Driving the Market with Ian Fantozzi, Beazley Group COO

Wed 12 Feb 2020

Arch expected to trade up as Q4 results beat

Shares in Arch Capital Group are expected to trade up on Wednesday after the Bermudian carrier reported a consensus beating fourth quarter net operating income per share of $0.74, significantly lower catastrophe losses in its P&C operations and a circa 25 percent jump in insurance GWP.

Wed 12 Feb 2020

IAG taps 2019 agg for A$280mn and signals 2020 cat cover claims

Australian insurer IAG further lowered guidance for its full-year profit margin and increased its projection for net natural peril claim costs as it disclosed updated details of cat losses and its use of reinsurance.

Tue 11 Feb 2020

Watford Re posts Q4 loss, calls reserves action “prudent and responsible”

Watford Re’s CEO John Rathgeber has called the $28mn of reserve strengthening the company announced in early January “the prudent and responsible course of action” as the reinsurer posted a 128.3% combined ratio for the fourth quarter.

Tue 11 Feb 2020

Arch operating profits up 63% in Q4

Arch Capital Group has reported a 63 percent increase in fourth quarter operating profits to $308.4mn, aided by significantly lower cats in its P&C operations and a solid contribution from its mortgage insurance business.

Tue 11 Feb 2020

Marine market exits ‘cyclical not structural’: IUMI

Retrenchment and exits from marine classes of business reflect the cyclical nature of the insurance market and isn’t indicative of a structural shift, the president of the International Union of Marine Insurance (IUMI) has said.

Tue 11 Feb 2020

ILS executive Scherer to leave Aon Bermuda

Aon’s Bermuda-based insurance linked securities (ILS) expert Chuck Scherer is leaving the company and heading back to the US, The Insurer has learned.

Tue 11 Feb 2020

Everest’s Doucette describes “W-shaped” market; Mt Logan shrinks

In contrast to the widely-touted view of a “U-shaped” market with reinsurance rates lagging primary and retro rates, Everest Re’s reinsurance CEO John Doucette believes the better characterisation is a “W-shape” reflecting a mixed reinsurance market.

Tue 11 Feb 2020

Oxbow Partners names De’Ath head of market intelligence

Insurance-focused management consultancy Oxbow Partners has appointed former Shore Capital Markets analyst Paul De’Ath as head of market intelligence.

Tue 11 Feb 2020

Fidelis raises $300mn as it sees “attractive opportunities”

Bermudian Fidelis has raised approximately $300mn of equity capital from a combination of its existing shareholders and a subsidiary of the Abu Dhabi Investment Authority (ADIA), in order to support Fidelis’ further growth.

Tue 11 Feb 2020

Windhaven withdrawal creating Florida opportunities: Kemper

Kemper management has said it renewed its reinsurance programme at 1.1 with an “inconsequential” price change, while the Chicago-based insurer is taking advantage of the liquidation of Windhaven in Florida.

Tue 11 Feb 2020

R&W pricing correction expected despite strong competition

A Gallagher analysis of the representations and warranties (R&W) insurance market states that recent claims trends suggest “it is reasonable to suspect a small pricing correction is forthcoming”.

Tue 11 Feb 2020

Suncorp share price slumps to 52-week low as Q4 results reveal bushfire reinsurance hit

Shares in Australian carrier Suncorp were trading at a 52-week low today following the release of the carrier’s Q4 results, which included the impact of recent devastating bushfires on its reinsurance programme.

Tue 11 Feb 2020

Swiss Re CorSo names Pritchard as head of distribution UK

Swiss Re Corporate Solutions (CorSo) has appointed former Crawford global relationship leader Caroline Pritchard as head of distribution UK, as the the reinsurance giant continues to shake up its loss-making primary insurance arm.

Tue 11 Feb 2020

US property insurance pricing leaps 18% in Q4: Marsh

Property insurance pricing in the US increased 18.2 percent in the fourth quarter, according to research by Marsh.

Tue 11 Feb 2020

Gallagher names Turner Specialty CEO as Thompson shifts to BD role

Gallagher has named Pen Underwriting’s Jonathan Turner as CEO of its UK-based Specialty business with current CEO, John Thompson, taking up a new role as head of business development for the division.

Tue 11 Feb 2020