Property

The flooding that took place in mid-March across Australia’s east coast states was labelled the worst in 60 years.

Trading Risk reported last year that the Aon executive had resigned to join Lockton.

As new regulations on climate risk disclosures are developed, insurance industry argues for a measured approach.

The AJ Gallagher CEO said rate increases are providing tailwinds while the M&A pipeline remains strong.

It estimated that 2021 natural peril claims would be significantly more than its allowance.

The spread fell by 17% from the mid-point of what was initially marketed.

Davies most recently served as head of global Re specialty Bermuda for the firm’s reinsurance division.

The Australian insurer said it received approximately 3,750 claims relating to recent flooding, as the low deductible on its losses implies it may trigger a dropdown or aggregate cover.

The executive will take on the role of chairman of retro, property specialty, Bermuda and market capital.

The new law limits insurer liabilities for attorney fee suits against insurers and reduces time limits for claims.

CPI surged to 4.2% in April, levels not seen since before the Global Financial Crisis.

It is the Blackstone captive’s first foray into the cat bond market.