Chubb Q3 results

Chubb improves combined ratio in record Q3 UW result despite $1.15bn cat bill

2021-10-26T21:08:00+01:00

Chubb shook off $1.15bn of pre-tax catastrophe losses to report a 27.5 percent increase in Q3 core operating income to $1.16bn to comfortably beat analysts’ consensus estimates as it also shaved 180 basis points from its P&C combined ratio.

Kevin O’Donnell – RenaissanceRe

RenRe CEO: Demand-supply imbalance could drive double-digit property cat increases at 1.1

2021-10-26T16:52:00+01:00

RenaissanceRe CEO Kevin O’Donnell has said he expects to see rate increases on property cat reinsurance in the double-digit range at 1 January as demand increases from buyers and supply is impacted by a squeeze on retro capacity.

James River Q3 results

James River set for Q3 loss on cats, LPT and casualty reinsurance reserve charge

2021-10-26T13:27:00+01:00

James River has preannounced a third quarter adjusted net operating loss of between $25.5mn and $28.5mn and a combined ratio in the 120-125 percent range that was impacted by adverse development in casualty reinsurance, cat losses and an expected loss portfolio transfer charge relating to its discontinued Uber book.

IM-JamesRiver-Bermuda

JMP: Casualty Re now the ‘elephant in the room’ for James River as stock dives 16%

2021-10-26T21:54:00+01:00

James River needs to find a long-term solution to halt adverse development on its casualty reinsurance book after a profit warning today sent its share price sliding by more than 16 percent, according to JMP Securities analyst Matt Carletti.

Parker Smith & Feek and IMA – 2

PE-backed IMA completes largest ever acquisition with PS&F deal

2021-10-26T17:12:00+01:00

IMA Financial Group has bolstered its operations in the Pacific Northwest, Alaska and Hawaii with the acquisition of Washington-based Parker, Smith & Feek (PS&F) in a deal that is the largest in its history and will push the fast-growing US broker’s projected 2022 revenues to between $400mn and $500mn.

Kevin O’Donnell – RenaissanceRe

RenRe CEO: Demand-supply imbalance could drive double-digit property cat increases at 1.1

2021-10-26T16:52:00+01:00

RenaissanceRe CEO Kevin O’Donnell has said he expects to see rate increases on property cat reinsurance in the double-digit range at 1 January as demand increases from buyers and supply is impacted by a squeeze on retro capacity.

James River Q3 results

James River set for Q3 loss on cats, LPT and casualty reinsurance reserve charge

2021-10-26T13:27:00+01:00

James River has preannounced a third quarter adjusted net operating loss of between $25.5mn and $28.5mn and a combined ratio in the 120-125 percent range that was impacted by adverse development in casualty reinsurance, cat losses and an expected loss portfolio transfer charge relating to its discontinued Uber book.

IM-JamesRiver-Bermuda

JMP: Casualty Re now the ‘elephant in the room’ for James River as stock dives 16%

2021-10-26T21:54:00+01:00

James River needs to find a long-term solution to halt adverse development on its casualty reinsurance book after a profit warning today sent its share price sliding by more than 16 percent, according to JMP Securities analyst Matt Carletti.

Parker Smith & Feek and IMA – 2

PE-backed IMA completes largest ever acquisition with PS&F deal

2021-10-26T17:12:00+01:00

IMA Financial Group has bolstered its operations in the Pacific Northwest, Alaska and Hawaii with the acquisition of Washington-based Parker, Smith & Feek (PS&F) in a deal that is the largest in its history and will push the fast-growing US broker’s projected 2022 revenues to between $400mn and $500mn.



GC’s Davis: Cyber rate just one lever to offset ransomware impact

2021-10-21T01:45:00+01:00

Reinsurers are approaching cyber coverages with greater caution in response to the surge in ransomware attacks, with both carriers and cedants narrowing terms and tightening limits, Guy Carpenter’s global co-heads of cyber Erica Davis and Anthony Cordonnier have said on a special Baden-Baden edition of Close Quarter.

Viewpoint

  • Jessica Turner wildfire

    Data-driven advancements in European wildfire risk management

    2021-10-18T06:27:00+01:00

    As greater regulatory and industry attention is paid to the evolving risk landscape, Guy Carpenter’s Dr Jessica Turner explains why a data-driven approach to assessing and managing wildfire risk is beneficial.

  • EY mutuality

    Growth through differentiation: four principles for mutual insurers

    2021-10-13T15:16:00+01:00

    Mutual insurers represent an important and growing sub-segment of the overall insurance market, with some of the most prominent and successful brands in the industry. Just as the strategic priorities of stock carriers are changing, mutuals also face an evolving landscape, with fast-rising customer expectations, new competitive threats and disruptive ...

  • Caroline Wagstaff is the CEO of the London Market Group

    The London market agenda for action…

    2021-10-12T06:52:00+01:00

    LMG’s new CEO outlines her immediate priorities and emphasises the importance of speaking with one voice.

More Viewpoint

Chubb – Lloyd's

Chubb Global Markets’ list of high-profile exits continues to mount as Slevin leaves for TMK

Last week, Lloyd’s aviation underwriter David Slevin became the latest senior underwriter to leave the London market arm of global insurer Chubb.

Lloyds building

Prices rise at first Lloyd’s capacity auction as pre-emption offers fall

Expectations of a continued buoyant underwriting environment helped fuel average price increases of traded capacity at the first Lloyd’s syndicate auction last week.

Howden

Howden: Disaster relief innovation could help unlock $1.5trn pension fund capital

As much as $1.5trn in pension fund capital could be available to deploy in the (re)insurance space to help close the catastrophe protection gap, according to a study by Howden published today.

Chubb – Lloyd's

Chubb Global Markets’ list of high-profile exits continues to mount as Slevin leaves for TMK

Last week, Lloyd’s aviation underwriter David Slevin became the latest senior underwriter to leave the London market arm of global insurer Chubb.

Lloyds building

Prices rise at first Lloyd’s capacity auction as pre-emption offers fall

Expectations of a continued buoyant underwriting environment helped fuel average price increases of traded capacity at the first Lloyd’s syndicate auction last week.

Howden

Howden: Disaster relief innovation could help unlock $1.5trn pension fund capital

As much as $1.5trn in pension fund capital could be available to deploy in the (re)insurance space to help close the catastrophe protection gap, according to a study by Howden published today.

Perils

Riskier business

While there is still just over a month to go in the 2021 Atlantic hurricane season, activity has been relatively light since the devastation caused by Ida at the end of August.

Target Markets

Letter from Target Markets: back to deal-making

Two years is a long time in the program market. And last week’s long-anticipated return of the Target Markets Program Administrators Association Summit brought a record attendance as well over 900 delegates descended on Scottsdale, Arizona thirsty for a return to large-scale face-to-face interaction.

Baden Baden

A postcard from Baden-Baden…

After last year’s hiatus, this week saw the return of the Baden-Baden reinsurance symposium at the elegant German spa town. Inevitably delegate numbers were down but The Insurer was still there to take the pulse of the European reinsurance markets.

Perils

Riskier business

While there is still just over a month to go in the 2021 Atlantic hurricane season, activity has been relatively light since the devastation caused by Ida at the end of August.

Target Markets

Letter from Target Markets: back to deal-making

Two years is a long time in the program market. And last week’s long-anticipated return of the Target Markets Program Administrators Association Summit brought a record attendance as well over 900 delegates descended on Scottsdale, Arizona thirsty for a return to large-scale face-to-face interaction.

Baden Baden

A postcard from Baden-Baden…

After last year’s hiatus, this week saw the return of the Baden-Baden reinsurance symposium at the elegant German spa town. Inevitably delegate numbers were down but The Insurer was still there to take the pulse of the European reinsurance markets.