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Willis reinsurance revenues post 4% Q4 organic growth

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Results

Willis reinsurance revenues post 4% Q4 organic growth

Willis Towers Watson’s investment, risk and reinsurance unit reported solid 4 percent organic growth in the fourth quarter to take headline income to $300mn for the period.

Thu 8 Feb 2018

News

Beazley mulls entering UK ILS market

London (re)insurer Beazley Group has confirmed it is exploring an entry into the nascent UK ILS market.

Thu 8 Feb 2018

CBL shares now halted amid Gibraltar ‘dommages ouvrage’ concerns

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CBL shares now halted amid Gibraltar ‘dommages ouvrage’ concerns

New Zealand-listed carrier CBL has had its shares suspended by the country’s stock exchange days after it announced a NZ$100mn reserve strengthening to deal with deteriorations in controversial Gibraltar-written French construction business.

Thu 8 Feb 2018

Axis just beats Street estimates with $20mn profit

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Results

Axis just beats Street estimates with $20mn profit

Axis just beat the expectations of Wall Street to deliver a $20mn operating profit for the final quarter of last year.

Thu 8 Feb 2018

Hiscox shifts US chief to new London global retail unit

News

People Moves

Hiscox shifts US chief to new London global retail unit

Hiscox has moved its US CEO Ben Walter to London to head up a newly-formed global retail division from the beginning of July.

Thu 8 Feb 2018

News

Results

Zurich shares up on 2017 earnings beat

Zurich’s share price was up 3 percent in early trading today (8 February) as investors welcomed a better than expected 2017 result and the first increase in its dividend for seven years.

Thu 8 Feb 2018

Scor seals 4% renewal premium growth at 1/1

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Results

Scor seals 4% renewal premium growth at 1/1

Scor managed to grow its premium income by 3.7 percent on a constant currency basis at the January renewals, taking its total top line to EUR3.1bn ($3.8bn).

Thu 8 Feb 2018

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Results

UPDATE: Beazley closes up 6% after full year results

Shares in Beazley were trading hands for £5.61 a piece, up 5.5 percent, when the London Stock Exchange closed today, after the Lloyd’s (re)insurer released its fourth quarter results.

Thu 8 Feb 2018

Swiss Re confirms possible $10bn investment from Softbank

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Results

Swiss Re confirms possible $10bn investment from Softbank

Swiss Re has confirmed reports that Japanese investment giant Softbank is mulling a significant minority investment that could see it acquire around 30 percent of the European reinsurance powerhouse.

Thu 8 Feb 2018

Aspen loss better than expected but ‘well below’ acceptable levels

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Results

Aspen loss better than expected but ‘well below’ acceptable levels

Aspen has delivered a $178.1mn fourth quarter operating loss that was not as bad as analysts had expected but still “well below acceptable levels” according to the Bermudian’s chief exec Chris O’Kane.

Thu 8 Feb 2018

XL shares soar as Wall Street acquisition rumours reach fever pitch

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M&A

XL shares soar as Wall Street acquisition rumours reach fever pitch

Shares in XL Group were trading up by more than 12 percent as markets closed on Wednesday after reports that potential acquirers were circling the Bermuda-headquartered group.

Wed 7 Feb 2018

Valuations further deter Everest Re from large-scale M&A

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Valuations further deter Everest Re from large-scale M&A

Everest Re shares up almost ten percent since 4Q earnings. Re-Insurance’s summary of the Everest Re 6 February investor call.

Wed 7 Feb 2018

Aon places mammoth $1.36bn World Bank earthquake cat cover

News

Parametric

Aon places mammoth $1.36bn World Bank earthquake cat cover

Aon Securities has put together a $1.36bn catastrophe bond for the World Bank which gives the institution cover for earthquake risks in Chile, Mexico, Colombia and Peru.

Wed 7 Feb 2018

News

Results

Markel escapes worst of US Q4 losses

Markel Corporation appears to have avoided the worst of the loss-hit end to 2017 after it posted an 83 percent combined ratio in its US insurance business for the fourth quarter.

Wed 7 Feb 2018

AM Best downgrades CBL to B++ following Gibraltar under-reserving

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Results

AM Best downgrades CBL to B++ following Gibraltar under-reserving

The New Zealand (re)insurer CBL Corp has seen AM Best downgrade its financial strength rating below the watershed A- rating following revelations earlier this week that it was significantly under-reserved for a controversial class of French construction business written out of Gibraltar.

Wed 7 Feb 2018

Hurricanes and wildfires drive US P&C underwriting 2017 loss: AM Best

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Results

Hurricanes and wildfires drive US P&C underwriting 2017 loss: AM Best

Hurricanes and wildfires in the third and fourth quarter of 2017 pushed US property and casualty (P&C) business to a loss for the year, according to AM Best.

Wed 7 Feb 2018