All Results articles
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NewsHiscox Syndicate 33 closes 2018 YoA with small profit
Hiscox Syndicate 33 has closed the 2018 year of account with a profit of 0.1 percent of its near £1.6bn ($2.2bn) capacity.
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Hiscox shares shed 11% on FY loss and retail guidance
Shares in Hiscox were trading down over 11 percent after the London-listed carrier reported sizeable losses for the year, issued “disappointing” guidance on its flagship retail business and continued to withhold its dividend.
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Hiscox reports 2020 loss as CR rises to 114.5%
Hiscox reported a pre-tax loss of $268mn for 2020 on the back of a net Covid-19 claims bill of $475mn, with the group’s combined ratio deteriorating to 114.5 percent.
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Lemonade Q1 loss ratio to spike from Texas winter storms
Lemonade expects a first quarter adjusted Ebitda loss of over $40mn as a result of the Texas winter storms causing a spike in its loss ratio, which follows the ratio remaining static in the fourth quarter because of the new lines the insurtech entered.
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Atrium replaces Enstar 25% backing as it defies pandemic to post 2020 profit
Atrium ended a year when the industry was hit by Covid-19 and other cat losses by generating a strong underwriting profit in the last reporting period before Enstar sold down its stake in the Lloyd’s insurer and ended its capacity support for Syndicate 609.
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Biglari eyes more insurance acquisitions after 79.7% combined ratio in 2020
Biglari Holdings, the owner of First Guard Insurance Company and Southern Pioneer Property Casualty Insurance Company, is interested in further insurance acquisitions following an increase in operating earnings from underwriting in 2020.
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Enstar Q4 operating profit up 3.5x to $748mn despite UW loss
Net and operating profits surged at live-to-legacy player Enstar for the fourth quarter and full year despite underwriting losses in both reporting periods driven by StarStone and its non-life run-off unit.
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Berkshire Hathaway shares trade up despite earnings miss
Berkshire Hathaway shares were trading up 3 percent Monday after analysts predicted a favourable reaction from investors based on the expectations of sustained share repurchases.
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RSA posts strong underwriting profit growth ahead of sale and break-up
RSA generated a group combined ratio of 91.9 percent for 2020 percent driven by strong performances in its Scandinavian and Canadian operations.
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ERS posts FY 2020 CR of 91.9% as pivot to specialty lines continues
Aquiline-backed ERS has reported a combined ratio of 91.9 percent for 2020, an improvement of 7.8 points year on year.
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Root delays treaty placement in hope of superior terms
Newly-listed auto insurtech Root has delayed the placement of one of its reinsurance treaties to 1 April in the belief that its positive loss ratio trends will mean it receives superior terms on the contract.
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PartnerRe Q4 non-life CR narrows 15.2 points as cat losses drop
PartnerRe’s Q4 2020 non-life combined ratio fell by 15.2 points year on year to 98.6 percent as the company benefited from a significant reduction in catastrophe losses compared with Q4 2019.
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James River reports 131% Q4 combined ratio in earnings miss
Preannounced unfavourable reserve development of $86.0mn pushed James River’s combined ratio to 131.0 percent in the fourth quarter, a significant deterioration from 93.8 percent in the same period of 2019.
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Universal falls to Q4 and full-year operating loss
Preannounced Q4 weather losses and prior-year reserve development sent Universal Insurance Holdings to an operating loss for the period as the Florida-based homeowners specialist pointed to strong price increases in its home state and steps to “reduce uncertainty for shareholders”.
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Munich Re shifts casualty focus away from XoL at 1.1
Munich Re cut its exposure to casualty excess of loss treaties at the 1 January renewals as the German reinsurer continues to take “decisive action” to mitigate high litigation and increasing social inflation trends in its US casualty book.
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Axa shares climbs 4% on cash and capital beat
Axa shares gained over 4 percent in morning trading after the insurer beat expectations on cash and capital positions for 2020, despite a slump in profit due to Covid-19-related claims.
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Munich Re P&C returns to profit in Q4 as FY Covid bill reaches €3.4bn
Munich Re reported a fourth-quarter operating result of €179mn ($216.9mn) in its P C reinsurance division, compared with a loss of €30mn in Q4 2019, while experiencing average rate increases of 2.4 percent at 1 January.
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Axa XL reiterates €1.2bn earnings target as it posts 112% CR
Axa has reiterated its commitment to deliver underlying earnings of €1.2bn ($1.46bn) in its Axa XL division for 2021 after revealing further strong pricing momentum in the fourth quarter of 2020.
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UPC reports 142% Q4 combined ratio and forms new E&S carrier
United Insurance Holdings (UPC) has reported a fourth quarter combined ratio of 142.1 percent, up 28.8 points on the 113.3 percent in the same period of 2019, and has revealed it has formed a new excess and surplus lines carrier.
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Lancashire Syndicate 2010 outperforms forecast to return profit for 2018 YoA
Lancashire Syndicate 2010 has returned a profit for the 2018 Lloyd’s year of account (YoA) following a 6.9 percentage point improvement on its previous forecast range.
