The march of ILS capital

ILS investors seek rate hardening after costly H2 2018: Swiss Re


2018 marked the second-highest year of ILS issuance volume on record, but investors will now seek rate hardening after another costly cat year, according to Swiss Re.

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Suncorp to buy additional A$200mn natural perils cover


Suncop will buy an additional A$200mn ($143mn) in natural perils reinsurance cover at its 1 July 2019 renewal as it looks for further protection around its main cat and aggregate structures after blowing its budget for losses.

City of london skyline from london city hall   sept 2015 169crop

TMK's flagship syndicate facing 2017 loss of up to £165mn


Tokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 9.6 percent and 14.6 percent for 2017 year of account.

California wildfire aftermath i

California considers disaster response insurance


California’s insurance commissioner Ricardo Lara is behind a proposal that could see the wildfire-ravaged state buy insurance to pay for disaster response costs related to catastrophic events.

AIG-share-price i

AIG shares plunge 9% on Q4 loss


AIG shares were trading down close to 9 percent in New York this morning as investors reacted negatively to a big Q4 2018 earnings miss.

tokio marine exterior

Tokio Marine’s European and reinsurance units return to black


Japanese giant Tokio Marine’s reinsurance and European businesses both returned to a profit in the first nine months of 2018.

Alan Colberg

Assurant cuts cat XoL retention by a third after losses


US insurer Assurant has lowered the per-event retention on its 2019 catastrophe reinsurance programme from $120mn to $80mn after consecutive years of cat losses.

Brian Duperreault aig

AIG’s $365mn reserve charge contributes to big Q4 miss


AIG shares were down more than 3 percent in after hours trading in response to the insurer reporting an adjusted after-tax loss of $559mn, or $0.63 per share, for the fourth quarter of 2018.


Maiden faces class action lawsuit over AmTrust relationship


A class action lawsuit has been launched against Maiden Holdings alleging the reinsurer and some of its former officers misled investors over underwriting and risk management controls relating to its reinsurance of AmTrust.

Dominic James Addesso

Everest Re slides to Q4 loss on heavy cats


Everest Re has fallen to a fourth quarter operating loss largely driven by heavy cat losses in the period.


CNA misses as cat losses and investment returns hit Q4 profits


US insurer CNA Financial has revealed a fourth-quarter net loss of $84mn. Its core loss per share of $0.08 - a core loss of $23mn - was a big miss from the mean estimate of six analysts surveyed by MarketWatch of $0.82 earnings per share.


Mapfre’s earnings shed 25% as goodwill writedown hits bottom line


Mapfre saw its earnings fall nearly 25 percent in 2018 as catastrophe losses, currency depreciation and a massive prior year goodwill writedown negatively impacted results but the Spanish (re)insurer received praise from analysts for its underlying performance.

Talanx konzernzentrale

Talanx hits reduced Eur700mn target despite industrial loss


German (re)insurer Talanx has reported a net income of Eur703mn ($798mn) in 2018, marginally ahead of its Eur700mn target it revised downwards in October.


Munich Re profits halve in fourth quarter as nat cats take toll


Reinsurance giant Munich Re has reported a profit of Eur238mn ($270.9mn) in the fourth quarter of 2018, down 56 percent from the same period in 2017.

Lloyds buidling landscape

Numis drops Lancashire FY profit estimate to $16mn


Numis Securities expects Lancashire to post a “small” profit of $16mn at full year, despite forecasting the London-market carrier to report an above-consensus loss of $33mn for the fourth quarter.

PG&E wildfire

PG&E paid a mere $27mn for totalled $200mn cat bond


Californian utility PG&E paid a mere $26.8mn for its $200mn wildfire cat bond - Cal Phoenix Re - which is expected to have been totalled only months after its launch, according to a bankruptcy motion filed by the energy provider. 

Excess liability reinsurance i

Berkshire Hathaway was biggest writer of PG&E excess liability


Berkshire Hathaway wrote by far the biggest share of PG&E’s excess liability cover, The Insurer can reveal.

Hail storm damage i

Perils pegs Sydney hailstorm losses at A$635mn


Loss aggregation firm Perils has pegged insured property losses stemming from the Sydney hailstorms in December at A$635mn ($461.8mn).

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