terms and conditions emerging as capital supply favours buyers, rating agency says
US property reinsurance quotes coming in 5% to 10% down: Acrisure Re's Piccione
US market is seeing large influx of capital, but underwriting discipline expected to remain firm, senior broking executive says
Hurricane Season
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Jamaican parametric protection extended to households
CCRIF SPC’s new parametric insurance product aims to safeguard vulnerable communities after storms, hurricanes and extreme rainfall events
Jamaica cat bond will pay out in full, World Bank says
Major modelling firms put insured losses between $1bn and $5bn
Moody’s puts Melissa losses at $3bn to $5bn
Melissa 'truly a generational event for Jamaica'
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