Howden
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The ILS services specialist has worked in the ILS market in Bermuda for 10 years. -
Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
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The awards celebration took place at the Hilton Bankside on 25 June.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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Property cat XoL rates were off by around 10% on average on a blended risk-adjusted basis.
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The company is a wholly owned subsidiary of AmTrust Financial.
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The renewal and upsizing of the Trouvaille E&S sidecar highlighted the market’s potential.
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The acquisition expands its global employee benefits business to ~4,000 global employees.
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The London D&F market will shoulder most of the losses.
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Kusche and Rosenberg will co-lead the firm’s global ILS business.
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Paul Poschmann joins from Gallagher Re, where he was a divisional director.
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Cat bonds were a key supply-side driver at 1 January 2025.
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In the best-case scenario, a Big Bend-landing storm could cost $3bn-$5bn, Howden Re said.
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The executive has held senior alternative capital roles at Aon and Guy Carpenter.
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The firms’ partnership preceded Japan's first ‘megaquake’ warning.
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Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.
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The broker is entering the Japanese market with a focus on ILS.
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Sébastien Bamsey joins from JP Morgan, where he has worked for 18 years.
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Additional capacity for upper-layer coverage is driving rate reductions, the broker says.
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Various trends may work together to hold the cat markets up for longer than some had feared.
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Diversification in perils and regions can help the market grow.
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This follows the broker's rebrand in October last year.
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Arm is based in Guernsey and has a Bermudan management licence.
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Typical ILW attachment points for US peak perils have fallen from $60bn to $40bn-$50bn as the market awaits the final Hurricane Ian number from PCS.
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Improving the speed and efficiency of settlements is required to help the market grow.
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Of $17bn that entered the market in the 15 months to 31 December, 40% was channelled into ILS vehicles.
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The broker said global cat rates rose 3% in the 1 January reinsurance renewals.
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The executives will look to bring the company’s full suite of products to clients.
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The 30-strong segment will combine reinsurance and capital markets with data, analytics and technology.
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She joins after over four years at Securis, where she was head of investor relations and business development.
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European and Bermudian reinsurers are expected to be the most favorably affected by the current environment.
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Radford joins after spending two years at Aon’s Capital Advisory business.
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The broking firm’s (re)insurance market update said growth in alternative capital is a now a permanent feature of the market.
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The broker said that capital levels should stabilise at previous levels, given a normal second half.
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Some cedants paid more than 40% increases depending on Florida concentration and Hurricane Ian losses.
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Minesh Jani will report to Bradley Maltese, CEO of international and global specialties.
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The intermediary recorded “one of the hardest reinsurance markets in living memory” as primary rate increases slowed.
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Tension is emerging at the reinsurance level over the retrenchment from all-perils coverage, which previously offered ‘sleep-easy protection’.
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The correlation between a good ESG score and low loss ratio is strongest in property insurance, the report shows.
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David Howden said insurance protection made the global north more able to respond to catastrophes.
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The product protects firms buying carbon credits from third-party negligence and fraud.
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Bowood managing director Stephen Greener will chair the entity, which is to place $6bn in GWP.
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The appointment to the ILS unit follows news of Howden’s move to buy TigerRisk.
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The broker said the developments could have “huge implications” for capacity, pricing and the market cycle.
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Mary O’Connor joins from KPMG, where she was acting CEO.
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After securing a $1.6bn deal to acquire TigerRisk, Howden said the transaction will create a “much-needed fourth global player” in reinsurance.
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Sources indicated talks have been conducted using an adjusted Ebitda figure for TigerRisk of around $85mn-$90mn, which is far higher than previously thought.
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A takeover would boost Howden’s burgeoning reinsurance portfolio.
