London H1

London specialty carriers’ H1 earnings bode well for Lloyd’s mid-year results

2022-08-12T06:52:19.963+01:00

Most London specialty markets have unveiled improved underwriting profits and a surge in premiums for the first half of 2022. Putting aside investment losses, the performance bodes well for Lloyd’s aggregate H1 results when they are published next month…

Florida

HCI among the few targeting Florida opportunity where others fear to tread

2022-08-10T14:58:00+01:00

The feedback on the Florida homeowners market from second quarter earnings calls does not make pretty reading but one listed carrier in the Sunshine State – HCI – sees opportunity in the crisis.

Russia and Ukraine

Russia-Ukraine: Q2 brings little clarity on losses but changing risk perception already shifting market dynamics

2022-08-10T07:04:00+01:00

Russia-Ukraine-related underwriting losses continued to make a relatively small dent in earnings during the second quarter of 2022, amid a recognition that the more complex components of the loss – notably aviation exposures – will potentially take years to crystallise. 

RISX vs composites

RISX global specialty equity index was only faller across all composites in July

2022-08-09T07:27:00+01:00

The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – recorded a 2.1 percent fall in July, compared to a 9.1 percent rise for the S&P 500.

Syndicate preemptions

Early targeted stamp increases point to largest Lloyd’s capacity on record in 2023

2022-08-08T07:26:00+01:00

Expectations for the “best underwriting environment at Lloyd’s for at least a decade” are a key factor driving a swathe of large revenue increases in syndicates’ early 2023 business plan forecasts.

Gallagher Re

$2.41bn insurtech investment in Q2 up sequentially, down 50% over Q2 2021

2022-08-04T07:30:13.74+01:00

Global investment in the insurtech sector hit $2.41bn in Q2 2022, which was 8.3 percent higher than in Q1 but 50.2 percent below 2021’s record-breaking second quarter, according to Gallagher Re’s latest insurtech report.

Stocks

P&C insurance stocks miss out on global markets July rebound

2022-08-01T07:24:00+01:00

Global equity markets posted their strongest monthly gains since late 2020 last month amid an easing of rate hike expectations and upbeat earnings from Big Tech, but US and European P&C insurance stocks faltered.

AM Best

AM Best: US crop premiums surged in 2021 while results improved

2022-07-29T15:43:00+01:00

An AM Best report has revealed premiums for both the federal multi-peril crop insurance (MPCI) program and private crop products reached record levels in 2021 while underwriting results improved, but the rating agency warned claims activity resulting from significant commodity price volatility is possible this year.

Aviationleadpic 12.01.18

Aviation: The talent take-off

2022-07-18T07:11:00+01:00

The aviation insurance market has been characterised by volatility and uncertainty in recent years, with the global pandemic and now the ongoing war in Ukraine putting pressure on underwriters of the class.

US MGA Sector

Conning: US MGA market growth rate to slow after DPW surged 15.5% in ‘21

2022-07-14T16:49:00+01:00

Direct premiums written (DPW) by MGAs reported in US insurer statutory filings grew 15.5 percent last year to $56bn, with the total size of the market estimated to be $70bn, including $7.1bn of premium sourced by US MGAs for Lloyd’s, according to asset manager and research firm Conning.

US inland Marine

AM Best: US inland marine market to grow further after rebound in 2021

2022-07-14T13:54:00+01:00

The US inland marine line rebounded to pre-Covid-19 levels last year driven by a strong increase in top-line premium and a decline in the loss ratio, according to an AM Best report, with the rating agency predicting continued growth.

Q2 earnings preview

Q2 earnings: book value hit and macro headwinds but will attention turn to reserves?

2022-07-12T15:08:00+01:00

With the Q2 earnings season getting under way in the next week, at carriers there will undoubtedly be interest in commentary around commercial insurance pricing momentum, a post-mortem of mid-year reinsurance renewals and the impact of macroeconomic forces amid surging inflation and rising interest rates.

Gallagher Re Lloyds

Gallagher Re: Lloyd’s narrowing acquisition cost gap on international peers

2022-07-12T12:40:00+01:00

Lloyd’s is continuing to reduce its cost of doing business when compared with international peers, new analysis by Gallagher Re shows.

RISX vs MSCI

Global specialty (re)insurance equity index held up five times better than the overall market in H1 2022

2022-07-08T07:19:00+01:00

The global specialty (re)insurance-focused RISX index – which targets publicly listed companies with underwriting subsidiaries at Lloyd’s – recorded a 3.8 percent fall in net total return terms in the first six months of the year, compared to a 20.5 percent drop on the MSCI World (Net) USD index.

Roe v Wade

More companies weigh in on SCOTUS abortion ruling

2022-07-05T15:14:00+01:00

More companies across the industry – including CNA, Arch, Burns & Wilcox, Truist, QBE North America and Lockton – have responded to last month’s landmark Supreme Court ruling overturning Roe v Wade, with the varied reaction to date illustrating the challenges the sector faces in addressing such a sensitive topic.

Insurer Insurtech composite

Public insurtech market cap halves in H1

2022-07-05T07:26:00+01:00

The carnage among insurtech stocks that started last summer has continued unabated this year with The Insurer’s insurtech composite index recording a fall of 48.7 percent in H1.

Hiscox and Beazley

Hiscox and Beazley outperform as European insurers dragged down in H1 rout

2022-07-04T07:30:00+01:00

The European P&C insurance benchmark index fell in H1 2022 yet still managed to outperform the wider equity markets as shares were hit by recession worries, the Ukraine war, high inflation and interest rate rises, analysis by this publication shows.

ILS

Cat bond investors selecting carefully but strong issuance expected in H2

2022-07-01T20:13:00+01:00

A careful approach from cat bond investors is leading supply to lag strong demand from sponsors with spreads remaining high against a volatile economic backdrop, but issuance in the second half of 2022 is expected to be close to the record levels seen last year.

US stocks

WRB and Hiscox outperform as insurers dragged down in H1 rout

2022-07-01T14:27:00+01:00

US and European P&C insurance benchmark indices fell in the first half of 2022 yet still managed to outperform the wider market during one of the most turbulent first-half trading periods ever seen, analysis by this publication shows.

Mid-year US cat renewals

1.7: Increased demand and reduced supply puts cat reinsurance market at tipping point

2022-06-30T14:31:00+01:00

The current mid-year renewal has been described as the most challenging ever in loss-struck territories like the Southeast US, but the broader dynamics of increased inflation-fuelled demand and reduced reinsurer cat risk appetite mean it could get tougher still for buyers and their brokers in the lead-up to 1 January.