Insurance Times’ Post

EXCLUSIVE: CrossCover recruits BHSI’s global property CUO LaPierre amid buildout Learn more👇 https://lnkd.in/gaazJ4M2 MGU CrossCover Insurance Services has beefed up its management ranks with the addition of Berkshire Hathaway Specialty Insurance (BHSI)’s global property CUO Dean LaPierre and other hires as it aims to hit up to $250mn in premium in 2024, The can reveal. #MGA #MGU #Property #PropertyInsurance #PropertyCat #insurance #insurancemarket #insurancenews Scott Hanson

FRIDAY RECAP Released this week on The Insurer TV... 📰 NEWS IN FOCUS James Thaler’s interview with Shawn Ram was released in two parts, with the two going into detail on why the insurtech feels no pressure to maintain its lofty valuation and believes it was warranted, how general IPO market conditions will influence the timing on when Coalition, Inc. might list and potential reinsurance opportunities to deploy Coalition’s model. George’s piece with Emerald Bay Risk Solutions’s Dave Ingrey & Miles Allkins was also published, where our reporter and the head of and the business co-founders speak about their $130 million dollar growth plans, what they had learned from their previous endeavour Spinnaker and the significance of flexibility of MGA’s in the deteriorating casualty space. And released earlier today was George’s interview with REICHARDT NOCE & YOUNG LLC Michael Young about how US insurers face losing attorney-client privilege over claims advice. Watch this interview and the rest of this week’s content here at theinsurertv.com 🎬 FILMED THIS WEEK NEWS IN FOCUS George Abbott spoke to William Pitt about the growth of the MGA space in the US and their growth drivers in other parts of the world and also spoke to MS Amlin’s Chief Underwriting Officer, Martin Burke in an interview focussed on the firm’s great 2023 results, underwriting priorities and his leadership plans for 2024. Sophie Roberts spoke to Nigel Weyman and William Smith about the aviation insurance space, with a particular focus on covering both general and war elements including current trends and market dynamics in both of those areas, and the factors and indeed events that are driving these. The Insurer’s Carlos Pallordet interviewed Markus Gesmann to discuss the key takeaways and trends worth highlighting from the recent report published by ICMR in collaboration with the LMA, the Lloyds 2024 Insights report. CLOSE QUARTER Also filmed this week was an in person interview with Markel International’s Executive Underwriting Officer for Global Property, Guenter Kryszon, CPCU at their headquarters in Virginia where he and The Insurer's Michael Loney discuss the current state of the market. This interview + more to come very shortly… #theinsurertv #theinsurer #fridayrecap #casualtymarket #lloydsmarket #IPO #MGAs

📍 Next Stop: WTW Network's Forum! Mike Patston and Stuart Seager Cert CII (Insurance Broking) are soaking up the stunning views in Evian and are buzzing with excitement to connect as the new Partner Insurer within the WTW Network. They are looking forward to having productive conversations and building partnerships with re-insurers and broker partners. Here are a few pictures they have sent us. #WTWNForum #Partnership #Insurance

EXCLUSIVE: Miller raids Price Forbes for nine-strong London casualty team Learn more👇 https://lnkd.in/gZy9gzeJ London wholesaler Miller has raided Ardonagh Specialty’s Price Forbes for a nine-person casualty unit led by deputy CEO for global casualty Tom Bates and casualty managing director Joe Andrews, The Insurer can reveal. #PeopleMoves #LondonMarket #insurance #reinsurance #insurancemarket #reinsurancemarket #insurancenews #reinsurancenews

Munich Re has increased their profit estimate for the year 2023. Munich Re, one of the largest reinsurers in the world, has increased their profit estimate by 12.5%. The Business Insurance article (linked below) noted "In property/casualty reinsurance, Munich Re reported major losses that were slightly below the expected average". Additionally, global insured losses thru the first nine months of the year are estimated around $88B which is above average but still substantially lower than the 2022 loss amount of $135B. Reinsurer profits being greater than originally expected is a positive sign ahead of January reinsurance renewals. #reinsurance #insurance #property #casualty #munichre #catastrophe

Step into the unknown with Tim Howell. When your passion is diving headfirst off a mountain, you leave nothing to chance. Surface the science of risk with wingsuit base jumper Tim Howell Visit Tim's profile on our website by clicking the link below: https://lnkd.in/dk_2xyzb #Inigo #SurfacetheScienceofRisk #Insurance #Reinsurance #RiskManagement #DataAnalytics #TimHowell #TheLostExit #WingsuitBaseJumper

A useful summary of the building blocks of total return in the #Reinsurance industry, as well as a reminder of the wide dispersion of returns among, arguably, a fairly homogenous peer group. 11% average ROTE against 10% COE unexciting in aggregate, but Hannover Re and Munich Re are stand-out outperformers - no prizes for guessing the (unnamed) underperformers - who are clearly under pressure to up their game (witness SCOR's share price performance today on talk of Groupe Covéa approach, per the Insurance Insider).

BRINDLE'S BACK - WHY NOW AND WHY NAMES? Something you may have let fall into the void of the Easter Break, but should fish out and read in full is this fascinating piece by Adam McNestrie and Ben Wylie at Insurance Insider (sub required). Brindle back to Lloyd's is always a surprise, (it was a total shock last time when Lancashire bought Cathedral in the late Brindle era of 2013) but Brindle back at Lloyd's with Names' backing is much more of a surprise. Lots of questions: Why exactly? Why involve Names when Fidelis has plenty of capital? What does Fidelis balance sheet think about this? What do Fidelis balance sheet shareholders think about it? A natural speculative secondary thought also follows: Now this has happened, surely Convex will be next? All will be revealed, but it's certainly a vindication of the now fully-revived attractions of the Lloyd's platform. #insurance #reinsurance # https://lnkd.in/eUA5fShs

CROWN JEWELS - GO FOR A KNOCKOUT OR GO HOME It is inevitable that any publicly-quoted top-quality asset should attract the periodical attention of much larger potential suitors and Hiscox can be no exception, even with heritage going back to 1901 and being an independent public company since 1997. Hiscox is a unique and impossible-to-replicate business that will surely have to set a new record for premium pricing on Lime Street if it is to change hands. If you're a buyer I'd say you just have to take a deep breath and go straight for a knockout. It's a strategic asset and the control premium has to be something you need to be looking to amortise over a long period, not a quick flip. A messy conflict-laden summer will do no-one any favours. PS. This is certainly another way of Lloyd's going big game hunting - let the big game come hunting within Lloyd's! Scoop of the year goes to Insurance Insider: https://lnkd.in/enzhYEKz #insurance #reinsurance PPS. Full disclosure - I have owned some Hiscox stock since the pandemic.

@Insurance Age spotlights Ventis in this week’s ‘Meet the MGA’ feature (subscription required). This article outlines what motivated me to take the entrepreneurial leap and establish my own MGA. The profile piece also explores what sets Ventis apart in real estate insurance, from our innovative solutions to our rapid service and swift, precise quotes. https://lnkd.in/eiCnKsd5 #insurance #MGA #PropertyMGA #realestate #Underwriting #Ventis