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In the newly created role, Bobby Heerasing will be based in Singapore and report to Monica Cramér Manhem, president of international reinsurance. -
The first pieces of solid risk loss information are coming to light following the storm, for which loss emergence has been slow.
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AM Best sees accumulating cyber risk in the US property market downgrading 18 US property carriers, considering Best’s Capital Adequacy Ratio.
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The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.
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The cyclone made landfall on 11 April, with strong winds affecting 800km of coastline.
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The city’s pension fund recorded a 3% return from its ILS portfolio in 2020.
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The judgment ruled that clauses in insurers’ BI policies covering infectious diseases meant cover was only present for closures relating to an outbreak on assureds’ premises specially.
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Orchid, Accredited partner to expand personal lines capacity in coastal markets amid strain from increasing cat events.
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ILS Capital Management has backed the launch of a new InsurTech incubator, Mltply, which will offer fronting and reinsurance capacity to start-ups as well as venture capital and infrastructure support.
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The lower-than-expected losses so far from Ida do not stack up against what is thought to be a $30bn+ cat event.
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The former Aon US reinsurance president will join the challenger broker in just two weeks.
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Tim Ronda was president of Aon’s US reinsurance business and was recently given a new global leadership role.
