Financial and results news

  • Argo

    Argo forecasts $32mn Q4 nat cat bill


    Bermudian carrier Argo expects its fourth quarter 2018 results to be hit by pre-tax catastrophe losses of $32mn, primarily related to Hurricane Michael and the California Wildfires.

  • BB&B Q4 results

    McGriff, CRC 4Q revenues leap to record $487mn


    North Carolina-headquartered financial services group BB T said broking revenues in its insurance holdings arm climbed to a “record” $487mn in the fourth quarter 2018.

  • JLT-Re-global-prop-cat-index-dips-1.2-percent-1.1-i

    P&C insurers report $4.7bn underwriting gain over 2018


    Private US property and casualty insurers reported a $4.7bn net underwriting gain in the nine-months to September 2018, a sharp turnaround from a $21bn underwriting loss a year earlier, according to Verisk.

  • David-Howden-Hyperion

    Hyperion earnings up 19 percent at full year


    Hyperion - which owns Howden, RKH and Dual - saw profits climb by 19 percent to £181mn ($231mn) in the 12 months leading up to the end of September last year.

  • motor

    Motor pricing and claims costs lead to Direct Line earnings pressure in 2019


    Direct Line Group faces margin compression over 2019 as weak motor pricing and increased claims costs in 2018 point to challenging conditions for the insurer, according to Numis Securities.

  • Dan Glaser

    MMC issues $5bn debt to finance JLT deal


    MMC will shortly issue $5bn of senior debt that will ensure the New York-headquartered firm doesn’t require a more expensive bridging loan to fund its $5.6bn JLT acquisition.

  • UPC 6 month share price IM

    UPC extends QS deal and renews aggregate cover


    Florida-based United Insurance Holdings (UPC Insurance) has extended its quota share deal with Munich Re, TransRe and Gen Re for five months and renewed other treaties outside its core 1 June-incepting cat excess-of-loss cover.

  • JLT-Re-global-prop-cat-index-dips-1.2-percent-1.1-i

    JLT Re global cat index dips 1.2 percent at 1.1


    Average global property cat reinsurance rates tracked by JLT Re actually fell by 1.2 percent at 1.1 despite the industry’s $80bn+ of 2018 losses.

  • Albert-Benchimol

    Benchimol to remain at Axis until 2023


    Axis has extended the contract of its CEO Albert Benchimol by a further five years, with the exec now set to remain at the helm of the Bermudian carrier until the end of 2023.

  • Ken-Randall

    Numis adds £15mn to R&Q FY19 estimate


    Numis Securities has upped its profit estimate for R Q’s full year 2019 results by £15mn after the London-listed firm confirmed its largest ever legacy acquisition will now complete later than anticipated.