Hastings

Hastings shares slump on profits warning and dividend cut

2020-01-17T10:35:00+00:00

Shares in UK general insurer Hastings slumped by more than 6 percent this morning after the firm released an unexpected trading update warning of a reduced full-year dividend and worse-than expected Q4 claims inflation in its core UK market than will see profits below consensus. 

London, City. Gryphon

Hastings expects reduced FY 2019 dividend after Q4 claims bite

2020-01-17T08:02:00+00:00

In an unscheduled trading update this morning, UK general insurance provider Hastings has reported elevated claims costs in the fourth quarter of 2019, which are expected to result in a reduced full year dividend and a calendar year loss ratio, before the impact of July’s Ogden rate changes, in the ...

California wildfire

Mercury General takes $36mn Q4 Cali wildfires hit

2020-01-16T22:42:00+00:00

Los Angeles-based Mercury General Corporation has become the latest carrier to preannounce Q4 catastrophe losses, with a $36mn pre-tax hit primarily from California wildfires that will not trigger its cat reinsurance programme after it raised its retention at 1 July last year.

California wildfire

Q4 cat losses help sustain 2020 pricing momentum: KBW

2020-01-15T04:06:00+00:00

Higher than expected Q4 cat losses and crop combined ratios revealed by Chubb last night imply “notable” losses for internationally exposed carriers, including Bermudians, AIG and WR Berkley, according to KBW analyst Meyer Shields.

chubb logo

Chubb facing $430mn Q4 pre-tax cat hit

2020-01-14T21:28:00+00:00

Chubb’s fourth quarter 2019 results will include an estimated $430mn of pre-tax catastrophe losses after the carrier took a heavy hit from various weather events around the world including the Californian wildfires and Typhoon Hagibis in Japan.

peter cullum david margrett and Mike Bruce

Up-for-sale GRP’s underlying earnings leap to £50mn

2019-12-30T10:53:00+00:00

Up-for-sale UK broker consolidator GRP has reported a full year 2018-19 loss before tax of £17.9mn ($23.5mn) but a strong leap in underlying earnings.

London, City. Gryphon

Hastings expects reduced FY 2019 dividend after Q4 claims bite

2020-01-17T08:02:00+00:00

In an unscheduled trading update this morning, UK general insurance provider Hastings has reported elevated claims costs in the fourth quarter of 2019, which are expected to result in a reduced full year dividend and a calendar year loss ratio, before the impact of July’s Ogden rate changes, in the ...

California wildfire

Mercury General takes $36mn Q4 Cali wildfires hit

2020-01-16T22:42:00+00:00

Los Angeles-based Mercury General Corporation has become the latest carrier to preannounce Q4 catastrophe losses, with a $36mn pre-tax hit primarily from California wildfires that will not trigger its cat reinsurance programme after it raised its retention at 1 July last year.

California wildfire

Q4 cat losses help sustain 2020 pricing momentum: KBW

2020-01-15T04:06:00+00:00

Higher than expected Q4 cat losses and crop combined ratios revealed by Chubb last night imply “notable” losses for internationally exposed carriers, including Bermudians, AIG and WR Berkley, according to KBW analyst Meyer Shields.

chubb logo

Chubb facing $430mn Q4 pre-tax cat hit

2020-01-14T21:28:00+00:00

Chubb’s fourth quarter 2019 results will include an estimated $430mn of pre-tax catastrophe losses after the carrier took a heavy hit from various weather events around the world including the Californian wildfires and Typhoon Hagibis in Japan.

peter cullum david margrett and Mike Bruce

Up-for-sale GRP’s underlying earnings leap to £50mn

2019-12-30T10:53:00+00:00

Up-for-sale UK broker consolidator GRP has reported a full year 2018-19 loss before tax of £17.9mn ($23.5mn) but a strong leap in underlying earnings.