Berkshire Hathaway Q2 results

Berkshire Hathaway Q2 underwriting earnings more than double despite reinsurance loss

2020-08-08T14:00:00+01:00

Warren Buffett’s Berkshire Hathaway has reported increased net earnings across the entire group in the second quarter, while underwriting earnings of $1.05bn reflected a Geico contribution driven by lower claims frequency during Covid-19 that outweighed a $1.10bn underwriting loss in the reinsurance group.

Beirut port image

Beirut explosion hull, cargo and port insured losses “within $250mn”: Guy Carp

2020-08-08T00:33:00+01:00

Total combined hull, cargo and port facility insurance losses from the explosion in the Port of Beirut on Tuesday “should be within $250mn”, according to early analysis from Guy Carpenter.

II-PoliticalRisk-Globe

Potential for London Market political risk contraction as Covid bites and carriers exit

2020-08-08T03:15:00+01:00

Covid-19 could lead to a contraction in aggregate stamp capacity within EC3’s credit risk, contract frustration and political risk markets in the next two to five years, with some carriers already placing their operations into run-off, a new report from Arthur J Gallagher highlights

Paresh Patel – HCI

HCI share price soars 27% after revealing ambitious growth plans

2020-08-08T00:34:00+01:00

Investors have sent HCI’s share price soaring after the carrier reported strong growth in second quarter premiums and hyped the potential of its insurtech subsidiary TypTap.

Sirius share price

AM Best notes CMIG risk in SiriusPoint while investors send both stocks soaring

2020-08-07T22:08:00+01:00

Ratings agencies and investors have been responding to Third Point Re’s announced $788mn acquisition of Sirius International Insurance Group, with AM Best and S&P both commenting on the role of China Minsheng Investment Group (CMIG) and the share prices of both (re)insurers increasing.

Beirut port image

Beirut explosion hull, cargo and port insured losses “within $250mn”: Guy Carp

2020-08-08T00:33:00+01:00

Total combined hull, cargo and port facility insurance losses from the explosion in the Port of Beirut on Tuesday “should be within $250mn”, according to early analysis from Guy Carpenter.

II-PoliticalRisk-Globe

Potential for London Market political risk contraction as Covid bites and carriers exit

2020-08-08T03:15:00+01:00

Covid-19 could lead to a contraction in aggregate stamp capacity within EC3’s credit risk, contract frustration and political risk markets in the next two to five years, with some carriers already placing their operations into run-off, a new report from Arthur J Gallagher highlights

Paresh Patel – HCI

HCI share price soars 27% after revealing ambitious growth plans

2020-08-08T00:34:00+01:00

Investors have sent HCI’s share price soaring after the carrier reported strong growth in second quarter premiums and hyped the potential of its insurtech subsidiary TypTap.

Sirius share price

AM Best notes CMIG risk in SiriusPoint while investors send both stocks soaring

2020-08-07T22:08:00+01:00

Ratings agencies and investors have been responding to Third Point Re’s announced $788mn acquisition of Sirius International Insurance Group, with AM Best and S&P both commenting on the role of China Minsheng Investment Group (CMIG) and the share prices of both (re)insurers increasing.

Sid Sankaran – TPRe and Sirius

Sankaran looks to refocus and reinvigorate merged SiriusPoint

Third Point Re and Sirius have revealed further details of their merger in an investor presentation and call, including outlining what the combined entity will look like and detailing the role of hedge fund Third Point LLC, while Sirius investors have sent its share price soaring.

Evercore

Evercore leads league table of industry fund raising

New York-headquartered Evercore has emerged as the dominant name among (re)insurers looking for an advisory firm to help them launch or scale up, an analysis by The Insurer reveals.

Hiscox share price

Hiscox now puts focus on specialty and reinsurance as “big ticket” rate hardening accelerates

Hiscox plc plans to deploy additional capital in the London market as it takes advantage of the improving pricing environment in many specialty and reinsurance classes.

Sid Sankaran – TPRe and Sirius

Sankaran looks to refocus and reinvigorate merged SiriusPoint

Third Point Re and Sirius have revealed further details of their merger in an investor presentation and call, including outlining what the combined entity will look like and detailing the role of hedge fund Third Point LLC, while Sirius investors have sent its share price soaring.

Evercore

Evercore leads league table of industry fund raising

New York-headquartered Evercore has emerged as the dominant name among (re)insurers looking for an advisory firm to help them launch or scale up, an analysis by The Insurer reveals.

Hiscox share price

Hiscox now puts focus on specialty and reinsurance as “big ticket” rate hardening accelerates

Hiscox plc plans to deploy additional capital in the London market as it takes advantage of the improving pricing environment in many specialty and reinsurance classes.



2 + 2 = 5?

Can 2+2 = 5 (TPRe and Sirius)?

Cynics may be tempted to cruelly dismiss the proposed $788mn merger* of Third Point Re and Sirius – announced yesterday evening – as two drunks propping each other up at the bar.

Confirmed post-Covid-19 capital

Covéa’s Eur750mn move highlights scale-ups and sidecars preferred to start-ups…

Covéa’s move to put Eur750mn into PartnerRe-managed special purpose vehicles looks like a compromise that gains the French mutual fast access to a hardening reinsurance market without a full-blown acquisition. But it also points to a growing consensus that scale-ups rather than start-ups will dominate the Covid-19 landscape.

Insurtech

Is the end nigh for the term ‘insurtech’?

Willis Towers Watson’s latest quarterly insurtech briefing included a provocative suggestion: is it time to stop labelling companies as insurtechs?

2 + 2 = 5?

Can 2+2 = 5 (TPRe and Sirius)?

Cynics may be tempted to cruelly dismiss the proposed $788mn merger* of Third Point Re and Sirius – announced yesterday evening – as two drunks propping each other up at the bar.

Confirmed post-Covid-19 capital

Covéa’s Eur750mn move highlights scale-ups and sidecars preferred to start-ups…

Covéa’s move to put Eur750mn into PartnerRe-managed special purpose vehicles looks like a compromise that gains the French mutual fast access to a hardening reinsurance market without a full-blown acquisition. But it also points to a growing consensus that scale-ups rather than start-ups will dominate the Covid-19 landscape.

Insurtech

Is the end nigh for the term ‘insurtech’?

Willis Towers Watson’s latest quarterly insurtech briefing included a provocative suggestion: is it time to stop labelling companies as insurtechs?