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O’Kane focuses on Aspen 2.0 as second round M&A begins

News

M&A

O’Kane focuses on Aspen 2.0 as second round M&A begins

Aspen published its first set of results last week since beginning a formal sale process which ensured even greater scrutiny than usual on its turn-around plans.

Tue 8 May 2018

News

Energy

GCube’s Richardson heads to Travelers as renewable energy boss

Charlie Richardson, senior energy underwriter at Lloyd’s coverholder GCube, is leaving the firm for Travelers.

Tue 8 May 2018

Hiscox top line surges in first quarter as rates harden at 1.1

News

Results

Hiscox top line surges in first quarter as rates harden at 1.1

London (re)insurer Hiscox has reported a 20.3 percent rise in gross written premiums (GWP) in the first quarter driven by improved pricing at the beginning of the year.

Tue 8 May 2018

Munich Re posts EUR827mn Q1 profit as P&C surges

News

Casualty Reinsurance

Munich Re posts EUR827mn Q1 profit as P&C surges

Munich Re has posted a 48.4 percent year-on-year increase in first quarter profits, which climbed to EUR827mn as the German firm’s P&C unit improved substantially on the back of a stronger underwriting performance.

Tue 8 May 2018

Navigators beats with 94% combined ratio

News

Results

Navigators beats with 94% combined ratio

US specialty player Navigators impressed analysts with a $32.9mn operating profit for the first quarter, a 61.3 percent improvement on this time last year.

Tue 8 May 2018

News

Allstate increases 2018 reinsurance limit to $4.5bn with rated and ILS markets

Allstate, the US personal lines heavyweight, has “substantially placed” its 1 June cat XoL reinsurance program and with increased limit from both the traditional and ILS markets.

Mon 7 May 2018

Aspen bankers narrow bidders as second round begins

News

M&A

Aspen bankers narrow bidders as second round begins

Goldman Sachs and JP Morgan will formally notify parties which have made it through to the second round auction process for the up-for-sale Bermudian (re)insurer Aspen early this week, re-Insurance.com can reveal.

Mon 7 May 2018

News

Casualty Reinsurance

Hannover Re beats as premiums climb

Hannover Re has beaten analyst forecasts for its first quarter profits and seen its gross written premiums climb strongly in the first three months of the year.

Mon 7 May 2018

XL: London and Bermuda enjoying positive rates ‘in all lines’

News

Results

XL: London and Bermuda enjoying positive rates ‘in all lines’

XL Group has revealed that its London Market and Bermuda operations both enjoyed revenue growth of 14 percent in the first quarter while providing encouragement to investors on strong 2018 rate movements.

Fri 4 May 2018

Aon broking margins grow as reporting changes boost revenue

News

Results

Aon broking margins grow as reporting changes boost revenue

Aon’s primary and reinsurance broking arms posted organic revenue growth of 4 percent and 6 percent respectively in a first quarter where changes to GAAP accounting standards proved a boon to the group’s headline revenue figures.

Fri 4 May 2018

Willis Re bolsters engineering practice with TransRe hire

News

People Moves

Willis Re bolsters engineering practice with TransRe hire

Andrew Vince has joined Willis Re as deputy head of its global engineering practice.

Fri 4 May 2018

Allied World deal bolsters Fairfax GWP as underwriting profit stays flat

News

Results

Allied World deal bolsters Fairfax GWP as underwriting profit stays flat

Canadian investment giant Fairfax, which owns the likes of Brit and OdysseyRe, saw premiums climb by 50.7 percent in the first quarter driven by its acquisition of Allied World.

Fri 4 May 2018

News

Results

P&C business drives growth at Generali

Italian insurance giant Generali has posted an operating profit of EUR1.3bn ($1.56bn) in the first quarter, up five percent on the back of an improved performance in the property and casualty (P&C) segment.

Fri 4 May 2018

News

Results

Axa P&C revenues grow 2% to EUR6.3bn

French carrier Axa increased revenues at its P&C unit by 2 percent to EUR6.3bn in the first quarter as the firm geared up for its massive $15.3bn acquisition of XL Group.

Fri 4 May 2018

Argo beats estimates as first quarter premiums swell

News

Results

Argo beats estimates as first quarter premiums swell

Bermudian (re)insurer Argo exceeded the expectations of analysts to deliver an operating profit of $36.5mn in the first three months of the year.

Fri 4 May 2018

Reserve releases at TransRe drive surge in Alleghany profits

News

Results

Reserve releases at TransRe drive surge in Alleghany profits

Reserve releases within Alleghany’s reinsurance arm TransRe have driven a surge in the US firm’s profits, which climbed 51.8 percent to $174.6mn in the first quarter.

Fri 4 May 2018