Your weekly re/insurance round-up, ending January 27th 2023

Further details from the renewals emerged this week, alongside the first trickle of Q4 results.

Travelers confirmed it?dropped its aggregate cat cover?at 1/1, after its?income fell by 39%?in Q4.

The company also disclosed the inclusion of?a quota share arrangement?as part of its Fidelis investment.

Conduit Re's owner revealed it?grew premiums by 60%?at renewal and sees more rate growth ahead.

Meanwhile, Swiss Re's Mike Mitchell assured?stresses of the renewal should "disappear"?at April and July.

Firms to report Q4 results included?Guy Carpenter,?AXIS,?Gallagher,?RLI,?W.R. Berkley?and?Selective.

In other major developments, SCOR has?hired Swiss Re CUO?Thierry?Léger as its new CEO, in a move seen as?positive for SCOR and negative for Swiss Re.

Swiss Re CorSo similarly?lost CEO EMEA Fred Kleiterp to Beazley, with?Nina Arquint?to take over the role.

Further appointments saw Simon Richardson tasked to launch Consilium’s?cedant FAC reinsurance unit.

And Howden Tiger also had facultative news, as it?created a new division?to merge its capabilities.

In loss news, Aon reports that natural disasters caused?over $130bn global insured losses?in 2022.

Also, Moody’s RMS estimates $5-7bn of losses from recent California floods, with?up to $1.5bn insured.

Finally, Fitch anticipates Bermuda re/insurers will see?improved pricing & performance?in the coming year.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!