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Scor Global P&C CEO Jean Paul Conoscente said on a briefing that rate hikes were barely keeping up with inflation.
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From ESG to social inflation, systemic risk to cat risk, we highlight some of the top discussions from this year’s four-day virtual conference. -
European cedants are bracing for a ‘sizeable price correction’ after the scale of summer flooding took reinsurers by surprise.
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The 13th named storm of the season made landfall in the Florida Panhandle on Wednesday.
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Natural catastrophe losses were up year-on-year, but without fresh Covid losses the London market returned to profit.
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ICEYE said that nearly 4,000 buildings in Northern and Central New Jersey were impacted by devastating flooding after Ida made landfall and traveled to the Northeast.
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The specialty insurer will lend both admitted and non-admitted paper to other providers.
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The updated loss estimates come on top of the $14bn to $19bn industry loss range the analytics firm provided last week.
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The new entity is backed by Gallatin Point Capital, Vantage Group and RenaissanceRe.
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The ratings agency said that reinsurers were likely to shave several points off combined ratios in 2021 and 2022.
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Kevin O’Donnell also said he saw social inflation as more of a concern for the industry than climate change.
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A reinsurance panel at Reconnect also called for reform of risk models
