Reinsurance
Guy Carp promotes Hakes to marine, energy and technical lines head
Executive previously led the reinsurance broker’s international marine business
SageSure closes $100m Gateway Re catastrophe bond
Latest issuance will provide carrier partners with protection across a single hurricane season in Louisiana, Mississippi, South Carolina and Texas
UN forum launches global guide for net-zero insurance transition plans
New guide aims to help re/insurers and brokers develop credible net-zero transition plans for underwriting portfolios
New Florida law pares back state property reinsurance
State claws back $2.1bn with reduction of two assistance programmes
Insurance associations question EU public-private reinsurer proposals
Fears one-size-fits-all public-private reinsurance facility could undermine national schemes and risks moral hazard
Gallagher Re hires Aon’s Muñoz to lead global fac
Broker hires industry veteran Pablo Muñoz to drive global facultative growth and strikes deal with Japanese fac partner
Cyber reinsurance rates fall at 7/1
Pricing on aggregate covers falls 15% to 20% amid excess reinsurance capacity and a slowdown in market's organic growth
Russia planes ruling ‘an earnings event’: Fitch
Last month the UK High Court ruled war risk insurers must pay out on trapped planes
Casualty ceding commissions ‘generally flat’ at mid-year renewals
Improving casualty economics led to stable market at the June/July renewals, brokers report
Property catastrophe rates down 5% to 15% at 7/1: Guy Carpenter
Reinsurance capacity exceeds cedant demand more than 20% at key renewal, despite first-half catastrophe losses of $70bn
Rod Fox leaves Howden Re
Departure comes three years after Howden’s merger with TigerRisk, which Fox founded in 2008
Buyer-friendly conditions accelerate at mid-year reinsurance renewals: Aon
June/July renewals characterised by ‘broadly competitive environment’ as reinsurers, ILS markets and new entrants look to deploy capacity and grow market share, global broker says
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