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Mind the gap...

Why is there still such a large gap between the overall 2017 cat loss estimates and what companies are reporting?

Mon 26 Feb 2018

High prices and debt put Berkshire off 2017 acquisitions

News

Results

High prices and debt put Berkshire off 2017 acquisitions

Seemingly high valuations and an M&A environment fuelled by cheap debt were behind Berkshire Hathaway’s muted acquisition activity in 2017 despite Warren Buffett’s firm sitting on some $116bn of dry powder.

Mon 26 Feb 2018

QBE Europe to continue LatAm expansion despite sale of business unit

News

Results

QBE Europe to continue LatAm expansion despite sale of business unit

The European arm of QBE will continue to expand its footprint in South America despite selling off its operation on the continent.

Mon 26 Feb 2018

News

Results

CBL puts itself into administration

Embattled New Zealand carrier CBL Group has placed itself into voluntary administration in the wake of a High Court order forcing it to put its insurer into interim liquidation late last week.

Mon 26 Feb 2018

News

People Moves

Pioneer founder Doherty bows out

London MGA Pioneer’s long-serving CEO and founder Darren Doherty is to depart the company.

Mon 26 Feb 2018

Aegis syndicate remains in the black as it looks to up 2018 capacity

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Results

Aegis syndicate remains in the black as it looks to up 2018 capacity

Aegis’ Lloyd’s unit has posted a 99 percent combined ratio for 2017 despite “substantial headwinds” from the Mexico earthquakes and California wildfires.

Mon 26 Feb 2018

Calamos doubles down in $41.7mn Exin dispute

News

M&A

Calamos doubles down in $41.7mn Exin dispute

Greek-American billionaire John Calamos has upped the ante in his dispute with Matt Fairfield’s Exin after he filed another lawsuit against the pan-European carrier in its home jurisdiction of the Netherlands.

Mon 26 Feb 2018

UPDATE: Hiscox recovers to close down 2%

News

Results

UPDATE: Hiscox recovers to close down 2%

Hiscox’s shares have pared earlier losses to close down 2 percent at 1367p after falling as much as 5 percent on the back of a challenging set of full year 2017 results this morning (26 February).

Mon 26 Feb 2018

QBE sells LatAm business to Zurich as it confirms $1.25bn 2017 loss

News

M&A

QBE sells LatAm business to Zurich as it confirms $1.25bn 2017 loss

QBE’s new CEO Pat Regan has taken his first steps in simplifying the Sydney-headquartered (re)insurance group by selling its Latin American operations to rival Zurich for $409mn.

Mon 26 Feb 2018

Berkshire Hathaway’s $3bn cat bill sends it to $3.2bn P&C loss

News

Results

Berkshire Hathaway’s $3bn cat bill sends it to $3.2bn P&C loss

Berkshire Hathaway has revealed that a $3bn catastrophe bill from last year’s hurricanes has pushed it to a $3.2bn pre-tax underwriting loss for 2017.

Sat 24 Feb 2018

US tax reforms prompt new James River Bermudian vehicle

News

Results

US tax reforms prompt new James River Bermudian vehicle

James River Group has set-up a new subsidiary - Carolina Re - in response to tax reforms in the US passed by the Trump administration last December.

Fri 23 Feb 2018

New Zealand regulator puts CBL into liquidation

News

Legacy

New Zealand regulator puts CBL into liquidation

The Reserve Bank of New Zealand has won a court order to place CBL Insurance into interim liquidation amid concerns about the adequacy of the construction specialist’s reserving practices.

Fri 23 Feb 2018

Comment

Legal/ Regulatory

Regulatory barriers

The Chinese authorities are getting tougher on its insurance industry and its executives…

Fri 23 Feb 2018

Chinese authorities take over Anbang as chairman awaits prosecution

News

Legal/ Regulatory

Chinese authorities take over Anbang as chairman awaits prosecution

The China Insurance Regulatory Commission (CIRC) has announced it has taken control of the country’s insurance giant Anbang as the company’s chairman An Xiaobohu faces prosecution for alleged “economic crimes”.

Fri 23 Feb 2018

Swiss Re’s $400mn wildfire bill contributes to $1.2bn P&C loss

News

Results

Swiss Re’s $400mn wildfire bill contributes to $1.2bn P&C loss

Swiss Re has revealed that wildfires in California contributed to a full year catastrophe bill of $4.7bn, helping to push the group’s property and casualty operations to a $1.15bn loss for last year.

Fri 23 Feb 2018

News

Legacy

Enstar seals deal with Zurich for AUD$350mn legacy motor book

Enstar has entered an agreement with an Australian subsidiary of Zurich Insurance Group to reinsure its New South Wales motor vehicle compulsory third party (CTP) insurance business.

Fri 23 Feb 2018