Property

SCS accounted for nearly two-thirds of global first-half catastrophe losses.

The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.

The InsurTech claims five former staff, including the CEO and CFO, forged signatures and impersonated bank staff.

A Delaware judge has ruled in favour of Vesttoo’s automatic stay in the bankruptcy case.

Data from the broker indicated that around 70% of global losses were driven by SCS, with events in the US causing $35bn of insured losses over H1.

However, most P&C insurers will still miss their cost of capital targets and as a result, rate hardening and capacity constraints are expected to continue into 2024, according to Swiss Re.

Morrison spent four years as an underwriter at Securis before moving to Aeolus in 2018.

The supply-demand dynamics are all pointing in ILS markets’ favour, so long as hurricane season goes quietly.

Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.

The pressure on catastrophe terms and conditions seen at the January 2023 renewals will likely not be repeated as renewals get more orderly in 2024.

The ratings agency said the improvement was a result of “high pricing discipline driving a hard market, rising investment yields and a strong demand for reinsurance protection”.

Radford joins after spending two years at Aon’s Capital Advisory business.