Reinsurance News
Casualty reinsurance
Casualty reinsurance provides insurers with protection against large, unexpected losses from liability-based risks.
Casualty lines of business include claims arising from legal responsibility for injury or damage to others, including auto liability, medical malpractice, D&O (Directors & Officers), as well as product liability, errors and omissions (E&O), and many more niche liabilities.
The casualty reinsurance market is a significant component of the global reinsurance market and its risks have a far longer-tail than many catastrophe or specialty lines.
As such, casualty reinsurers are highly specialised and the casualty market also makes use of run-off and legacy reinsurers, to enable them to gain finality on elements of their casualty reinsurance portfolios.
Read all our casualty reinsurance news below.
Aon’s Reinsurance Solutions adds co-leaders of UK & Ireland and Specialty Casualty
24th October 2019
Aon's Reinsurance Solutions segment has announced the appointment of Dean Jenner and Richard Evans as co-leaders of its UK & Ireland and Specialty Casualty business. Both Jenner and Evans will report to Peter Stubbings, Reinsurance Solutions' Chief Executive Officer (CEO) of Global ReSpecialty, and will work with a leadership group of ... Read the full article
Casualty markets undergoing abrupt shift to profitability: Lockton
14th October 2019
Pricing adequacy has continued to increase across the US casualty re/insurance market, with some lines undergoing an abrupt shift to a renewed focus on profitability, according to global re/insurance brokerage Lockton. The umbrella and excess casualty markets in particular have seen a positive turn, Lockton said, with carriers now demanding higher ... Read the full article
Re/insurance opportunity as mass tort litigations escalate: Praedicat CEO
3rd October 2019
With mass tort style litigations reaching new highs in 2019, insurance and reinsurance companies should increasingly be thinking about how to capitalise on this emerging opportunity, according to Robert Reville, CEO of insurtech risk modelling and analytics firm Praedicat. Speaking at the Reinsurance Rendezvous event in Monte Carlo, Reville explained that ... Read the full article
Hamilton recruits Head of Casualty & Specialty Reinsurance from Third Point Re
1st October 2019
Bermuda-based re/insurer Hamilton Insurance Group has announced the appointment of Steve Wilson as Senior Vice President (SVP), Head of Casualty & Specialty for its new US reinsurance platform. Wilson joins Hamilton from Third Point Re, where he most recently served as SP Underwriting. Prior to this he spent over 11 years at ... Read the full article
AmTrust E&S launches Excess Casualty division in LA
24th September 2019
A subsidiary of AmTrust Financial Services, AmTrust E&S Insurance Services, has announced the launch of its Excess Casualty underwriting unit, based in Los Angeles (LA). The new division will expand the firm's product offerings of E&S and will write excess liability, both supported and unsupported in all 50 states, with limits ... Read the full article
Re/insurers reacting as “cracks” appear in casualty market: Peel Hunt
19th September 2019
Analysts at Peel Hunt have suggested that re/insurers are increasingly pushing for rate increases and management actions as “cracks” begin to appear in the casualty market. A new report by the firm noted that casualty claims trends have continued to deteriorate, triggering ongoing rate increases across US professional lines, a core ... Read the full article
Casualty market disconnected from previous cyclical change: Newman, Willis Re
13th September 2019
In casualty lines of business the reinsurance tail is no longer wagging the primary dog, as the market has disconnected from previous cycle changes, according to Andrew Newman, President of Willis Re. In an interview with Reinsurance News, Newman discussed current dynamics within the casualty reinsurance market and underlined primary insurers’ ... Read the full article
Clyde & Co adds Estelle Machell to casualty insurance team
13th September 2019
Global law firm Clyde & Co has announced the appointment of Estelle Machell as a partner in its casualty insurance team. Machell most recently worked at Keoghs, but previously spent nine years at Clyde & Co before leaving in 2013. She specialises in large loss catastrophic injury and major bodily cases, and ... Read the full article
Hudson Insurance recruits head of wholesale casualty unit from Navigators
10th September 2019
Hudson Insurance Group has appointed of Joseph Savarese to lead its wholesale casualty business unit, encompassing both primary general liability and excess liability. Savarese most recently served as president of the primary casualty department at Navigators Specialty Insurance Company. He has decades of experience in the industry, with previous roles covering primary ... Read the full article
Everest Insurance bolsters Excess Casualty team
15th August 2019
Everest Insurance has bolstered its Excess Casualty team with the appointments of Rey Haliti as a Director and Auberson Eustache as a Manager. Haliti spent over 5 years at Chubb as an Assistant Vice President, Excess Casualty. He previously worked at AIG as a Senior Underwriter and began his career as a ... Read the full article
Argo warns of $32.5m casualty reserve impact & accident year losses
26th July 2019
Global specialty re/insurer Argo Group International Holdings Ltd. has revealed an expected $32.5 million hit to its second-quarter results, largely driven by reserve increases for its casualty business, as well as some current accident year losses as well. Argo warned that its second quarter of 2019 results will be impacted by ... Read the full article
Praedicat recruits Grant Dewar as VP for Global Industrials
24th July 2019
Praedicat, a risk analytics company for casualty insurers and global industrial firms, has announced the appointment of Grant Dewar as Vice President (VP), Global Industrials. Grant’s previous roles include four years as Chief Operating Officer (COO) for the EMEA Insurance Group at FIS, where he was responsible for driving growth in ... Read the full article
Sompo International to utilise casualty analytics platform from AIR Worldwide
19th June 2019
Bermuda-based property and casualty re/insurer Sompo International has begun using Arium, the casualty analytics platform from AIR Worldwide, to better understand and quantify its liability and loss potential across multiple commercial liability lines. As part of the collaboration, AIR is also offering portfolio data coding services to Sompo International that include ... Read the full article
Loss creep on casualty lines hardening rates across all sectors: AmWINS
30th May 2019
The continued deterioration of loss development on casualty lines has driven market hardening to a greater degree than was originally projected, according to analysts at specialty insurer AmWINS. The group’s State of the Market report for Q2 2019 noted that firming has spread out from segments such as New York construction, ... Read the full article
AXA XL promotes Marc Bertha to lead U.S East Region Multinational Casualty team
20th May 2019
AXA XL has promoted Marc Bertha as team lead for the U.S Eastern Region Multinational Casualty group, based in New York. He will be tasked with leading the region’s underwriting team as they partner with new and existing clients in the management of complex international risks. Bertha joined AXA XL in 2013 ... Read the full article
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