NewsProperty catastropheILS to put reinsurance cycle ‘on life support or worse’: WillisThe continued development of the ILS market has the potential to seriously disrupt the traditional reinsurance cycle, Willis Towers Watson has said.Thu 26 Apr 2018
NewsPeople MovesMense to retire from CNA at year endCNA finance chief Craig Mense will step down from his role at the end of 2018 after nearly 15 years at the firm, the company announced today.Thu 26 Apr 2018
NewsLossesCalifornia wildfire bill continues to plague Everest Re in Q1Everest Re’s climbing fourth quarter catastrophe bill helped the carrier to disappoint analysts in the first three months of 2018.Thu 26 Apr 2018
NewsResultsAxis smashes estimates to deliver $123mn profit in Q1Axis Capital surpassed the expectations of analysts to deliver a $123mn first quarter profit after the Bermudian’s combined ratio sank to 90.8 percent.Thu 26 Apr 2018
NewsResultsScor P&C keeps up US growth as combined ratio improves to 91.8%Scor grew its P&C top line by around 3.9 percent at constant currency rates to EUR1.48bn in the first quarter fuelled by increased US treaty business.Thu 26 Apr 2018
NewsM&AAxa US IPO prep nets $3.2bn to fund XL acquisitionAxa has secured around $3.2bn of new funds from a reorganisation linked to the pending IPO of its US unit which will be put towards its $15.3bn acquisition of XL Group.Thu 26 Apr 2018
NewsResults(Re)insurers must continue to diversify investments: KKRThe diversification of investments by (re)insurers will be crucial to navigating a challenging investment climate in the coming years, a new report by private equity house and broker owner KKR has said.Wed 25 Apr 2018
NewsPool Re picks GC Securities for 2019 ILS placementUK terrorism mutual Pool Re has appointed GC Securities to advise on a potential 2019 ILS issuance which would be a ground-breaking first for the fast-expanding alternative reinsurance markets, re-Insurance.com can reveal.Wed 25 Apr 2018
NewsPeople MovesAlesco swoops on JLT for seven-strong construction teamAlesco, the expansive London market broker, has plucked seven long-standing employees from rival JLT’s construction business, re-Insurance.com can reveal.Wed 25 Apr 2018
NewsPeople MovesAon gives Case and Davies three more years at the topAon Group CEO Greg Case and finance chief Christa Davies have had their contracts extended for a further three years with the broker after over a decade at the helm.Wed 25 Apr 2018
NewsResultsMarkel’s profits slide 18% despite underwriting improvementMarkel’s profits sank by 17.5 percent to $105mn in the first quarter in spite of an improved combined ratio performance that saw underwriting return to the black.Wed 25 Apr 2018
NewsAccredited inks new program partnership with Florida MGA RenaissanceThe US arm of R&Q has closed its second new US 2018 programme underwriting arrangement today (25 April) in a partnership with the Miami-headquartered Renaissance Managing General Agency.Wed 25 Apr 2018
NewsResultsChubb hits the mark in Q1 despite $380mn P&C cat billGlobal carrier Chubb met Wall Street’s expectations for the first quarter with earnings per share of $2.34 despite suffering a series of catastrophes which dealt a 5.6 percent hit to the group’s P&C combined ratio.Wed 25 Apr 2018
NewsResultsReserve charge pushes Qatar Re and Antares owner to underwriting lossQatar Insurance Company, which owns Qatar Re and Antares, was forced to bolster reserves as it fell to an underwriting loss in a first quarter in which the carrier slashed its reinsurance spending.Wed 25 Apr 2018
NewsResultsPremiums up at WR Berkley despite shrinking reinsurance bookUS carrier WR Berkley has reported a slight uptick in gross written premium (GWP) for the quarter, despite the reinsurance segment narrowing by 15 percent in the three months of the year.Wed 25 Apr 2018
NewsLegacyArch seals $400mn legacy deal with CatalinaArch Re has entered into a $400mn legacy deal with run-off giant Catalina to reinsure its book of US specialty casualty exposures and program business, the Bermudian announced today.Tue 24 Apr 2018