AM Best says Sirius rating unaffected by parent’s reported liquidity problems
The rating of New York-listed Bermudian (re)insurer Sirius has been left unchanged by AM Best, despite a reported missed bond payment and liquidity issues at its ultimate parent, China Minsheng Investment Group (CMIG).
Arch beats with top and bottom line growth
Arch shook off cat losses to deliver a small increase in operating earnings coupled with top line growth in a quarter lifted by significantly higher underwriting income from its mortgage arm.
Axis takes AIG’s Quane for new head underwriting role
Bermudian Axis has swooped on AIG for its long serving head of global commercial property Robert Quane.
Activist investor Voce Capital builds stake in Argo
Activist investor Voce Capital Management has taken a 5.6 percent stake in Bermudian carrier Argo.
Oberting replaces Waters as Sirius CEO
Allan Waters has stepped down from Sirius International Group with Kip Oberting set to take over as CEO of the Bermudian (re)insurer.
QIC returns 101.3% COR at full year
Qatar Insurance Group (QIC) reported a combined ratio of 101.3 percent at full year as strong gross written premium growth helped to mute the impact of successive hits from third and fourth quarter catastrophes.
Meyenhofer leaves Aon Bermuda after three months
Aon Reinsurance Solutions Bermuda CEO Matthias Meyenhofer has resigned from the broker, The Insurer can reveal.
Axis misses with loss after heavy Q4 cat burden
Axis Capital fell to a fourth quarter net operating loss of $148mn, or $1.77 a share that was worse than Wall Street forecasts as cat losses hit the bottom line.
Hedge fund reinsurer Watford Re confirms NASDAQ IPO intent
Bermudian Watford Re will test investor appetite for the hedge fund/total return (re)insurance model after formally filing for a NASDAQ IPO.
RenRe in big Q4 beat despite cat-driven underwriting loss
RenaissanceRe significantly outperformed Wall Street expectations for fourth quarter earnings as it edged to a modest operating profit of $1.2mn, compared to $41.4mn in the prior-year period.
CatCo comment: the mystery deepens…
The widespread incredulity of CatCo’s initial loss picks when it raised over $2bn in the wake of the 2017’s cat events meant not everyone was as surprised as Markel’s shareholders were when its retro fund manager subsidiary confirmed it was facing “governmental inquiries” in the US and Bermuda.
Markel hands CATCo reins to Rhoads and Barnard
Markel has handed Jed Rhoads and Andrew “Barney” Barnard the reins to investment manager Markel CATCo following the shock departure of CEO Tony Belisle and Bermuda CEO Alissa Fredricks on Friday (18 January).
Argo forecasts $32mn Q4 nat cat bill
Bermudian carrier Argo expects its fourth quarter 2018 results to be hit by pre-tax catastrophe losses of $32mn, primarily related to Hurricane Michael and the California Wildfires.
Arch ups Q4 cat loss range to include wildfires
Arch Capital now expects to take pre-tax losses from fourth quarter 2018 cat events of $110mn to $130mn, primarily from Hurricane Michael and the devastating California wildfires.
Argo begins search for new E&S chief
Argo Group’s US excess and surplus lines (E&S) platform is on the hunt for a new president following the departure of Ron Vindivich 16 months after taking the position.
Argo renews collateralized sidecar Harambee Re for 2019
Bermudian carrier Argo has renewed its sidecar reinsurer Harambee Re for 2019.
Everest Re CEO Addesso announces retirement at year end
Everest Re’s president and CEO Dominic Addesso is set to retire from the Bermudian at the end of the year.
Qatar Re closes curtain on energy book as retrenchment continues
Qatar Re has exited the energy market as the carrier continues to streamline its business.
Tightened ILS capacity to feature throughout 2019
On the eve of the 1.1 renewals, (re)insurance executives gathered in Bermuda for a roundtable hosted by The Insurer and EY earlier this month discussed the issues that have been dominating conversations across the industry in recent weeks – with the outlook for the ILS market and the likelihood of ...