Hints and tips:
...Excess-of-loss policies dominate the $90bn market for insurance-linked securities, an alternative form of reinsurance that includes catastrophe bonds, which pay out after events such as earthquakes....
...and property catastrophe reinsurance....
...In the filing, IAG alleges that from the middle of 2019 Tokio Marine failed to ensure that its underwriting unit BCC, and the lead underwriter for Greensill, Greg Brereton, kept within the scope of what...
...The report also sheds further light on BCC’s investigation into Greg Brereton, the Australian underwriter who was fired after allegedly insuring Greensill “in excess of his delegated authority”....
...The results, among the first in the insurer earnings season, demonstrated how a mix of inflation and weaker markets were hurting underwriters....
...Its flood reinsurance scheme, by contrast, involves a £180m levy on insurers, which pass the costs on to customers....
...The underwriter was dismissed....
...Tokio Marine investors have chafed at a lack of detail regarding reinsurance arrangements and what exactly the BCC policies covered....
...The insurer also said its potential exposure to the supply-chain finance group was limited because a significant proportion of its Greensill-related risk was covered by reinsurance....
...The underwriter was dismissed. Tokio Marine has declined to comment on its exposure to Greensill....
...For the primary layer, the one that takes the initial hit above the client’s excess, conditions are getting tougher, say market participants....
...Jefferies was one of the top five underwriters, according to Refinitiv. This bodes well for Goldman Sachs....
...Plenum’s most direct exposure to “excess mortality” is a modest position in Swiss Re Vita Capital 2015-1 A Notes maturing in January 2021....
...“Excess” profits go to charity. SoftBank needs to squeeze better returns from more of its investments....
...Instead, Lemonade takes a fixed fee, typically 25 per cent of premiums, while using reinsurance to limit losses from high claims and, in years of low claims, giving excess underwriting profits to charity...
...Prices for the sort of specialist commercial insurance and reinsurance that Convex wants to sell have been falling for years, driven down by an excess of capital in the market....
...This raises the prospect that the underwriters will have to hold some of the debt on their balance sheet, potentially weighing on the banks’ capital position....
...We calculate ~$60bn of excess capital in the industry....
...Although it is still too early for reliable estimates of the cost of the latest fires, early indications are that it could be well in excess of $5bn....
...“I’d love to get the company back to being the underwriter that basically sets the standards in our industry.”...
...Axa, France’s largest insurance group, is in talks to buy XL Group, a Bermuda-based property and casualty insurance company that has a market value in excess of $11bn....
...Morgan Stanley and Goldman Sachs served as lead underwriters on the Zscaler listing....
...After floods devastated Thailand in 2011, for instance, he moved into the market as other underwriters retreated....
...Some insurers are also buying more reinsurance, passing a slice of the risk on to other, larger insurance companies....
...As one Bermuda catastrophe reinsurance executive says, “Assume this is a $100bn loss year for the industry....
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