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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers. -
While funding under a World Bank loan agreement is expected to flow, the 2019 cat bond protecting the nation was not expected to be at risk.
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The ratings agency has proposed a significant change to how it assess insurers’ risk-based capital adequacy.
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The change in plan comes as Lloyd’s restricts cyber growth.
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Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.
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The move comes amid limited availability of annual aggregate cover.
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Noting concerns about rapid growth, the Citizens board approves rate hikes up to the legal limit.
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CyberCube forecast further capital market capacity will hit the cyber insurance market next year.
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The reinsurance broker’s report comes after KCC put a $3bn insured loss estimate on the 10 December disaster.
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The recruit was formerly a portfolio manager at Nephila Capital.
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The firm’s estimate fell at the lower end of the range for historic Top 10 tornado events.
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Aon’s Impact Forecast has suggested that only a limited portion of the loss will pass to reinsurers.
