Re/insurers

The four major European reinsurers reported strongly improved results in the first nine months of 2021, despite the heavy toll of catastrophe claims, according to analysis from Fitch.

Ardonagh’s reinsurance business Inver Re has hired former Howden executive Nick Griffiths as a director.

Theo Norris has joined Gallagher Re as a dedicated cyber ILS broker, moving from his Aon Securities role as acting ILS assistant vice president.

Zurich’s cat losses for the first nine months are around $1.5bn, suggesting a lower-than expected contribution from Bernd and Ida which implies the firm may have triggered its aggregate reinsurance coverage, according to analysts.

Climate change is likely to have already driven up insured losses from hurricanes by 11%, and could raise annual windstorm losses by an additional 10-19%, according to the latest white paper from Karen Clark & Co (KCC).

Lockton Re has hired James Boon from Aon to work as a senior broker in the expansive non-marine retrocession and property specialty division.

The return to an in-person event follows two years of forced cancellations owing to Covid-19.

Review of quarterly financial updates released so far shows Bermudian carriers wearing major losses.

The top 21 reinsurers were rated positive on just 9% of factors overall.

The carrier’s primary unit CorSo also bettered its combined ratio by 24.9 points on last year’s figures.

Everest Re CEO Juan Andrade said appetite had gone “very much higher up in structures”.

Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.