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It’s bad out there… but is it that bad?

Many ILS investors take a very binary approach and M&A is encouraging a de-leveraging effect. Florida 1.6 renewals may be disappointing but there are still grounds for optimism…

Lloyd's analysis

Lloyd’s sale rush raises existential questions

The recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.

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Bermuda stocks back in vogue as M&A bonanza fuels strong returns

With M&A speculation swirling, Bermuda is now on top of would-be buyers’ wishlists - and now everyone is a potential target. Re-Insurance.com digs into the numbers to see who has emerged as the market’s darling at the end of Q1…

Thomas Buberl, CEO Axa

Will XL’s $15.3bn M&A SEC proxy filing pile more pressure on AXA’s Buberl?

Axa’s rival Allianz is widely believed to be the XL Group under-bidder. If there is a big discrepancy in prices offered then it may fuel further Axa shareholder ire in the direction of its youthful German CEO…

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Lloyd’s non-exec salaries up despite £2bn loss

Lloyd’s annual results last week revealed that salaries across the Corporation climbed to £89mn ($126mn) last year, up from £84mn in 2016, analysis by re-Insurance.com shows.

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2017: Lloyd’s annus horribilis

Re-Insurance.com provides a full analysis of the Lloyd’s numbers…

Lloyds performance 2013 2017

Cat losses force Lloyd’s reckoning

Lloyd’s has managed to keep itself profitable over the last few years despite the toughest market many can remember- but now that its run of benign luck has come to an end the market needs to come up with longer term solutions.

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Axis and XL Catlin to benefit long-term from rising interest rates

As interest rates continue to nudge upwards, (re)insurers including Axis, Maiden Holdings, Travelers and XL Capital will be likely long-term beneficiaries, according to research by JMP Securities analyst Matt Carletti.

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Where next for Allianz following Axa’s $15.3bn leapfrog?

With the news this morning that Axa is to acquire tier one Bermudian (re)insurer XL for an extraordinary 1.55x NTA, the board at Allianz may be licking their wounds.

Mind the gap

Mind the gap...

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

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Why Gibraltar’s French construction storm may spread beyond CBL

Why has the French construction class “dommages-ouvrage” blown a hole in CBL’s balance sheet and will other (re)insurers be affected?

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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.

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Results Round-up: Brokers fly as carriers nosedive

The Q4 results season kicked-off in earnest last week with a boost for the brokers after solid performances by Brown & Brown and Arthur J Gallagher (AJG) while the first signs of a hard-loss quarter for carriers emerged.

Lloyd's

Lloyd’s expense ratios balloon as company market resists rises

Lloyd’s combined acquisition and administrative expense ratio hit 40.6 percent in 2016 as the Corporation continued to underperform its company market competitors despite a concerted efficiency drive and attempts to modernize the market.