MMC

MMC commitment to de-levering and dividend should dispel unrealistic M&A rumor

2021-02-25T20:00:00+00:00

As the Aon-Willis Towers Watson deal continues to grind through the regulatory approval process, there has been plenty of speculation about how the other member of the big three brokers will respond.

Liberty Mutual Insurance

Casualty leads the way as Liberty GRS posts 15% average renewal rate rises in 2020

2021-02-24T08:35:49.637+00:00

Liberty Mutual’s P&C, specialty and reinsurance-focused Global Risk Solutions (GRS) business has become the latest US carrier to highlight strong rate momentum in 2020 with average renewal rate increases of 15 percent and casualty classes leading the way.

Lloyd's 2018 YoA results i

Lloyd’s 2018 YoA on course for 3% capacity loss

2021-02-24T08:15:00+00:00

Early syndicate results for the Lloyd’s 2018 year of account (YoA) are pointing towards a market loss of around 3 percent of capacity, according to Argenta Research, with results to date coming in slightly ahead of the previous quarter’s forecasts.

US winter

Unprecedented Winter Storm Uri creating complex property loss picture

2021-02-23T11:35:00+00:00

As frozen pipes thawed and claims picked up pace in Texas after the weekend, the picture emerging from Winter Storm Uri is of a property insurance loss that is likely to be weighted towards homeowners, habitational and small commercial risks with complexity around claims and quantum of loss.

Overall price increases by company

CEOs confident US rates will continue to outpace loss costs

2021-02-22T14:06:00+00:00

An analysis of US commercial insurance feedback provided by management in earnings releases and on investor calls reveals rate increases continue to accelerate for most, with pricing drivers such as social inflation and the low interest environment expected to persist throughout 2021.

Wall St

Markets Review: FedNat gains despite choppy weak for Wall Street

2021-02-22T13:59:00+00:00

Shares in FedNat Holding Company surged more than 13 percent last week to lead gains among NYSE-listed carriers in a choppy five days of trading that saw Wall Street’s benchmarks break a two-week winning streak.

Share prices

Markets Review: Lancashire falls 7.8% in volatile week for P&C stocks

2021-02-22T10:34:00+00:00

London-listed (re)insurance stocks sold off last week in a volatile five days of trading as a resurgence in sterling applied pressure on blue-chips which make their money overseas.

Map

Global P&C run-off market expands to record size of $864bn

2021-02-19T16:36:00+00:00

The global P&C legacy market expanded by 9 percent over the past year to an all-time high of $864bn, according to analysis by consultancy firm PwC.

Aon North America

North American rate momentum set to temper in H2 2021: Aon

2021-02-19T11:41:00+00:00

Pricing in North America’s insurance market is close to peaking, with the rampant increases seen in recent years expected to temper in the second half of 2021 despite capacity constraints remaining “a serious concern” in certain segments, according to Aon.

QBE

QBE Q4 preview – when will the profit warning cycle end?

2021-02-18T08:29:00+00:00

With QBE’s share price firmly in the doldrums and currently trading at a near 18-year low, the signal from investors to the (re)insurer looks to be clear: patience is wearing thin and decisive steps must be taken to get back on track in market conditions in which a carrier should ...

Peter Zaffino AIG

AIG highlights commercial lines growth and improved underlying CR

2021-02-18T02:23:00+00:00

As expected, AIG’s earnings call on Wednesday morning was dominated by commentary on pricing momentum in the carrier’s general insurance business, as management highlighted a strong commercial lines outlook after reporting solid growth in 2020 and improving underlying underwriting performance.

FCA

FCA test case: Five key areas where the regulator and UK insurers continue to disagree…

2021-02-17T08:28:57.463+00:00

As The Insurer reported earlier today, UK commercial insurers and the Financial Conduct Authority (FCA) are once again disagreeing over Covid-19 losses, this time over some aspects of last month’s landmark Supreme Court judgment.

Derecho storm

Modelling severe convective storms: how data science is helping fill knowledge gaps

2021-02-16T07:44:00+00:00

Severe convective storms were the costliest natural peril for the (re)insurance sector during 2020, with losses of around $30bn, and remain among the most challenging to model.

AM Best EU

Solvency II overhaul will create “consistent” oversight across the EU: AM Best

2021-02-15T15:59:00+00:00

The proposed overhaul of European capital rules would give rise to more consistent regulation and provide a better picture of (re)insurers’ balance sheets, according to AM Best.

Wall Street and markets

Markets Review: Lemonade leads gains as benchmarks reach all-time highs

2021-02-15T13:57:00+00:00

Shares in Lemonade rose more than 13 percent last week to lead gains among NYSE-listed carriers, in a week where Wall Street stocks hit record highs as investors weighed the prospect of increased fiscal stimulus against the possibility of higher inflation.

SCor

Markets Review: Scor led gains in muted week for P&C stocks

2021-02-15T08:15:00+00:00

French reinsurer Scor led the gains in a muted week for European (re)insurance stocks as investors weighed gloomy reports on the UK economy against hopeful signs of progress towards further US stimulus measures.

Lloyd's

London combined ratios point to a fourth Lloyd’s underwriting loss year in a row

2021-02-15T08:01:00+00:00

One notable trait among recent earnings reports from Lloyd’s-focused carriers is for combined ratios to be significantly above 100 percent – a trend which points to a fourth successive year of underwriting losses at Lloyd’s.

Combined vs Aon vs GC vs Willis Re…

Aon-Willis Re combined 2020 reinsurance revenues top ~$2.5bn

2021-02-11T07:59:00+00:00

Although Q4 typically only accounts for around 10 percent of reinsurance broker annual revenue, strong organic growth from Aon helped cement its position as the largest standalone firm in the sector, while Willis Re’s 22 percent showing means that the combined businesses would top $2.5bn in 2020 revenues, analysis by ...

Business interruption policy

Retroactive BI legislation back on agenda as five states introduce bills in 2021

2021-02-10T14:16:00+00:00

At least five US states have introduced retroactive Covid-19-related business interruption (BI) legislation this year, joining a similar bill introduced in Texas in December, as focus among some lawmakers again turns to forcing insurers to retroactively cover losses from the pandemic.

Mapfre share price

Mapfre shares dragged down by Brazil crisis; P&C to improve at Q4

2021-02-09T07:57:00+00:00

Shares in Spanish (re)insurer Mapfre have underperformed the wider insurance sector by around 15 percent since the pandemic-induced sell-off in global equities last year and remain under pressure as the carrier’s return on capital is weighed down by its exposure to the volatile Brazilian real.