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Weekly news: Aon sees H1 global cat losses at $45B; Centene backs ACA program

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Weekly news: Aon sees H1 global cat losses at $45B; Centene backs ACA program

Property and casualty

Pricing was among the topics discussed during recent reinsurers' conference calls. The property and casualty insurance industry experienced a broad-based improvement in pricing during the second quarter, according to AXIS Capital Holdings Ltd. President and CEO Albert Benchimol. Also, RenaissanceRe Holdings Ltd. CEO Kevin O'Donnell said he is "confused" by the reinsurance market's current pessimism about the prices being charged for cover.

W. R. Berkley Corp.'s top executive is warning that a more litigious environment will surely have an impact on loss-cost inflation.

Global economic losses from natural disasters for the first half are estimated at $45 billion, with about $21 billion in insured losses, according to a report by Aon Benfield Inc.

Two Assured Guaranty Ltd. bond insurance subsidiaries filed an adversary complaint challenging the legality of the appointments to Puerto Rico's oversight board.

Arthur J. Gallagher & Co. CEO Pat Gallagher Jr. shrugged off concerns about the Illinois-based insurance broker's ability to sustain growth through M&As for the longer term, saying that there is a "never-ending" supply of brokers that could potentially be up for grabs.

Life and health

Anthem Inc. is not looking to change its individual Affordable Care Act exchange footprint in 2019, President and CEO Gail Boudreaux said after the company reported a 55% year-over-year drop in membership.

Centene Corp. will continue to support the Affordable Care Act risk-adjustment program as it was originally designed even though its suspension has led to better quarterly financial results.

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