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JLT Fac Market Update - Issue1 - 2018 PDF
JLT Fac Market Update - Issue1 - 2018 PDF
JLT Fac Market Update - Issue1 - 2018 PDF
Market update
2018: Issue 1
Introduction
Time flies, and it is hard to believe that JLT Fac is now two years old. As we look back on
2017, we can reflect on what a remarkable year we have all just been through as an industry.
What has been of particular note is that the Insurance market has demonstrated its resilience
in the face of extreme adversity and most importantly its ability and alacrity in paying claims.
After all, that is why our clients buy insurance/reinsurance and we have had the perfect
opportunity in 2017 to show the benefit that our broad suite of products offer in rebuilding after
an extreme event.
Whilst there are some who are both surprised and somewhat disappointed that the mutliple
events of 2017 have not produced the anticipated turn in the market, it is a good testament
to the future that we witnessed swift and committed reloading of capital and that new capital
continues to invest in our sector.
2018 will undoubtedly prove to be a pivotal year for many companies and syndicates and
we can only hope that the meteorological conditions are somewhat kinder to everyone. We
expect to see continued M&A activity, as well as increased moves towards purpose built
Sidecar vehicles (SPS’s) and MGA’s.
Facultative products will continue to play an important part in our clients need going forward
and JLT Fac is perfectly placed to add value and innovation. We would like to thank you all for
your continued support and engagement with our highly skilled and professional team and we
look forward to continuing to provide you with effective solutions during the course of 2018.
ANSER.
ANalytic Software for the Evaluation of Risk.
ANSER is a bespoke, user-friendly and KEY BENEFITS include:
full service suite of tools. The flexible, • D
ynamic - our clients select the tools
adaptable platform can meet your needs required to suit their individual needs
now and in future. Underpinned by Ultimate
• U
ser friendly – desktop ready, easy to use
Risk Solutions (URS) the market-leading
platform
independent financial ECM software firm.
• S
calable – the suite of products can keep
pace and grow with our clients
ANSER can be used for pricing, portfolio
modelling, reserve analysis and predictive • F
lexible – an agile toolset which can be
modelling. It includes rating agency, added to or adapted to changing technology
regulatory capital, franchise value and • A
dding value - designed to create
strategic expansion (STEM) modules. You value and aid business decisions
choose the building blocks you need to give • Integration - can be integrated
powerful insights and competitive advantage. with other/existing analytics tools
140 400
120 350
USD billion (inflation-adjusted)
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20 50
0 0
2017E
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• 2017 is the second costliest year ever for Natural • Hurricane Maria was one of the most rapidly
disasters intensifying hurricanes on record – going from Cat 1
to Cat 5 in 15 hours
• Hurricanes Harvey, Irma & Maria (HIM) insured
losses are expected to reach almost USD 100 billion • The 2nd most expensive 2017 event was Hurricane
with economic losses of USD 200 billion Irma with insured losses of USD 30 billion
• There were 710 relevant catastrophe loss events • The Tubs California wildfires in October, currently
recorded by Munich Re NatCat Service estimated at over USD 11 billion, caused the highest
insured wildfire loss in US history
• 93% of insured losses emanated from the USA,
Caribbean and Central America with 13 events of • More than 45 million people were affected in the
over USD 1 billion each floods in India, Nepal and Bangladesh in June -
October 2017 with economic losses of USD 3.5
• Severe thunderstorms in the US made up billion, but insured damage was virtually nil
approximately USD 20 billion of insured losses
• Man-made disasters totalled USD 5 billion (down
• River flooding and flash floods accounted for 47% from USD 8.38 billion in 2016)
of loss events
• 2017 global Energy losses reach more than
• Fatalities were 10,000 down on the 10 year average USD 4 billion
of 60,000 and 30 year average of 53,000
• The largest man-made loss was USD 2 billion
emanating from a major refinery fire in UAE
Sources: JLT Re, Munich Re, Inside Fac, Insurance Insider, Insurance Journal
Market Movements
• Bob Patten joins Hamilton Syndicate Munich Re Australia (Sydney)
• Richard Wynn leaves Nexus Underwriting • Adi Salleh joins Samsung Re Singapore from
Samsung Re Korea
• Andrew Pooley joins Liberty Specialty Markets
• Fay Cho moves to Korean Re Singapore from Korean
• Imogen Bland leaves QBE Europe to join Aviva Re, Korea
• Ben Morris leaves Argo Singapore
UK TERRORISM
• Jun Lee leaves Zurich Singapore for QBE Singapore
• Jonathan Powell leaves Acappella Syndicate to join
• Sihao Wu leaves Chubb Singapore
CNA Hardy Syndicate
• Ben Schindler leaves Gen Re
• Louise Bessant (previously CNA Hardy Syndicate)
joins Acappella Syndicate • Raymond Chai joins Axa Singapore from Axa Hong
Kong
• James Hannan leaves Antares Syndicate to join
Starstone Syndicate • Andrew Crampton leaves Kuwait Re for Woodleigh
Underwriting.
• Amy Henry leaves Antares Syndicate to join
Starstone Syndicate • Kugan Sethuraman leaves Hannover Re KL for
Berkshire Hathaway
• Gregg McPhee leaves Neon Syndicate
• Ibrahim Ismail retires from Starr International KL
• Jennie Beard leaves Canopius Syndicate to join
Liberty Syndicate • Laura Clarke moves from AWAC London to AWAC
Singapore
• Chris King joins Apollo Syndicate as Head of Crisis
Management • Gerrie Johnson leaves AIG Sydney to join Talbot
Australia
• Brian Stonehill leaves CNA Hardy Syndicate
• Pete Cowan leaves Chubb Sydney to join AIG
• Wesley Selwyn leaves Beazley Syndicate to join
Sydney
Antares Syndicate
• Spencer Pimley leaves CGU Sydney to return to the
• Tom Goodman leaves Standard Syndicate to join XL
UK
Catlin Syndicate
• Dwight McPherson leaves QBE Sydney
• Ed Roffey joins Hamilton Syndicate from Willis
Towers Watson • Michael O’Leary relocates from Chubb Sydney to
Chubb New York
UK CYBER • Cara Doherty leaves Chubb Sydney to join Berkshire
• Robert Hannigan joins Hiscox Syndicate from GCHQ Hathaway
• Alec Jomaa leaves CFC Underwriting to join Tokio • Paul Nangle leaves Berkshire Hathaway to join
Marine Kiln Liberty
• Aspen name Josh Ladeau as Global Cyber Team • Addy Sharma leaves Vero Sydney to join AFM
Leader • Stuart Kerr moves from CHUBB Australia to
• AIG appoint Justyn Hardcastle from Tokio Marine Singapore as Head of Casualty Asia Pacific
Kiln • Chris Gough moves from CHUBB Singapore
• Lydia Lambert joins AIG as Junior Underwriter to CHUBB Australia as Head of Casualty, while
retaining Asia Pacific Head of Workers Comp
• Philippa Berry leaves Aspen to join the CFC
Corporate Team • Jarrod Hill becomes Country Head and President for
Chubb Australia/New Zealand
• Raheila Nazir has resigned from Aspen
• Ben Carey Chubb Singapore is relocating to Chubb
• Junior Garber joins Tokio Marine Kiln as an NY Head of Accident & Health
Underwriting Assistant
• John French (Chubb ANZ) becomes SVP Head of
• Josephine Tam joins the CFC FI Underwriting team Broker Distribution Asia Pacific
• Yogesh Virji is appointed by AGCS to lead UK Cyber • Cameron Hill leaves XL Catlin to join Liberty Australia
team
• Alison Percival leaves Chubb Sydney to join Arch
• Hui Yu leaves London MGA Principia to join ACGS Australia Lloyds as Regional Manager Financial Lines
Cyber team as an Underwriter
• Mark Shepard leaves Chubb Perth to join Berkshire
Hathaway Perth
ASIA PACIFIC – ALL CLASSES
• Paul Lacey joins Hannover Re Sydney
• Lee Vanderson CUO for Ascot Underwriting in
Singapore has resigned • Justin O’Brien has left Allianz Sydney for Gen Re
Sydney
• Celine Ang joins Munich Re as Head of Asia from
Euler Hermes • Stephen Hunter – National Professional Lines
Manager CGU is on gardening leave. (re-structure
• Jonathan Ranger has resigned from his position as at CGU)
CEO of Munich Re Syndicate Singapore
• Ben Patrick leaves CGU in Perth following a
• Edward Rayfield moves from Chubb Australia to restructure.
Singapore as Head of Casualty
• Richard Chien leaves Swiss Re Hong Kong to join
• Jon Gilliot leaves Ascot Underwriting Taiping Re
• Lilian Soong leaves XL Catlin to join AXA • Clyde Chan leaves Swiss Re Singapore to join Hardy
• Todd Wilhelm leaves QBE to join XL Catlin as • Andrew Page moves from Beazley Singapore to
Regional Product Leader Asia Pacific. return to Beazley London
• Mei Xia Woo leaves Trans Re to join AXA • Frank Fok leaves Samsung to join Helvetia
• Brett Davey leaves AWAC Singapore • Karen Chin leaves Zurich to join Swiss Re
• Steve Hatton joins Beazley Terrorism Team • Gerald MacDonald leaves Aspen Re
• Ivan Chan leaves Argo Global Singapore • Lee Ting Tong leaves Aspen RE
• John McCully is appointed Head of Property, Energy • Susan Lim leaves Chubb Singapore
and Technical Risks for Zurich APAC
• Victoria Phillips joins Canopius in Singapore as an
• Alex Howell leaves Swiss Re to join Zurich as new Energy Underwriter
Business Head of Downstream Energy
• Aaron Gavin leaves Allianz to join QBE as Head of
• James Townley has relocated from Sompo Canopius SME for Australia and NZ
London to Sompo Singapore
• Tim Powell of XL Catlin Sydney is promoted to
• Frank Howell and Chris Rummery set up MGA Global CUO for XL Catlin and will be based in
RedRay in Singapore backed by AmTrust London
• Joe Wee leaves Talbot Singapore for Zurich • Max Broodryk has left Allianz to join XL Catlin
Singapore as product leader of Cyber risk, & International
• Boon Soon Koh leaves Allied World Singapore to join Financial Lines for Asia Pacific, based in Sydney
Trans Re • Justin Senior joins Hannover Re Sydney
• Neal Thomas joins Amlin Singapore • Kirk Populin has resigned from Chubb Melbourne
• Robert Walpole appointed Head of Property Asia for
Allied World, based in HK
Your contacts at JLT FAC London
Vanessa Macdonald-Smith Maria Padilla Machin
Chief Executive Officer Partner
Mobile +44 7768 555 946 Mobile +44 7717 700 554
Direct +44 20 7886 5655 Direct +44 20 7528 4490
vanessa.macdonald-smith@jltfac.com maria.padillamachin@jltfac.com
Jason Savage Ross Beeden
Partner Partner
Mobile +44 7917 628 099 Mobile +44 7469 376 922
Direct +44 20 7466 6212 Direct +44 20 7466 6244
jason.savage@jltfac.com ross.beeden@jltfac.com
Nick Smith David Wicks
Partner Partner
Mobile +44 7917 084 378 Mobile +44 7956 047 396
Direct +44 20 7466 6296 Direct +44 20 7528 4334
nick.smith@jltfac.com david.wicks@jltfac.com
Simon Richardson Mark Leonard
Partner Partner
Mobile +44 7723 522 654 Mobile +44 7810 527 469
Direct +44 20 7466 6266 Direct +44 20 7309 8371
simon.richardson@jltfac.com mark.leonard@jltfac.com
Julia Moretti James Kelly
Partner Partner
Mobile +44 7557 849333 Mobile +44 7468 700 770
Direct +44 20 7528 4686 Direct +44 20 7528 4687
julia.moretti@jltfac.com james.kelly@jltfac.com
Lee Horne Richard Penrose
Partner Associate
Mobile +44 7880 015 145 Mobile +44 7469 376 222
Direct +44 20 7466 6919 Direct +44 20 7466 6299
lee.horne@jltfac.com richard.penrose@jltfac.com
James Ashworth James Calmeyer
Associate Associate
Mobile +44 7826 922 233 Mobile +44 7557 205 389
Direct +44 20 7466 6490 Direct +44 20 7466 6986
james.ashworth@jltfac.com james.calmeyer@jltfac.com
Pilar Villanueva Karen Ward
Associate Associate
Mobile +44 7342 082 444 Mobile +44 7771 973 925
Direct +44 20 7466 5224 Direct +44 20 7466 6988
pilar.villanuevarozas@jltfac.com karen.ward@jltfac.com
Simon Field Tom Jakob
Associate Broker
Mobile +44 7384 456 872 Mobile +44 7795 857 001
Direct +44 20 7459 5502 Direct +44 20 7466 6203
simon.field@jltfac.com tom.jakob@jltfac.com
Matt Mackay James Floyd
Broker Broker
Mobile +44 7557 365 812 Mobile +44 7717 654 304
Direct +44 20 7466 1410 Direct +44 20 7466 6243
matthew.mackay@jltfac.com james.floyd@jltfac.com
Charlotte Murphy Lee Benson
Broker Account Executive
Mobile +44 7875 375 458 Mobile +44 7387 259 222
Direct +44 20 7466 6253 Direct +44 20 7466 6985
charlotte.murphy@jltfac.com lee.benson@jltfac.com
Harry Moseley Edward Nott
Account Handler Account Handler
Mobile +44 7894 202 910 Mobile: +44 7941 076 385
Direct +44 20 7528 4811 Direct Dial: +44 20 7466 6936
harry.moseley@jltfac.com edward.nott@jltfac.com
JLT Fac is a trading name of JLT Reinsurance Brokers Limited. Lloyd’s Broker, Authorised and regulated by the
Financial Conduct Authority. A member of the Jardine Lloyd Thompson Group, Registered Office: The St Botolph Building,
138 Houndsditch London EC3A 7AW. Registered in England No. 05523613.
© February 2018 276471