US insurance stocks ride bear rallyThe North American insurance composite compiled by Stonybrook Capital and Weild & Co surged 5.4 percent last week as Wall Street benchmarks recorded their largest weekly gains of the year.
Cat bond activity bounces back in 2023Catastrophe bond issuance looks likely to set a new record this year, despite a relatively quiet Q3, with observers also confident that next year will be active too.
Record SCS losses the big nat cat story in 2023 for US insurersSevere convective storms have been the main driver of insured natural catastrophe losses this year, with the total hit from the peril setting a new record and suggesting the industry should be placing more weight on secondary events.
US P&C (re)insurance stocks deliver mixed results in October but still outperformUS P&C stocks beat the broader market in October, supported by personal lines and coastal insurers, although individual performance remained mixed.
Gallagher Re: Insurtech funding up 19.8% in Q3 to $1.1bnNew insurtech funding reached $1.1bn in the third quarter, up 19.8 percent on Q2 2023, driven by a 25.5 percent surge in property casualty investment to $931.3mn, according to Gallagher Re.
Euro-listed (re)insurers’ shares flounder as European equity records worst monthly performance since September 2022The majority of P&C shares declined in October as the European equity market struggled with recession fears, a surge in bond yields and the emergence of the Israel-Hamas conflict.
Building resilience in Asia: insurance initiatives across the regionThe Insurer examines some of the initiatives implemented across the Asia Pacific region to improve access to insurance against natural catastrophes.
Doksuri flooding leads Asia cat loss bill as claims fall in AustraliaAsia continued to see one of the largest disparities between economic and insured losses during the first nine months of 2023, with Gallagher Re estimating the region’s protection gap at 94 percent for the period.
US insurance stocks slide amid mega cap-driven Wall Street sell-offThe North American insurance composite compiled by Stonybrook Capital and Weild & Co fell 1.4 percent last week but still outperformed all major Wall Street benchmarks.
R&Q sells the Accredited crown jewels but proceeds represent only half of debtThe $465mn enterprise value put on Accredited in its proposed sale to Onex Partners appears to be broadly in line with expectations, but net cash proceeds available to R&Q after the deal closes may cover as little as half of the beleaguered parent’s debt, analysis by The Insurer shows.
S7 talks reignite insurer hopes of fresh settlements over seized aircraftRussia’s S7 Airlines is nearing a deal with aviation lessors to settle disputes over jets detained in the country following the invasion of Ukraine, in a move which could further reduce the (re)insurance industry’s overall loss.
2023 on track to become another $100bn+ loss year as record SCS bill continues to growInsured losses from natural catastrophes are expected to again top $100bn during 2023, despite the lack of large losses from this year’s Atlantic hurricane season.
Peers the latest in torrent of Ardonagh Specialty exits since $500mn Corant dealWe are only in mid-October but already this month has seen McGill and Partners hire a new US wholesale placement leader, start-up reinsurance intermediary Augment unveil a new parametric practice and Baldwin Risk Partners launch a new reinsurance broker called Juniper Re.
Allstate stock should continue climbing if Trian is along for the rideAllstate’s share price rose as much as 6 percent yesterday following a report by Reuters that Nelson Peltz's activist hedge fund Trian Fund Management has built a stake in the US auto/homeowners heavyweight.
TMPAA study: Bullish outlook after growth reaccelerates to 17% in ’22US program sector growth accelerated in 2022 with no sign of a change in the trajectory that has seen it expand by 352 percent since 2010, as administrators line up new launches and carriers look to grow, according to the latest Target Markets Program Administrators Association study.
Personal lines insurers lead gains as Progressive’s outperformance bodes well for sectorThe North American insurance composite compiled by Stonybrook Capital and Weild & Co was up by 0.4 percent last week, with personal lines insurers surging by 7.6 percent on average.
Threat of Israel-Hamas spillover could see more conservative CPRI underwriting across Middle EastThe threat of conflict spreading beyond Israel-Hamas will result in a more conservative underwriting stance throughout the Middle East within the credit and political risk insurance markets, according to industry sources.
2023 cat loss tally rises to $80bn+ as severe convective storms dominate Q3 lossesThird quarter insured catastrophe losses look set to top $30bn, analysis by The Insurer shows, bringing the industry loss bill for the year to more than $80bn.
Reinsurers recover lost ground amid mixed performance for Wall Street benchmarksThe North American insurance composite compiled by Stonybrook Capital and Weild & Co remained flat last week as positive share price movements among P&C carriers, particularly reinsurers, were offset by the underperformance of life and annuity insurers.
Heritage leads September gains as low hurricane activity boosts US P&C stocksUS and European P&C stocks moved sideways in September but still outperformed the broader equity market, which floundered over Q3 as investors processed the possibility that interest rates are likely to remain “higher for longer”.