Lines of business

It will cover home, motor and commercial property portfolios across Australia and New Zealand.

It said the current threat posed by Tropical Storm Elsa was an example of storms being more likely to hit America’s Eastern Seaboard this season.

The RMS V21 model update for North Atlantic hurricane incorporated data from recent major loss years but overall annual average losses have only risen up to 10% across the US.

The broker said a buoyant ILS market contributed to the reinsurance market nearing a new equilibrium at the end of mid-year renewals.

The rebrand follows a last-minute acquisition of the firm by Aquiline-owned Lloyd’s syndicate ERS, in December of last year.

Just a few months into 2021, the first natural-disaster headlines of the year are already occupying the minds of ILS insurance risk-takers. The snowstorms that brought freezing conditions to Texas will be a challenging event to evaluate for a number of reasons.

Oliver Denbigh had been at Aon since 2012, most recently as a senior broker on its non-marine specialty team.

James Johns will join the firm from Willis after some years at Talbot, while Josh O’Donoghue was at Aon.

May and June people moves included several former Aon retro executives taking on new roles at challenger broker Lockton Re, longtime Credit Suisse executive Marcel Grandi moving to an advisory role at Twelve Capital, and several underwriting moves in Bermuda.

Reinsurers are talking about a new era of elevated risks, but their behaviour may signal a more relaxed view heading into 2022.

Frederick Streeton will join in September from Liberty Mutual Group, where he was head of underwriting strategy for the its global risk solutions business.

Executives including AIG CEO Peter Zaffino, Aon CEO Greg Case and Munich Re CEO Joachim Wenning have joined the task force, chaired by Lloyd’s.