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Greenberg downplays impact of asbestos talcum powder risk for industry

News

Losses

Greenberg downplays impact of asbestos talcum powder risk for industry

The chief executive of Chubb, Evan Greenberg, has talked down the potential impact that new asbestos claims stemming from talcum powder use could have on the insurance industry.

Thu 26 Jul 2018

Marsh’s $55mn restructuring costs eat into Q2 profits

News

Results

Marsh’s $55mn restructuring costs eat into Q2 profits

Marsh & McLennan Companies has unveiled a $55mn bill for “restructuring” costs in its second quarter results, after making swathes of people redundant in an efficiency drive, first revealed by this publication in March.

Thu 26 Jul 2018

Sciemus CEO steps down as rebrands to Occam

News

People Moves

Sciemus CEO steps down as rebrands to Occam

Sciemus, the satellites-to-cyber risk modelling and MGA firm, has taken its inspiration from the fourteenth century English philosopher William of Occam as it rebrands to Occam Underwriting.

Thu 26 Jul 2018

Axis impresses analysts as Novae deal bolsters top line

News

Results

Axis impresses analysts as Novae deal bolsters top line

Axis surpassed the expectations of analysts in the second quarter to deliver a $106mn profit as its acquisition of Novae contributed to a 21 percent increase in the Bermudian’s top line.

Thu 26 Jul 2018

Lancashire share price falls on Q2 profits and revenues dip

News

Results

Lancashire share price falls on Q2 profits and revenues dip

Lancashire’s share price fell sharply this morning to its lowest since December 2014 after unveiling a lower-than-expected pre-tax profit of $32.5mn in the second quarter of 2018, down 14 percent on the same three-month period last year.

Thu 26 Jul 2018

News

JLT’s organic revenues grow 4% as 'transformation' costs dent profits

Broker JLT reported organic revenue growth of 4 percent in the first six months of the year, while the cost of a £45mn “global transformation programme” ate into profits for the period.

Thu 26 Jul 2018

Scor posts 91% P&C combined ratio for first half of the year

News

Casualty Reinsurance

Scor posts 91% P&C combined ratio for first half of the year

Top-tier reinsurer Scor has posted a combined ratio of 91.4 percent in its key P&C division in the first half of the year fuelled by lower natural catastrophe losses, modest pricing improvements and new business wins.

Thu 26 Jul 2018

Global delegated authority premiums swell to £65bn: EY

News

Results

Global delegated authority premiums swell to £65bn: EY

Premiums written through delegated authority underwriters hit £65bn in 2017, an increase of almost a third in just four years, according to a new study by EY.

Wed 25 Jul 2018

News

Casualty

Casualty is WRB “sweetspot” as eyes on London “discipline”

WR Berkley CEO Rob Berkley has described casualty as the group’s “sweetspot” while taking shot at the industry’s habit of misrepresenting short-tail results, on his company’s call with investors yesterday.

Wed 25 Jul 2018

News

Brexit

AM Best assigns A rating to Markel’s German hub for Brexit

AM Best has handed an A rating to the German carrier that Markel has set up to handle European business after Brexit.

Wed 25 Jul 2018

News

People Moves

Hyperion CFO Corbett heads for the exit

The finance boss of Hyperion, which owns brokers Howden and RKH as well as managing general agent Dual, has stepped down.

Wed 25 Jul 2018

(Re)insurers will be 'pulled in' to opioid crisis

News

Losses

(Re)insurers will be 'pulled in' to opioid crisis

(Re)insurers will inevitably be drawn in to impending litigation from the ongoing opioid epidemic in the US, according to the CEO of the blue-chip specialty insurance group, WR Berkley.

Wed 25 Jul 2018

Atrium loses property reinsurance underwriter Ungless

News

People Moves

Atrium loses property reinsurance underwriter Ungless

Lloyd’s (re)insurer Atrium has parted ways with its property reinsurance underwriter Robin Ungless, re-insurance.com can reveal.

Wed 25 Jul 2018

Chubb beats analyst expectations as premiums jump to $10bn in Q2

News

Results

Chubb beats analyst expectations as premiums jump to $10bn in Q2

Insurance giant Chubb has narrowly surpassed the expectations of analysts to deliver a $1.25bn profit in the first quarter as premiums neared the $10bn mark.

Wed 25 Jul 2018

WRB beats as insurance business grows in second quarter

News

Results

WRB beats as insurance business grows in second quarter

US carrier WR Berkley has beaten analyst forecasts in the second quarter to deliver a $180mn profit as premiums in its insurance book climbed by 4 percent.

Wed 25 Jul 2018

Reserve charge pressures QIC’s combined ratio as expenses slim

News

Results

Reserve charge pressures QIC’s combined ratio as expenses slim

Qatar Insurance Company, which owns Lloyd’s syndicate Antares and Bermudian reinsurer Qatar Re, saw its combined ratio remain in the red for the first half of 2018 after a reserve charge put pressure on profits.

Wed 25 Jul 2018