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Holborn hires Sciolla as chief production officer

News

People Moves

Holborn hires Sciolla as chief production officer

US reinsurance broker Holborn has hired former Gen Re executive Berto Sciolla as chief production officer.

Thu 14 Feb 2019

AIG: ‘We don’t need a hard market to improve this book’

News

Results

AIG: ‘We don’t need a hard market to improve this book’

AIG is confident it is almost free of the drag of the previous management’s “go-large” approach on its combined ratio.

Thu 14 Feb 2019

Lancashire shares up over 7% percent on earnings beat

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Results

Lancashire shares up over 7% percent on earnings beat

Shares in London-listed Lancashire climbed 7.06 percent in trading on Thursday (14 February) after the carrier reported better-than consensus fourth quarter financial results.

Thu 14 Feb 2019

Tokio Marine’s European and reinsurance units return to black

News

Losses

Tokio Marine’s European and reinsurance units return to black

Japanese giant Tokio Marine’s reinsurance and European businesses both returned to a profit in the first nine months of 2018.

Thu 14 Feb 2019

Carnegie-Brown steps down as Moneysupermarket chair

News

People Moves

Carnegie-Brown steps down as Moneysupermarket chair

Bruce Carnegie-Brown will stand down as chairman and non-executive director of price comparison website Moneysupermarket.com in May 2019.

Thu 14 Feb 2019

News

Florida specialists outperform in cat years: Aon

The group of largely Demotech-rated carriers that dominate Florida’s homeowners insurance market typically outperform the subsidiary operations of national insurers operating in the state in years hit by hurricanes, according to a report by Aon.

Thu 14 Feb 2019

Sompo International swings to 9M underwriting profit

News

Results

Sompo International swings to 9M underwriting profit

Sompo International - which was built out through its Japanese parent’s mammoth 2016 acquisition of Endurance – reported a combined ratio of 93.2 percent for the nine months to the end of December 2018, a 25.7 percentage point improvement on the same period in 2017.

Thu 14 Feb 2019

News

Losses

AIG shares plunge 9% on Q4 loss

AIG shares were trading down close to 9 percent in New York this morning as investors reacted negatively to a big Q4 2018 earnings miss.

Thu 14 Feb 2019

MS&AD nine-month profits up as MS Amlin losses narrow

News

Results

MS&AD nine-month profits up as MS Amlin losses narrow

Japanese carrier MS&AD saw its profits nearly double year-on year, increasing 47 percent to 237.6bn yen ($2.14bn) in the nine months ended December 2018.

Thu 14 Feb 2019

Everest Re confident of premium growth despite business mix shift

News

Results

Everest Re confident of premium growth despite business mix shift

Everest Re’s property cat reinsurance book was down at 1 January but the Bermudian carrier said it believed its casualty business will drive an overall increase in reinsurance premiums for the first quarter.

Thu 14 Feb 2019

Cats push Lancashire to $16mn Q4 loss; top line balloons

News

Results

Cats push Lancashire to $16mn Q4 loss; top line balloons

Lancashire has reported a pre-tax loss of $16mn in the fourth quarter of 2018, a marked deterioration on the $3.2mn loss posted in the same period last year.

Thu 14 Feb 2019

AIG’s $365mn reserve charge contributes to big Q4 miss

News

Losses

AIG’s $365mn reserve charge contributes to big Q4 miss

AIG shares were down more than 3 percent in after hours trading in response to the insurer reporting an adjusted after-tax loss of $559mn, or $0.63 per share, for the fourth quarter of 2018.

Wed 13 Feb 2019

News

Losses

Assurant cuts cat XoL retention by a third after losses

US insurer Assurant has lowered the per-event retention on its 2019 catastrophe reinsurance programme from $120mn to $80mn after consecutive years of cat losses.

Wed 13 Feb 2019

News

Asia poised for substantial insurtech growth: KPMG

Insurtech “matured significantly as a sector” last year, with 13 deals worth more than $100mn each, according to a new KPMG report.

Wed 13 Feb 2019

News

Nationwide and MS&AD invest in insurtech platform Socotra

Insurtech platform Socotra has raised $5.2mn, bringing its overall funding to $18mn.

Wed 13 Feb 2019

News

Beazley-backed Digital Risks gains Lloyd’s coverholder status

UK-based insurtech start-up Digital Risks has achieved Lloyd’s coverholder status, enabling it to cover more specialist risks and insure UK businesses that trade internationally.

Wed 13 Feb 2019