The inland marine market has been one of the most consistently profitable insurance classes in recent years, but it has been hit hard by Covid-19 with contingency losses and cancelled events and travel causing premiums to drop for the first time in over a decade, according to AM Best.
More than a third of The Hartford’s shares are owned by asset managers which also have a shareholding in its rebuffed suitor Chubb, analysis by this publication reveals.
The Hartford’s refusal to enter into talks with Chubb over a potential takeover deal has raised questions as to what it would take for the company to enter discussions with a potential buyer.
Global reinsurance capital reached a new high of $650bn at the end of 2020, according to Aon, with traditional equity capital reaching a new peak of $556bn at year end, despite the combined ratio of the group of 23 reinsurers it covers deteriorating from 100.2 percent to 103.4 percent on ...
The cost of a comprehensive motor insurance policy in Britain has fallen 14 percent since the first quarter of 2020, with Q1 2021 recording a 7 percent decline as insurers reacted to successive Covid-19 lockdowns and low claims experience.
US and Bermudian (re)insurers have now disclosed close to $1.4bn of winter storm losses in preannouncements ahead of the first-quarter earnings season, with reinsurers set to face a substantial percentage of losses from the event.
Organic growth of 6.4 percent for the first quarter at Truist Insurance Holdings should be viewed as a “good lateral” to others in the cohort of publicly traded insurance brokers, according to Wells Fargo analyst Elyse Greenspan.
Aon’s all-stock ~$30bn acquisition of Willis Towers Watson was always an ambitious undertaking. While both firms publicly spoke of their confidence the agreed deal would conclude without major divestments, the developments of the past few months have made it clear this is not going to happen.
Analysts have been adjusting carrier earnings forecasts for elevated cat losses in Q1 including from Winter Storm Uri along with expected further Covid-19 losses, but the focus of the upcoming round of calls with management is likely to be on underlying results as hard(er) market rates earn through.
When Aon announced on 9 March 2020 that it had agreed to buy Willis Towers Watson (WTW) in a ~$30bn all-stock deal, the day wasn’t finished before speculation began about the prospect of spin-offs to appease regulators’ antitrust concerns.