Brokers

ILS broker-dealers’ forecast cat bond issuance will range from $8bn to $11bn this year, reclaiming ground lost in 2019 when annual volumes plummeted more than 40 percent year on year.

Intermediaries called the renewal “asymmetric” and “divergent” as rates began to move up after a pressured few years.

Alternative capital made up $60mn of the capacity Tremor priced last year, the company announced.

The broker’s 1st View report highlighted diverging reinsurer tactics and segmented renewal outcomes.

The start-up broker said in an update that it is on track to hit $250mn of premium flow next year.

We have written a bit about how certain (re)insurance business lines, such as retro, are struggling for capacity right now, but another noteworthy development is that some types of structures are also requiring major efforts to shore them up.

Deal pricing mirrors that of Covea’s traditional reinsurance contracts, according to the broker.

John Turner will report to Ed Bermuda CEO Chris Bonard in his new role.

The executive will be taking up the position of chief property officer for US reinsurance.

Aon’s plan to launch an auction platform in time for 1 January 2020 suggests a struggle is underway in the reinsurance space for the position of auction technology market leader.

Some 15 percent of cat bonds on risk will mature in Q2 next year.

The CEO was speaking as Aon launched a new auction platform in Monte Carlo.