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RenRe misses on earnings after Q3 cat losses

News

Results

RenRe misses on earnings after Q3 cat losses

Preannounced Q3 cat losses of $155mn sent RenaissanceRe operating profits down to $0.29 a share, well below the $1.01 a share consensus forecast of analysts compiled by MarketWatch.

Tue 29 Oct 2019

News

Losses

Argo warns of $42mn Q3 reserve charge

Bermudian carrier Argo has preannounced it expects to suffer prior accident year losses of approximately $42mn – or 9.3 points – on its consolidated loss ratio in its upcoming third quarter results.

Tue 29 Oct 2019

Catastrophes push Axis to “disappointing” Q3 operating loss

News

Results

Catastrophes push Axis to “disappointing” Q3 operating loss

Bermudian (re)insurer Axis Capital has reported a third quarter operating loss of $33mn – or a $0.39 loss per diluted common share – as catastrophe losses took their toll.

Tue 29 Oct 2019

Chubb: prices firming at double or more Q1 rate “in many cases”

News

Commercial insurance

Chubb: prices firming at double or more Q1 rate “in many cases”

Chubb beat analysts’ expectations in the third quarter, reporting core income per share of $2.70, up from $2.41 in the third quarter of 2018.

Tue 29 Oct 2019

Arch Q3 income up despite (re)insurance underwriting loss

News

Results

Arch Q3 income up despite (re)insurance underwriting loss

Arch Capital’s third quarter results met investor expectations despite catastrophe losses producing underwriting losses in its insurance and reinsurance segments.

Tue 29 Oct 2019

News

Wildfires

Kincade and Getty wildfires further sign of “new normal”: AM Best

The latest wildfires in California will add further impetus to an uptick in reinsurance pricing in loss-affected areas, AM Best has commented.

Tue 29 Oct 2019

Comment

Capital

Flexible friends

Apollo’s recent news and RenRe’s continued pre-eminence are reminders that the provision of capital and originating and underwriting risk are flexible partnerships. They work best when there is a strong alignment of interest…

Tue 29 Oct 2019

News

People Moves

Trean adds Rex to growing platform

Expansive reinsurance broker Trean Intermediaries has hired former Guy Carpenter executive Mark Rex as managing partner, The Insurer can reveal.

Tue 29 Oct 2019

News

Results

MMC shares climb as investors welcome 3Q results and upbeat post-JLT messaging

Shares in Marsh & McLennan Companies (MMC) have climbed over five percent today to touch its year to date high as investors welcomed the firm’s third quarter consensus beating results and upbeat management message about the integration of its £4.3bn JLT acquisition.

Tue 29 Oct 2019

Analysis

Will the pricing mismatch continue in the second Lloyd’s capacity auction?

The second Lloyd’s capacity auction begins tomorrow and observers will be scrutinizing closely to see whether the marked gap between buyers and sellers’ expectations narrows.

Tue 29 Oct 2019

Justice Freedman’s verdict on key Ardonagh-Gallagher witnesses

Analysis

Legal dispute

Justice Freedman’s verdict on key Ardonagh-Gallagher witnesses

It was the most high profile London market broker poaching dispute for years with the added piquancy of bad blood between the two organisations.

Tue 29 Oct 2019

News

Beazley to write $150mn of broker facilities business in 2020

Blue-chip Lloyd’s (re)insurer Beazley plans to more than double the broker facilities business it writes in 2020, The Insurer can reveal.

Tue 29 Oct 2019

Aon to redomicile parent company to Ireland from UK

News

Brexit

Aon to redomicile parent company to Ireland from UK

Broking giant Aon is to move the jurisdiction of the firm’s parent company from the United Kingdom to Ireland in order to remain in the European Union following Brexit.

Tue 29 Oct 2019

Ascot confirms AWAC excess casualty hires in Bermuda

News

People Moves

Ascot confirms AWAC excess casualty hires in Bermuda

Ascot has appointed Patrick Kenahan as head of excess casualty in Bermuda, who will be joined by Jason Pugi, Kimberley Pursell and Michael Watkins as senior vice presidents on the island, in a move first revealed by The Insurer.

Tue 29 Oct 2019

News

Australasian ILW growth expected following PCS expansion

Loss monitoring firm Property Claim Services (PCS) is expanding its coverage to include Australia, New Zealand and a number of Asian countries in what is expected to encourage ILW growth in the region.

Tue 29 Oct 2019

Beazley names BHSI’s Westhoff as US commercial property head

News

People Moves

Beazley names BHSI’s Westhoff as US commercial property head

Blue chip insurer Beazley has appointed Matthew Westhoff as head of US large commercial property, based in New York.

Tue 29 Oct 2019