Insurance archive
Every Insurance story, newest first. 384 stories
5 stories
- The Wrap
The soft market's real restraint is a bordereau queue
Convex would write more delegated business if it could process the files, and that ceiling will do more to set January's terms than any rate.
- Insurer portfolios
Gundlach's hold call is an insurer duration problem
Gundlach's webcast a week before the FOMC puts the general account's next duration decision on the long end of the curve, where a hold does the repricing.
- Cat bonds & reinsurance
The January test has moved to specialty lines
With property-cat pricing softening, the discipline test now runs through specialty lines — and Conduit's retreat up the tower is the tell.
- Cat bonds & reinsurance
Bermuda's delegated-underwriting push hits a bordereaux bottleneck
Convex runs a fifth of its business through MGAs and MGUs and says it would write more — the ceiling is administrative, not appetite.
- Insurer portfolios
Growth equity's insurance pitch runs into the capital charge
The size of an insurer's growth equity sleeve will come from the RBC text, not the return deck.
10 stories
- Cat bonds & reinsurance
September's storm losses land on cedents, not on cat bonds
A loss that settles inside retentions leaves the capital markets alone and hands primary carriers one more exhibit for the January attachment argument.
- Insurance Credit
Voya pitches fund finance as the general account's J-curve fix
Voya's private credit ABF desk argues that lending to funds delivers similar returns with less ramp than an LP stake, leaving insurers to underwrite the risk claim themselves.
- Insurance Credit
Private credit's "one corner" defense reaches the insurance channel
Principal is asking insurance general accounts to accept a distinction the published version of its argument doesn't yet draw.
- Insurer portfolios
StepStone calls a real estate bottom; the properties will say if it's right
The house view gives general accounts a level to argue with, but the entry decision lives in which properties are being forced to market and why.
- The Wrap
Strategics are taking insurance control, and sponsors are the sellers
Samsung's move toward 90% of Canopius, JAB's Columbian conversion, and Corebridge-Equitable's cleared merger all point one way: permanence is the premium.
- Cat bonds & reinsurance
Lowell's Hawaii loss tests wording, not reinsurance capital
A single-firm insured loss estimate sits below the level that moves cat capital, leaving the wind-flood boundary as the thing to watch.
- Insurer portfolios
Onshore admitted assets grow $400 billion; sidecars compound five times faster
U.S. life/health admitted assets rose 4% to $10.31 trillion in six months; Bermuda's sidecar book compounded roughly five times faster.
- Insurer portfolios
NEAM reads July's hawkish minority as a general-account warning
Three members voted to hike, and payrolls have since averaged 20,000. For insurers, the question is what the next maturing bond buys.
- Cat bonds & reinsurance
Bermuda's life reinsurance lead is a capital-rules story
The NAIC's jurisdiction-risk charge, once drafted, will put a price on the Cayman gap Fitch currently describes only as a transparency problem.
- Cat bonds & reinsurance
The discipline test now runs through the investment portfolio
BCG's call for underwriting discipline lands on a sector whose returns now depend more on its fixed-income book than on the risk it underwrites.
4 stories
- Cat bonds & reinsurance
Arthur Re's three deals say cat bond friction is the constraint
Three placements through one Bermuda vehicle in three months make Gallagher Re's case that the cat bond market's binding constraint has moved from investor appetite to the cost of getting a deal done.
- The Wrap
A capital charge puts Bermuda's $375 billion sidecar stack on trial
The NAIC's instruction turns jurisdiction risk from a checklist into a capital charge. Bermuda's recognition now depends on whether its collateral can answer.
- The Wrap
The calm that builds the next wave
Reinsurance is loosening terms, not just price, and the failure record says the quiet is when solvency erodes.
- Insurance regulation
PACICC's 1,273 failures arrive in bursts after calm stretches
The catalogue's burst-by-burst record argues for capital rules written in the calm, when the next wave is built.
10 stories
- The Wrap
Willis Re taps Conduit cofounder Eckert as CEO
Eckert leaves a Bermudian balance sheet he built to sell capital insight from the broker's side.
- Cat bonds & reinsurance
Fitch: 2027 reinsurance softening moves past price into terms
With capacity outrunning demand, reinsurers are expected to give up attachment points and coverage. Casualty sidecars will test whether the discipline of the hard market survives.
- Insurance regulation
Corebridge-Equitable merger clears approvals; year-end close is the test
Approvals in hand, the $22 billion tie-up's real deadline is the Dec. 31 close.
- Insurance regulation
AM Best drops Farm Bureau P&C's negative outlook
The group's A (Excellent) ratings stand as the downgrade warning is retired.
- Insurance regulation
TRIP renewal confirms the terrorism tail still sits beyond private capital
The House voted 373-15 to extend the federal backstop through 2034, a fifth admission that deliberate attack cannot be modeled as private risk.
- The Wrap
Markel hands Gayner the chairman's seat and splits the presidency
Steve Markel retires as chairman after more than 50 years, leaving Tom Gayner as chairman-CEO and a new Leadership Council charged with reviewing strategy, performance, and capital allocation.
- Cat bonds & reinsurance
Cedar Trace's $300m Lloyd's syndicate forms a Bermuda capital loop
Existing Mereo shareholders and Cedar Trace ILS investors are expected to back the 2027 syndicate, making the launch a test of whether affiliated capital underwrites like balance-sheet money.
- Insurance regulation
NAIC moves jurisdiction risk from checklist to capital charge
A memo from the NAIC National Meeting instructs the Life Risk-Based Capital Working Group to develop a capital charge for cessions outside reciprocal jurisdictions, putting the Cayman gap in the capital formula and turning Bermuda's earned recognition into a capital advantage.
- Cat bonds & reinsurance
Swiss Re: cat lull is luck, not a license to cut
As Rendez-Vous approaches, the reinsurer is pointing to a 5%-7% long-term loss trend and a $320 billion tail scenario to argue that January renewals should be priced on risk, not on the last two quiet years.
- Insurance regulation
JAB closes Columbian rescue with a mutual-to-stock conversion
The 144-year-old insurer exits rehabilitation as a stock company under JAB's permanent capital, giving regulators a model for the next rescue.
10 stories
- Insurance Credit
Q2 credit rally brings yield, not diversification
Public and private credit can hide a single refinancing risk even as spreads retrace, an Insurance AUM Journal review warns.
- The Wrap
Conduit reaches outside for CEO as Bermuda book faces repricing
An Aspen Insurance executive will take over as Conduit's CEO, a hire that reads as a mandate to rethink the book.
- Cat bonds & reinsurance
A Toronto storm puts a regional price on soft terms
Gallagher Re sizes the Sept. 2 event at hundreds of millions of dollars — small enough to leave ILS capital unmoved and local enough to sharpen Canadian renewal conversations.
- Insurer portfolios
Sub-$250m carriers are the center of gravity in outsourcing
NAIC data shows penetration up only a tick, but two-thirds of outsourcers are small insurers handing one manager the whole general account.
- Insurance regulation
TRIA's 2034 extension hides a sharper 2029 test
The House would keep the terrorism backstop alive through 2034 and raise the certified-loss threshold to $10 million in 2029, leaving smaller events to the industry's own balance sheets.
- The Wrap
Vantage installs Arch actuary as CRO ahead of growth push
The hire puts a Bermuda-seasoned risk chief in the seat just as Howard Hughes pushes the reinsurer to grow.
- Cat bonds & reinsurance
Health reinsurance's $203 billion structure test
Ceded U.S. health premium has more than tripled since 2016; the harder question is what contract terms the growth was built on.
- Insurer portfolios
Berkshire’s Alphabet stake is a bet on the power underneath AI
Greg Abel ties the $37.8 billion position, plus $10 billion more taken at a discount, to data-center electricity demand—the constraint the credit side of the AI trade turns on.
- The Wrap
Compre's annual reset turns legacy cover into a repricing test
The first renewal in 2027 will show whether Compre holds pricing discipline or gives back terms.
- Insurance regulation
Aegon's US redomicile leaves $800m in Bermuda capital behind
The parent holding company shifts to US regulators while two Bermuda units stay under BMA watch.
1 story
- Cat bonds & reinsurance
Compre's Lloyd's retro deal: an option on the long tail
The £200m structured adverse development cover is built around annual repricing, which makes the first renewal the real underwriting event.