David Flandro News

January Renewals Saw Some of Sharpest Price Hikes in Recent Years: Howden

Lower investment yields, adverse catastrophe loss development, higher loss cost trends, concerns over climate change, and, of course, the pandemic coalesced to bring some of the sharpest price increases in recent memory during the Jan. 1 reinsurance renewals, according to …

The New Digital Normal and the Future of Work in Reinsurance

It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful scramble to conduct its business digitally at the onset of the COVID-19 crisis. This digital transformation is creating a new …

COVID-19 Crisis Reveals Contract Clarity Lessons, Digital Opportunities: Flandro

In every crisis, lessons must be learned, but opportunities also are revealed. And so it goes with the COVID-19, which has shown the need for contract certainty in the re/insurance industry, while at the same time providing an impetus toward …

Guy Carpenter Forms New Division, Makes Post-JLT Merger Leadership Appointments

Reinsurance broker Guy Carpenter & Co. announced the formation of a new Global Capital Solutions Group as well as a series of leadership appointments that will become effective upon the closing of the acquisition of Jardine Lloyd Thompson Group plc. …

Reinsurance Prices Drop – Despite 2018’s Big Natural Catastrophe Losses: JLT Re

JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second straight year of big losses. Reinsurance prices, chiefly set in …

JLT Re Partners with Cyber Risk Modeling Platform, CyberCube

JLT Re, the London-based reinsurance broker and consultancy, announced it has formed a partnership with CyberCube, the cyber risk modeling platform. JLT Re’s existing cyber and enterprise modelling tools, combined with CyberCube, will provide unique insights to help clients manage …

Natural Catastrophe Claims in 2017 Reached a Record $135B: Munich Re

The insurance industry will pay record claims of US$135 billion from last year’s spate of natural catastrophes, according to a report published by Munich Re. Further, Hurricanes Harvey, Irma and Maria (HIM), the Mexico earthquakes and wildfires in California created …

Insurtech Firms Often Help, Not Disrupt, Traditional Reinsurers: JLT Re

A wave of insurtech startups are entering the re/insurance market – but that’s not necessarily a disruptive trend, according to a report published by JLT Re. Indeed, the report points to close collaboration between many new insurtech companies and established …

Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report

Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell by 5.1 percent this year. This …

RIMS 2017: Why Cyber Should Be Treated as Standalone Insurance

Treating cyber risk as a standalone insurance market holds the promise of unlocking the potential for meaningful coverage for both insurers and buyers, according to a new report by JLT Re and JLT Specialty Limited. According to the report released …