AmTrust: The Winners and Losers

After weeks of wrangling and looming uncertainty about whether or not it would get over the line, AmTrust’s CEO and his wife’s family have finally won out in their bid to take the firm private in a $2.95bn deal with Stone Point which has faced substantial opposition from activist and ...

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Rising yield rates make short-term dent on Q1 carrier earnings

If one of the main themes of the recent results season was the signs of upward rate movements after last year’s cat events, a sub-theme was the typically poor investment return of many carriers and the impact of rising interest rates on fixed income portfolios in Q1 2018.


PE interest in London brokers blooms again despite challenges

JC Flowers’ acquisition of niche London market brokers SSL and Endeavour marks a growing trend of private equity firms purchasing stakes in distributors, with a particular flurry of activity sweeping the London market.

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Berkshire Hathaway’s return to insurance profit outshines equity loss

It is never nice to post a $6.2bn loss in your equity portfolio in one quarter - least of all when you are Berkshire Hathaway, the company famous for its stock picking boss - but that load looks a little lighter when your (re)insurance operations return to profitability and it ...

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Reinsurers fail to secure meaningful Florida rate hikes

Talk of meaningful reinsurance rate hikes for Florida business appear to have resulted in very little actual movement in price as details of the key 1.6 renewal start to emerge.


US and Bermuda carriers strong out of the blocks for Q1

Early reporting US and Bermudian (re)insurers have posted a strong underwriting performance for the first quarter despite a spate of catastrophes across North America which have blighted the results of several outliers.

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Looking at the wrong A?

With Aspen first round bids due at the end of this week, looks at its larger Bermudian peer Axis which has a more credible track record, trades on a lower multiple and owns a better insurance franchise.

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Reinsurers run 105 percent combined ratio for 2017

The reinsurance sector posted a hefty 104.8 percent combined ratio last year as the market was stung by $144bn of losses from natural catastrophes, broker Willis Re has said.

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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. 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 shows.

lloyds combined ratio in heavy cat years

2017: Lloyd’s annus horribilis provides a full analysis of the Lloyd’s numbers…

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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.