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

2018-02-23T08:29:00+00:00

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.

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

2018-02-23T08:11:00+00:00

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.

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Exin requests extension for EUR720mn Ethniki bid deadline: reports

2018-02-22T13:19:00+00:00

Matt Fairfield’s Exin has written to the Greek regulator to request a 15 day extension for its deadline to line up backing for its proposed acquisition of state-owned carrier Ethniki as the company fights to secure funding for the deal.

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Scor escapes worst of Q4 pain

2018-02-22T08:26:00+00:00

French reinsurer Scor appears to have avoided the worst of the fourth quarter losses after it posted an improved combined ratio of 91.6 percent in its P&C unit for the period.

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Alleghany smashes estimates as cat bill comes in lower than expected

2018-02-22T09:29:00+00:00

Alleghany significantly outperformed expectations in the fourth quarter to deliver a $152.3mn profit that marked a 39.6 percent increase on the same period last year.

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Marsh calls for public-private partnerships to drive cyber take-up

2018-02-22T18:04:00+00:00

President and CEO of Marsh John Doyle has urged the insurance market to work with governments to improve cyber products.

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Axa combined ratio falls to 94.6% as commercial lines improve

2018-02-22T10:01:00+00:00

French insurance giant Axa saw its combined ratio improve marginally by 40 basis points to 94.6 percent for 2017.

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PartnerRe posts 99.3 percent 2017 combined ratio

2018-02-22T08:37:00+00:00

Despite $120mn in net losses from the Q4 California wildfires and over $100bn in industry-wide cat losses for the year, Bermudian reinsurer PartnerRe kept its combined ratio below 100 percent in 2017.

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Tysers delays dividend as Integro sale talks drag on

2018-02-21T16:09:00+00:00

Independent London market broker Tysers has warned shareholders not to expect the year-end dividend to be distributed in February as sale talks with potential acquirer Integro drag on, re-Insurance.com has learned.

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Greenlight Re weighing Lloyd’s syndicate launch

2018-02-21T15:10:00+00:00

Cayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.

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Lloyd’s not ‘particularly proud’ of 28% gender pay gap

2018-02-21T11:13:00+00:00

Females working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).

More news

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What next for Ethniki?

With an apparent deadline later this week, Re-Insurance.com wonders what the team of impressive US and Greek financiers compiled by Ethniki acquirer Exin will do following the recent revelations of legal action between the firm and some of its backers…

Borough Market terrorism

Division where unity is required…

The anti-insurer headlines are easy to imagine. A terrorist once again uses his vehicle to maim and kill and – in the aftermath of the atrocity – the notoriously aggressive British tabloid press seize on the revelation that UK motor insurers have recently changed their coverage to exclude liability for ...

UK Parliament

Pool Re caught in political tides

All too often the insurance industry is the whipping boy for headline-grabbing politicians after a catastrophe, and this was evident in the aftermath of the London Bridge attacks last year.

stock market shares increase

Investors take decisive action in response to Q4 results

Investors were quick to punish carriers that underperformed in a fourth quarter that was plagued by California wildfire losses as they decisively rewarded firms that exceeded expectations in results released last week.

Mike McGavick, XL Group

XL, Aspen and the M&A barometer

As XL Group’s share price spiked over 12 percent last night in the midst of Softbank’s bold wade into the (re)insurance arena with a mooted minority stake in Swiss Re, the industry’s M&A speculation barometer shot through the roof.

Gary Andrews

100+ Tysers staff to benefit from imminent Integro sale

The process has taken the best part of a year but if the £110mn+ sale of the venerable Lloyd’s broker Tysers to Integro completes later in February – as expected – then more than one hundred existing and former Tysers staff will benefit from the sale, analysis by Reinsurance highlights.