London specialty carriers’ H1 earnings bode well for Lloyd’s mid-year results
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…
HCI among the few targeting Florida opportunity where others fear to tread
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-Ukraine: Q2 brings little clarity on losses but changing risk perception already shifting market dynamics
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 global specialty equity index was only faller across all composites in July
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.
Early targeted stamp increases point to largest Lloyd’s capacity on record in 2023
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.
$2.41bn insurtech investment in Q2 up sequentially, down 50% over Q2 2021
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.
P&C insurance stocks miss out on global markets July rebound
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: US crop premiums surged in 2021 while results improved
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.
Aviation: The talent take-off
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.
Conning: US MGA market growth rate to slow after DPW surged 15.5% in ‘21
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.
AM Best: US inland marine market to grow further after rebound in 2021
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: book value hit and macro headwinds but will attention turn to reserves?
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: Lloyd’s narrowing acquisition cost gap on international peers
Lloyd’s is continuing to reduce its cost of doing business when compared with international peers, new analysis by Gallagher Re shows.
Global specialty (re)insurance equity index held up five times better than the overall market in H1 2022
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.
More companies weigh in on SCOTUS abortion ruling
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.
Public insurtech market cap halves in H1
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 outperform as European insurers dragged down in H1 rout
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.
Cat bond investors selecting carefully but strong issuance expected in H2
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.
WRB and Hiscox outperform as insurers dragged down in H1 rout
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.
1.7: Increased demand and reduced supply puts cat reinsurance market at tipping point
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.
Early-stage investment still strong despite global insurtech funding slowdown
How the $1bn Surfside settlement breaks down
Lloyd’s insurers for sale – what do they reveal about appetite and the cycle?
Rebadged London MGA Nexus Group now valued at £270mn+
Embedded insurance only in first chapter as concept gradually catches on
Latest forecasts predict an active Atlantic hurricane season ahead
The M&A deals that shape the reinsurance broker market today…
US P&C stocks end volatile May with modest gains
Global (re)insurance industry books $1.3bn of Russia-Ukraine losses in Q1
Hurricane forecasters united in expectations for above-average season in 2022
Russia-Ukraine uncertainty hangs over European reinsurance outlook
Howden: London D&O insurers “uncharacteristically slashing premium rates” in some instances
Howden Tiger combined revs of $340mn+ will exceed JLT Re; Flexpoint to exit
Florida capacity crunch in toughest homeowners renewal in 15 years
$1.2bn+ of UK BI claims to be tested in four 2022 High Court cases
Munich Re P&C outperforms peers in Q1 as major losses fall below budget
Severity drives large Q1 auto losses but carriers signal they’ve turned a corner
What AUB is getting in £500mn+ deal for Lloyd’s oldest broker Tysers
Ukraine-related loss reserves booked in Q1 total just over $1bn
AFG special dividends since annuity business sale up to $3.1bn
RPS: ML and PL have “turned a corner”; private D&O and large-plan fiduciary outliers
Hannover Re warns ultimate Russia-Ukraine losses won’t be clear until war is over
P&C stocks join slump in global markets in April amid stagflation fears
Up-for-sale Ascot eyes $6bn premium and sixfold operating income increase by 2026
2022 to be another active hurricane season as weather agencies forecast 18+ named storms
Gallagher Re: Insurtech funding falls to $2.2bn in Q1, lowest total since Q2’20
Environmental rate increases to continue despite aggressive new entrants
SEC focus increases SPAC uncertainty for D&O market
Construction pricing moderating amid cautious optimism on infrastructure bill
D&O new entrants’ impact being felt throughout towers as price increases moderate
Aon report: Intangible assets remain underinsured despite higher average PML
Lloyd’s 2021: The complete syndicate analysis
Global reinsurance capital rises to $728bn as aggregate CR improves to 97.6%
Proposed SEC rule could signal acceleration of climate regulatory activity
Asta-managed syndicates make up half of all 2022 Lloyd’s cash calls
Generali sees stock surge as P&C benchmark outperforms in Q1
Lloyd’s 2021 syndicate results in full
P&C stocks outperform in Q1 and March despite Russia-Ukraine pressures
Lloyd’s 2021: How the start-up syndicates fared
Strong reinsurer demand for casualty, PL quota shares drives cedes higher
Lloyd’s 2021: the best and worst performing syndicates
How does Ukraine compare to previous Lloyd’s losses?
Swiss Re calls for rethink on cyclone-induced flooding
Lloyd’s results: Property reinsurance back in the black in 2021
Lloyd’s results: Casualty remains only unprofitable insurance class in 2021
Howden’s Flandro: Macroeconomic issues will extend hard market
Russia-Ukraine cyber analysis: War exclusions – what are they good for?
Alleghany acquisition brings Buffett a complementary Berkshire-lite
How exposed are insurers to $13bn Russia aviation lease losses?
FCA: Fully settled UK Covid-19 BI claims approaching £1.05bn