Axis Capital's insurance segment saw fourth quarter gross written premiums increase 47%, bolstered by the group’s acquisition of London market carrier Novae.
Reinsurance renewal rates were beaten down on 1 January by alternative capital markets, Aon Benfield’s CEO said, warning they are poised to be a major disrupter against traditional reinsurance in future.
This week the results season well and truly got underway with big names in the UK’s insurance sector reporting back to market on how they fared over 2017.
Chubb reported net income for the fourth quarter ended December 31, 2017 of $1.53bn, a drop from the $1.61bn reported for the same quarter last year.
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.
Lloyd’s carrier Beazley said it expects to post a pre-tax profit for 2017, ahead of market expectations and in despite of hefty nat cat bills in the fourth quarter.
AM Best is maintaining a negative outlook for the US property and casualty reinsurance sector due to continued pressure on property catastrophe rates.
Munich Re and Easyjet have teamed up on a flight cancellation insurance product.
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
John Eves has replaced Jonathan Clarke as president of the Chartered Institute of Loss Adjusters. Eves will balance his new responsibility alongside his role as managing director of Irish loss adjusting firm, Thornton & Partners. The new Cila president,…
The Lloyd’s market has paid claims worth $1.7bn in response to windstorms Harvey, Irma and Maria.
Improved pricing for London Market insurers in 2018 may not be enough to relieve the pressure on underwriting results from high expenses and lower reserve releases, according to Fitch Ratings.
Recent natural catastrophe activity across the Atlantic has sped up Ascot’s expansion plans, the group's CEO told Post.
Catastrophe loss analysts Perils has pegged the market loss for Ex-Hurricane Ophelia which battered the coast of Ireland, at €60m.
Prices in non-life insurance and reinsurance are expected to increase as a result of the recent nat cat activity across the Atlantic, Swiss Re has said.
MS Amlin owner MS&AD Insurance Group could see losses of over $972m (£734m) as a result of second quarter nat cat losses including hurricanes Harvey, Irma and Maria as well as earthquakes in Mexico.
Generali posted a 9.9% drop in nine-month profits due to a loss on the sale of its Dutch business
The Prudential Regulation Authority has published final rules setting out how it will authorise and supervise insurance special purpose vehicles, which will be used to issue insurance linked securities in the UK.
Munich Re has posted a €1.4bn (£1.2bn) loss for the third quarter as the impact of natural catastrophes in the US and Caribbean take their toll on results.
International cargo theft has a huge impact on the frequency and severity of insurance claims and the problem is increasing.
The insurance industry is worried about the energy sector. This already complicated and fragmented industry is getting more complex, especially with pressure from governments to increase production from renewable sources, just as the risks it faces are…