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Rising yield rates make short-term dent on Q1 carrier earnings

Analysis

Results

Rising yield rates make short-term dent on Q1 carrier earnings

If one of the main themes of the recent results season was the signs of upward rate movements after last year’s cat events, a sub-theme was the typically poor investment return of many carriers and the impact of rising interest rates on fixed income portfolios in Q1 2018.

Tue 22 May 2018

Japanese carriers hit by Trump tax changes

News

Results

Japanese carriers hit by Trump tax changes

Japan’s big three carriers posted a mixed set of results , with all of MS&AD, Tokio Marine and Sompo hit by changes to the US tax code.

Tue 22 May 2018

Icahn senses vulnerability in AmTrust go-private deal - and he may be right

News

Legal/ Regulatory

Icahn senses vulnerability in AmTrust go-private deal - and he may be right

The saga of the last year or so could never really end as simply as AmTrust returning quietly to private ownership, could it?

Tue 22 May 2018

News

Cyber

Chubb overtakes AIG as largest insurer of cyber coverage: AM Best

In 2017, Chubb more than doubled its direct premiums written for US cybersecurity business to $284.4mn, leapfrogging AIG and XL Group.

Tue 22 May 2018

Icahn files suit against AmTrust over ‘unfair’ shareholder vote

News

Results

Icahn files suit against AmTrust over ‘unfair’ shareholder vote

Activist investor Carl Icahn has filed a lawsuit against AmTrust and its owners - the Karfunkel/ Zyskind family - over the shareholder vote on the company’s $13.50 per share take private deal, alleging that the price “undervalues the company and is happening at the wrong price and at the wrong time”.

Mon 21 May 2018

Political risk underwriter White joins Castel Specialty platform

News

People Moves

Political risk underwriter White joins Castel Specialty platform

Former ANV/AmTrust political risk underwriter Tom White has joined MGA Castel’s Specialty platform to launch his own book under the company’s banner.

Mon 21 May 2018

SSL Endeavour to ‘strike while the iron is hot’ with M&A

News

M&A

SSL Endeavour to ‘strike while the iron is hot’ with M&A

The newly-formed SSL Endeavour will waste no time in lining up acquisitions to grow the business, the chief executive of Endeavour, David Lawrence has said.

Fri 18 May 2018

Sompo’s international profits more than double on tax gain

News

Losses

Sompo’s international profits more than double on tax gain

Profits in Sompo’s overseas business, which includes Sompo International - formerly Endurance - more than doubled last year as the group benefited from a tax gain driven by an internal restructure.

Fri 18 May 2018

News

Losses

Losses weigh on Tokio Marine results for 2017

Profits at Tokio Marine slipped by a quarter in 2017 as a string of catastrophe events and large losses weighed on the Japanese giant’s full year results.

Fri 18 May 2018

News

Results

Catastrophes hit MS&AD bottom line

Japanese (re)insurer MS&AD has posted a profit of 211.5bn yen ($1.91bn) in its full year results.

Fri 18 May 2018

JC Flowers continues to be drawn to the insurance honey pot

News

M&A

JC Flowers continues to be drawn to the insurance honey pot

The veteran private equity investor JC Flowers has continued its interest in the UK insurance market with news today that the firm has acquired controlling stakes in two London market broking firms: the marine-focussed SSL and the delegated underwriting specialist, Endeavour.

Fri 18 May 2018

Nat cats push AIG Europe to $582.4mn 2017 loss

News

Results

Nat cats push AIG Europe to $582.4mn 2017 loss

The natural catastrophes that plagued 2017 were a key contributor to the £431.5mn ($582.4mn) loss that AIG Europe posted in 2017.

Fri 18 May 2018

AmTrust’s go-private deal in doubt as Icahn reveals $242mn bet on the firm

News

Results

AmTrust’s go-private deal in doubt as Icahn reveals $242mn bet on the firm

Activist investor Carl Icahn has thrown into doubt the future of a proposed $2.7bn deal by AmTrust’s CEO and his in-laws to take the firm private as he revealed a 9.4 percent holding in the firm.

Fri 18 May 2018