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Hiscox shares fall after 2H 2018 cat losses

News

Results

Hiscox shares fall after 2H 2018 cat losses

Shares in Lloyd’s insurer Hiscox plc closed down almost 6 percent today (5 November) – at 1552p - as investors responded negatively to the London-listed carrier’s trading statement which revealed a higher than expected $125mn of net losses from the recent nat cat events.

Mon 5 Nov 2018

News

Legacy

DARAG completes first US run-off acquisition as investor legacy interest continues

European run-off acquisition firm DARAG has completed its first US acquisition through its joint venture platform, SOBC DARAG.

Mon 5 Nov 2018

Occam bolsters management team following departures

News

People Moves

Occam bolsters management team following departures

Occam Underwriting – formerly Sciemus – has made two appointments to build out its management team following a series of exits from the company this year.

Mon 5 Nov 2018

Hiscox takes $125mn hit from 2H cats; London market rates up

News

Results

Hiscox takes $125mn hit from 2H cats; London market rates up

Blue chip Lloyd’s insurer Hiscox plc said this morning that it is experiencing healthy rate increases in most segments of its core London market book while taking a $125mn hit from the flurry of 2H cat losses.

Mon 5 Nov 2018

News

RenRe likely to end TMR’s ILS fronting services in 2021

RenRe has confirmed that it will not continue with the reinsurance/ILS fronting services provided by Tokio Millennium Re (TMR) after its $1.5bn acquisition completes.

Fri 2 Nov 2018

AIG reshapes programs portfolio with further cull

News

People Moves

AIG reshapes programs portfolio with further cull

The scheduled completion of AIG’s Glatfelter Insurance Group acquisition next week comes during a dramatic overhaul of the insurer’s US program business, Re-Insurance can reveal.

Fri 2 Nov 2018

News

Legacy

Riverstone takes on $562mn UK EL legacy liabilities

Riverstone, the legacy acquisition firm owned by Fairfax Financial, has finally taken on $562mn of run-off UK employers’ liability business following the completion last month of a court sanctioned transfer and the inception of a separate reinsurance cover.

Fri 2 Nov 2018

News

Losses

TransRe takes Q3 $196mn cat losses; Alleghany misses analysts’ consensus

TransRe took $126.2mn of net cat losses from Typhoons Jebi and Trami in the third quarter as part of an overall net cat loss bill of $195.8mn.

Fri 2 Nov 2018

Willis’ broking unit grows 5 percent in Q3 despite London challenges

News

Results

Willis’ broking unit grows 5 percent in Q3 despite London challenges

Willis Towers Watson reported 5 percent organic growth in the third quarter of 2018 in its corporate risk and broking segment, but London market pressures and dwindling UK revenues weighed on the top line.

Fri 2 Nov 2018

OMERS sells stake in Lloyd’s insurer Brit

News

Results

OMERS sells stake in Lloyd’s insurer Brit

Canadian pension fund OMERS has reduced its holding in the Lloyd’s insurer Brit to 12 percent after receiving $264.6mn for a separate 11.2 percent holding.

Fri 2 Nov 2018

Fairfax posts 97.6 percent combined ratio despite dramatic profit drop

News

Losses

Fairfax posts 97.6 percent combined ratio despite dramatic profit drop

Fairfax Financial Holdings’ (re)insurance businesses, which include Allied World and Brit, saw third quarter operating income increase to $249.9mn from a loss of $680.4mn in 2017, as lower catastrophe losses and higher interest income boost results.

Fri 2 Nov 2018

AIG to buy single Japan cat cover after $929mn in 3Q losses

News

Results

AIG to buy single Japan cat cover after $929mn in 3Q losses

AIG is restructuring its 1.1 Japan cat reinsurance programs after a third quarter which cost the insurance giant $929mn in net losses from the roll-call of cat events that hit the region.

Thu 1 Nov 2018

Asia Pacific has a lot to celebrate when it comes to diversity and inclusion

Asia Pacific’s Insurance industry provides a unique example of how diverse and inclusive workplaces help propel growth.

Thu 1 Nov 2018

News

AFG questions Neon’s ability to grow under Hancock’s crackdown

The parent company of Lloyd’s insurer Neon have called into question the impact increased scrutiny on underperforming syndicates will have on its growth ambitions in the Lloyd’s market.

Thu 1 Nov 2018