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Guy Carpenter chairman and reinsurance industry heavyweight Britt Newhouse is set to retire at the end of the year, sister publication The Insurance Insider revealed.
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Retro market sources said that capacity shortages would not be a factor in the January renewals after ILS managers reloaded lost capital, but that uncertainty over underlying reinsurance repricing was contributing to a stand-off
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Canadian institutional investor Caisse de dépôt et placement du Québec (CDPQ) will invest $400mn in Hyperion to take a significant minority stake in the firm, in its second major insurance broking investment of the year.
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Ascot is launching a Bermuda-based reinsurer with $1bn of funding from the Canada Pension Plan Investment Board (CPPIB) that will be led by John Berger
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US property insurers are pushing for base case rate increases of 10-20 percent on catastrophe-exposed business, even for loss-free accounts, according to a client advisory from broker Lockton
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Brokers are pressuring ILS managers to stump up capital well ahead of the 1 January reinsurance renewal date following the string of third quarter catastrophe events, according to sources
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The 2017 catastrophe events have highlighted the extent to which ILS managers are benefiting from industry loss warranty (ILW) hedging, but market sources have questioned where the losses will ultimately fall as more clarity is gained over HIM claims in months to come -
Swiss Re has hired Jordan Brown from GC Securities as a vice president and ILS structurer
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Carsten Thienel has left Ed and will join JLT Re Asia Pacific, based in Singapore. Thienel has experience in multiple asset classes, including ILS and retro. He will be reporting to Stuart Beatty, CEO of Asia Pacific, as well as Bradley Maltese, deputy CEO of UK and Europe
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Simon Gander, one of the most senior staff at Aon Benfield in London, will leave the reinsurance broker at the end of the year, The Insurance Insider reported
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Willis Re has hired Adam Schwebach from rival Guy Carpenter, where he was a senior vice president, sister title The Insurance Insider revealed
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The Blockchain Insurance Industry Initiative (B3i) has begun market testing its smart contract management prototype for property cat excess-of-loss (XoL) contracts this month, as 23 new members join the collaboration
