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Scale up World Bank cat bond to close protection gap: Aon’s Case

News

Property catastrophe

Scale up World Bank cat bond to close protection gap: Aon’s Case

Closing the protection gap will rely upon greater collaboration between public and private sectors, Aon’s CEO Greg Case has said, including expanding the World Bank’s $1.4bn catastrophe bond issued to Latin American countries last year.

Wed 5 Feb 2020

News

KBW highlights “change in sentiment” for Hannover Re over Lloyd’s

Keefe, Bruyette & Woods (KBW) analyst Darius Satkauskas has highlighted Hannover Re’s significant increase in support for its Lloyd’s platform, following a trading statement this morning which revealed that premium volume from business in the United Kingdom, Ireland and the London Market grew by 22.1 percent at recent 1.1 renewals.

Wed 5 Feb 2020

Hannover Re sees pricing climb 2.3% at renewal; confirms FY19/20 guidance

News

Results

Hannover Re sees pricing climb 2.3% at renewal; confirms FY19/20 guidance

German reinsurance giant Hannover Re grew its premium volume in property and casualty reinsurance by 14 percent, adjusted for exchange rate effects, in the treaty renewals at 1 January 2020.

Wed 5 Feb 2020

Canadian P&C industry growth predicted as Intact Q4 improves

News

Results

Canadian P&C industry growth predicted as Intact Q4 improves

Intact Financial has provided predictions for Canadian P&C growth in 2020, along with an increase in fourth quarter net operating income to C$303mn ($228mn) from C$281mn in the prior period.

Wed 5 Feb 2020

Comment

Renewals

Flight to quality

News of a significant fundraise by RenRe’s managed third party capital vehicles in Q4 and at 1.1 is no surprise.

Wed 5 Feb 2020

The Hartford shares slide 4% despite strong pricing outlook

News

Commercial insurance

The Hartford shares slide 4% despite strong pricing outlook

Investors sent The Hartford’s share price down despite fourth quarter results that outperformed expectations and management’s bullish pricing commentary.

Wed 5 Feb 2020

Allstate’s Q4 underwriting income boosted by lower cat losses

News

Results

Allstate’s Q4 underwriting income boosted by lower cat losses

Allstate failed to beat analysts’ consensus during 2019’s fourth quarter although the US personal lines giant did record a substantial improvement in adjusted net profit year on year.

Wed 5 Feb 2020

Markel returns to operating profit in Q4

News

Results

Markel returns to operating profit in Q4

US insurer Markel has returned to operating profit in the fourth quarter of 2019, but the reinsurance segment again made an underwriting loss.

Wed 5 Feb 2020

RenRe reveals $925mn third party capital raise but misses in Hagibis-hit Q4 results

News

Casualty Reinsurance

RenRe reveals $925mn third party capital raise but misses in Hagibis-hit Q4 results

RenaissanceRe reported operating earnings per share that fell short of Wall Street forecasts in a fourth quarter that included a $193.3mn hit from Typhoon Hagibis and aggregate loss contracts written by the Bermudian reinsurer.

Wed 5 Feb 2020

The Hanover commercial rates up 7.9% as operating income jumps

News

Results

The Hanover commercial rates up 7.9% as operating income jumps

The Hanover has reported price increases in the fourth quarter of 7.9 percent in core commercial lines and 5.1 percent in personal lines, along with an increase in operating income that slightly beat expectations.

Tue 4 Feb 2020

Chubb reports strong top line growth driven by market change

News

Rates

Chubb reports strong top line growth driven by market change

Chubb’s fourth quarter 2019 core operating income per share of $2.28 comfortably beat analysts’ mean estimate of $2.12 per share as CEO Evan Greenberg pointed to top line growth fueled by price increases that continue to accelerate and spread to more classes of business.

Tue 4 Feb 2020

USA Gymnastics’ insurers agree to pay $215mn to victims fund

News

Casualty

USA Gymnastics’ insurers agree to pay $215mn to victims fund

Insurers including Chubb and AIG have agreed to pay $215mn into a settlement fund to compensate sexual abuse victims as part of a bankruptcy plan filed by USA Gymnastics.

Tue 4 Feb 2020

News

Casualty

MultiStrat completes its largest casualty ILS with $205mn GL deal

MultiStrat Advisers has arranged a $205mn casualty ILS transaction for an unnamed US insurance company with Texas-based alternative asset manager Vida Capital that is the largest yet facilitated by the Bermudian firm.

Tue 4 Feb 2020

News

M&A

BB&T Insurance to fuel growth under Truist brand with M&A

BB&T Insurance Holdings is eyeing opportunities on the M&A trail as it seeks to continue its growth trajectory following the merger of equals (MOE) between its banking parent and SunTrust, according to the unit’s CEO John Howard.

Tue 4 Feb 2020

Analysis

European reinsurance renewals to disappoint: KBW

The “limited” rate increases achieved by European reinsurers at the important 1 January renewals will likely be absorbed by model changes and inflation rather than dropping to profit, according to analyst Keefe, Bruyette and Woods.

Tue 4 Feb 2020

News

Cyber

Aon buys cyber security firm Cytelligence

Aon has acquired Canadian cyber security firm Cytelligence, which has expertise in incident response and digital forensics services.

Tue 4 Feb 2020