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Axa: time to focus on performance of XL urges KBW

Axa “needs to show stronger progress” in relation to the performance of XL as part of an ongoing wider group restructuring, according to analyst William Hawkins at Keefe, Bruyette & Woods (KBW).

Fri 8 Nov 2019

News

Compre buys second AG Insurance legacy portfolio

Run-off insurer Compre has agreed to purchase an inwards reinsurance portfolio from Belgian AG Insurance SA.

Fri 8 Nov 2019

News

Results

TMK syndicates’ 2017 loss ranges narrow

Tokio Marine Kiln has released reduced loss forecasts for syndicates 510 and 557 for the 2017 financial year, based on positive back-year releases for closed years of account.

Fri 8 Nov 2019

News

Allianz shares dip 2% as analyst dubs Q3 a “low quality meet”

Shares in German-listed Allianz fell by 2 percent in early trading on Friday (8 November), after the insurer missed consensus in its non-life segment, offset by positive life and health performance and investment gains.

Fri 8 Nov 2019

Beazley shares climb 7 percent on positive Q3

News

Results

Beazley shares climb 7 percent on positive Q3

Lloyd’s (re)insurer Beazley saw its shares climb by more than 7 percent in early trading on the London Stock Exchange as it posted 12 percent top line growth for the first nine months of the year, lower than expected cat losses and positive commentary on rates.

Fri 8 Nov 2019

News

Vibe Syndicate enters run-off

Vibe Syndicate 5678 at Lloyd’s is being placed into run-off as of 31 December, The Insurer can reveal.

Fri 8 Nov 2019

News

Lloyd’s to merge Council and Franchise Board

Lloyd’s is to merge the Council and the Franchise Board in a move to create a single governing body for the Corporation and the market.

Fri 8 Nov 2019

Allianz sees P&C third quarter operating profit fall by 10%

News

Results

Allianz sees P&C third quarter operating profit fall by 10%

Operating profit in Allianz’s property casualty insurance business segment fell by some 10 percent during the third quarter of 2019 to Eur1.3bn ($1.44bn) as improvements in the expense ratio and the accident year loss ratio were offset by a lower contribution from run-off.

Fri 8 Nov 2019

Beazley now predicts 100-102 CR following cats and US casualty pressure

News

Results

Beazley now predicts 100-102 CR following cats and US casualty pressure

Lloyd’s blue-chip Beazley is now predicting a modest underwriting loss as it echoes peer Hiscox in highlighting a tougher claims environment for some US casualty classes.

Fri 8 Nov 2019

Aon sues Alliant over alleged corporate raid on construction practice

News

Commercial insurance

Aon sues Alliant over alleged corporate raid on construction practice

Aon is again in litigation with Alliant over an alleged corporate raid on its Construction Services Group (CSG) following the defection of seven executives late last month including the practice’s chief broking officer Matt Walsh, The Insurer can reveal.

Fri 8 Nov 2019

Argo’s SEC subpoena response has “diminished credibility”: AM Best

News

Rating actions

Argo’s SEC subpoena response has “diminished credibility”: AM Best

AM Best has responded to the sudden exit of Argo Group’s CEO by placing the Bermudian (re)insurer’s ratings under review with negative implications and noting it is more concerned about the recent SEC subpoena and the company’s delay in making it public.

Thu 7 Nov 2019

News

“Time is antidote” for AM Best’s negative outlook: Third Point Re’s Malloy

Third Point Re’s CEO is confident the actions taken in the past year will lead AM Best to revise its negative outlook, despite the Bermuda reinsurer setting back its target of a sub-100 combined ratio until next year.

Thu 7 Nov 2019

Third Point Re eyes retro XoL opportunities for 2020

News

Property catastrophe

Third Point Re eyes retro XoL opportunities for 2020

Bermudian total return (re)insurer Third Point Re is ready to seize the opportunity to grow a book of excess-of-loss retro business in what are expected to be attractive market conditions at 1.1 and beyond, CEO Dan Malloy has told The Insurer.

Thu 7 Nov 2019

News

Cyber

Expect more cyber ILS as Hudson completes two transactions: Millette

ILS fund participation in the cyber market is expected to soar, according to Mike Millette, as Hudson Structured Capital Management (HSCM) looks to cement more deals in the space.

Thu 7 Nov 2019

Comment

Casualty

Mind the gap…

There are now only three listed Lloyd’s (re)insurers so it’s particularly noteworthy when one initially falls over fourteen percent on the same day one of the others leaps over seven percent.

Thu 7 Nov 2019

FedNat joins Florida peers in upping Irma gross loss

News

Losses

FedNat joins Florida peers in upping Irma gross loss

Florida insurer FedNat has increased its gross loss estimate of Hurricane Irma losses by $40mn and Hurricane Michael by $50mn.

Thu 7 Nov 2019