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  • Beach & Associates - COVID-19 Newsletter

    Beach expands US capabilities with new hire

    Beach & Associates [“Beach” or “Beach Re”] is pleased to announce the hire of Warren Berkstresser as Senior Vice President of its US reinsurance division, Beach Re. He will join at the end of October and will report to Simon Hedley, CEO of Beach North America.

    Berkstresser will focus on developing Beach’s US property treaty and specialty programs business. He will also launch and run Beach’s new office in Seattle and sit on the North America office head’s executive team.

    Hedley said: “I am delighted Warren will be joining Beach. The role of the treaty broker is constantly evolving – brokers need to combine the sales aspect and understanding of their marketplace, with a deep, technical knowledge. Warren perfectly embodies this 21st century approach; he has extensive analytical skills and an outstanding insight of the P&C market which complements Beach’s client focused and analytical approach to the risk transfer process. He is well respected in the market and a fantastic hire for us. I look forward to working with him to further build our property business and presence on the west coast.”

    Jason Howard, CEO of Beach Group, added: “Acrisure has a significant retail property & casualty presence on the North American west coast so we are happy to be complementing this with our reinsurance capabilities. He will be vital in our US expansion plans and working with our parent Acrisure to identify mutually beneficial opportunities to build upon the Beach franchise.”

    Berkstresser began his career in the reinsurance industry in 2005 within Guy Carpenter’s Instrat Global Analytics. He spent four years within the integrated analytics unit, helping develop risk transfer solutions supported by predictive, financial and catastrophe modeling analyses. In 2010, Berkstresser joined Willis Re – most recently acting as an Executive Vice President of production and broking, specializing in the property catastrophe market. There he managed a team responsible for analysis, structuring, marketing and negotiating advanced risk transfer strategies consisting of traditional reinsurance, capital market solutions, and accretive business partnerships.

     

    ENDS
    For further information, please contact:
    Haggie Partners

    Peter Rigby
    Peter.rigby@haggie.co.uk
    Tel:  + 44 20 7562 4444

     

    Becky Young
    Becky.young@haggie.co.uk
    Tel:  + 44 20 7562 4444

     

    Olivia Thomson
    Olivia.Thomson@haggie.co.uk
    Tel:  + 44 20 7562 4444

     

    About Beach

    Beach is a premier re/insurance broking and advisory firm. Beach has a reputation for innovative reinsurance placements for complex and technical books of business. Operating in London, Zurich, Bermuda, Toronto, Burlington NC, Chicago, New York and Seattle, Beach works with major insurance companies and insurance distribution to understand and achieve corporate risk management goals through the purchase of reinsurance and insurance portfolio solutions. Beach has a global team of over 160 experienced and talented employees dedicated to providing bespoke advisory, portfolio and (re)insurance solutions. Beach was acquired by Acrisure, the fastest growing broker globally, in 2018.

    https://beachgp.com/

     

    Beach expands US capabilities with new hire
  • Beach 2020 Pre-Season Hurricane Report
    Beach & Associates - COVID-19 Newsletter

    Beach & Associates – COVID-19 Newsletter

    The Beach COVID-19 Newsletter aims to provide an open and candid review of the impact that the Coronavirus outbreak is having on the (re)insurance industry, seeking to delve into class specific case studies and report what we have observed to be interesting in the press.

    The most recent issue (14) reflects on July 1 renewal season in the Healthcare and Accident & Health markets with a brief discussion on the pivotal role of M&A in the road to economic recovery.

    Please follow the link below for full newsletter and prior issues:

    Covid-19 Newsletter Edition 14 – Beach Associates

    Covid-19 Newsletter Edition 13 – Beach & Associates

    Covid-19 Newsletter Edition 12 – Beach & Associates

    Covid-19 Newsletter Edition 11 – Beach & Associates

    Covid-19 Newsletter Edition 10 – Beach & Associates

    Covid-19 Newsletter Edition 9 – Beach & Associates

    Covid-19 Newsletter Edition 8 – Beach & Associates

    Covid-19 Newsletter Edition 7 – Beach & Associates

    Covid-19 Newsletter Edition 6 – Beach & Associates

    Covid-19 Newsletter Edition 5 – Beach & Associates

    Covid-19 Newsletter Edition 4 – Beach & Associates

    Covid-19 Newsletter Edition 3 – Beach & Associates

    Covid-19 Newsletter Edition 2 – Beach & Associates

    Covid-19 Newsletter Edition 1 – Beach & Associates

  • Beach & Associates - COVID-19 Newsletter

    Beach 2020 Pre-Season Hurricane Outlook

    Beach presents its annual Pre-Season Hurricane Outlook for the 2020 Atlantic Hurricane season.

    This year a consensus of forecasts is indicating an above average season. This follows on from three active years, two of which saw very heavy loss activity. In 2019, the United States was luckily spared any significant hurricane loss events. However, it could have been rather different if Dorian had followed one of its early forecast tracks and made a CAT 5 landfall in Florida. It nevertheless devastated the Bahamas, causing significant loss of life and property damage.

    As we do each year, we have considered several key persistent variables behind the forecasts to provide context.

    This year high Atlantic sea surface temperatures (SST) and a potential La Nina are the main drivers of the above average forecasts. The Atlantic Multi-decadal Oscillation (“AMO”) index published by NOAA, a measure of how warm the Atlantic is relative to average, was at its highest level since 1948 for February and March, and second highest level for April. High AMO is usually a strong indicator of an active season.

    We have also looked for factors that may give us reasons to be less pessimistic about the upcoming season. The strongest is probably the distribution of warm water in the Atlantic, which is unlike that of the active seasons with similarly high AMO early in the 2010, 2005 and 1998 years. This year most of the anomalously warm water is north of the Main Development Region and hence hopefully not as effective in promoting hurricane genesis and strengthening.

    The COVID-19 pandemic means that disruption and cost caused by a hurricane landfall or near miss this year would likely be considerably amplified.

    The full report is available via the link below:

    2020 Beach Pre-Season Hurricane Outlook