Articles by Susanne Sclafane

Formation of More ‘Class of 2020’ Reinsurers Unlikely

The Class of 2020 already has a new member, but it’s not a true startup, the chair of the company said recently. Speaking at the KBW Insurance Conference in early September, Sid Sankaran, chair of Third Point Re, was referring …

What Ever Happened to Hedge Fund Reinsurers?

The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of …

What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’

Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a broker he knows. “It isn’t a …

Some Reinsurers Will Try Pandemic Exclusions for Casualty at Jan. 1 Renewals

Whether they are convinced that they absolutely need them or not, some reinsurers aim to try to put pandemic exclusions into casualty reinsurance contracts next year, a reinsurance broker representative revealed recently. Amanda Nguyen, U.S. Casualty Solutions Leader for Reinsurance …

Pricing Is Only Bright Spot in ‘Anemic’ Earnings Picture for Reinsurers: Moody’s

Even though investment returns rebounded from first-quarter levels during the second quarter of 2020, claims from COVID-19 created an “anemic earnings” picture for global reinsurers, Moody’s Investor Services says. In a new report on half-year earnings for the sector published …

COVID Business Interruption Suits Top 700 with More to Come

When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last month, the natural question to ask was: Is that a lot? That’s exactly the question that Chris Cheatham, CEO and co-founder of insurtech …

COVID Business Interruption Suits Top 700. Yep, That’s A Lot

When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last week, the natural question to ask was: Is that a lot? That’s exactly the question that Chris Cheatham, CEO and co-founder of insurtech …

Celebrating Insurers Warned Michigan COVID Ruling Not Knockout Punch They Wanted

A recent ruling from a Michigan judge that business interruption claims payouts require tangible alteration to a property may have sounded like a knockout win for the insurance industry but a legal expert has a slightly different take. Tom Baker, …

Reinsurance Capital Dips 6%, Tightening of Capacity Accelerates: Aon

Global reinsurance capital fell 6% to $590 billion for the first quarter of 2020, Aon reported in its June/July Reinsurance Market Outlook report. The report, which also looks at changes in reinsurance demand levels, hot-button reinsurance wording themes and primary …

The Class of 2020: Capital Raising for Existing Firms or Insurance Startups?

Even though accelerating hard market conditions may seem ideal for a growing crop of professionals with designs on starting up insurance and reinsurance companies, garnering AM Best ratings still won’t be easy for newbies. Capital is coming into the industry …