Lines of business

Sources close to the industry are calling for litigation reform as a priority, while Florida Hurricane Catastrophe Fund expansion is also on the cards.

It is offering a significantly higher premium than prior-year cat bonds from the state insurer, after it stands to gain $135mn from cat bond payouts linked to Hurricane Ida.

Notices of intent to file lawsuits fell 12%, the first time such notices have fallen since July.

The incoming COO joins from PGGM, where he is currently a director within the credit and insurance-linked investments team.

The reorganisation is one of the first major changes to the reinsurance arm since Nancy Bewlay became CEO of the division.

The issuance is seeking named storm cover in Florida, Georgia and South Carolina.

The specialty P&C carrier is offering high single-digit rates for the cover.

A restructure will see a global product leader appointed for all QBE Re’s business lines.

The firm reserved $40mn for Ukraine, citing ‘small net losses’ in Re & ILS.

RenaissanceRe CEO Kevin O’Donnell explained on an earnings call his take on the mid-year renewals and a relatively low impact of the Ukraine war.

The firm ‘felt very good about consolidating programmes’, at 1 January.

The reinsurer said Q1 large loss events included Oz floods, European storms and a sunken ship.