Matt Fairfield’s beleaguered Exin is expected to enter liquidation tomorrow (15 June) following a wind-up petition being issued by HM Revenue & Customs.
Global alternative reinsurance capital had climbed to $95bn by the end of first quarter, an increase of 7 percent from the end of 2017, according to estimates by Aon Benfield.
Hannover Re owner Talanx managed to grow profits in the first half of the year despite an uptick in German fire and property losses in its industrial lines unit.
Japanese carrier Tokio Marine Holdings expects to pay out 50bn yen ($451.8mn) for losses stemming from heavy rain in the country last month.
Soon-to-be private US insurer AmTrust saw its combined ratio balloon to 106.1 percent in the second quarter after booking another reserve charge.
Profits at Japanese giant Sompo’s eponymous international unit, which was built out of the 2016 acquisition of Endurance, dipped 4.5 percent in the most recent quarter after a modest spike in the segment’s combined ratio.
The CEO and finance boss of Maiden have both stepped down in the wake of a poor second quarter that saw the Bermudian fall to an unexpected loss after taking a reserve charge on a book of business written for its sister company AmTrust.
German powerhouse Munich Re’s property and casualty reinsurance division was pushed to an underwriting loss in the second quarter as a significant bill for man-made disasters sent its combined ratio over 100 percent.
Bermudian Argo surpassed the expectations of analysts in the second quarter with a $32.9mn profit driven by an improvement in the combined ratio.
Swiss Re has posted a 38 percent year-on-year bump in property and casualty net income, which leapt to $752mn for the first half of the year on the back of improved underwriting returns.
Fairfax-owned carrier Brit stopped underwriting international professional indemnity and general aviation in the first six months of the year as modest rates increases failed to deliver the anticipated boost to profits.