RSG takes on Lodestar Marine from Tawa GroupRyan Specialty Group, the MGA acquirer and wholesale broker led by Aon founder Pat Ryan, has acquired Lodestar Marine from Tawa, the run-off group backed by luxury brand billionaire Francois Pinault.
Argo just beats estimates as reserves buoy Q4 resultsArgo Group has defied analyst predictions to deliver a modest $0.3mn fourth quarter operating profit as reserve releases and revised catastrophe loss estimates bolstered the bottom line.
Peak Re sells 13% stake to Prudential FinancialFosun-owned Hong Kong reinsurer Peak Re has struck a deal to sell 13.1 percent of its equity to US-based carrier Prudential Financial.
Lloyd’s yacht market in deep water after 2017 lossesSky-rocketing claims dealt Lloyd’s yacht underwriters a hefty blow last year as incurred claims soared to an eye-watering 221.4 percent of premium written in the fourth quarter.
XL or XXL?Ten years ago, $1bn was the default minimum size for a global reinsurer/specialty carrier to be taken seriously.
Brit expands US marine operationsBrit has made two appointments to its US marine business and it continues to build out its yacht and cargo books in the wake of catastrophe losses incurred in the second half of last year.
UPDATE: AIG shares climb almost 5% after resultsShares in AIG were up almost 5 percent when the opening bell rang at the New York Stock Exhange this morning after the US insurance giant announced its fourth quarter and full year results.
XL, Aspen and the M&A barometerAs XL Group’s share price spiked over 12 percent last night in the midst of Softbank’s bold wade into the (re)insurance arena with a mooted minority stake in Swiss Re, the industry’s M&A speculation barometer shot through the roof.
Hiscox shifts US chief to new London global retail unitHiscox has moved its US CEO Ben Walter to London to head up a newly-formed global retail division from the beginning of July.
Valuations further deter Everest Re from large-scale M&AEverest Re shares up almost ten percent since 4Q earnings. Re-Insurance’s summary of the Everest Re 6 February investor call.
Aon places mammoth $1.36bn World Bank earthquake cat coverAon Securities has put together a $1.36bn catastrophe bond for the World Bank which gives the institution cover for earthquake risks in Chile, Mexico, Colombia and Peru.
Hurricanes and wildfires drive US P&C underwriting 2017 loss: AM BestHurricanes and wildfires in the third and fourth quarter of 2017 pushed US property and casualty (P&C) business to a loss for the year, according to AM Best.
Volatile times return so beware any CEO that dares disappoint...That was fun wasn’t it? After several years of low volatility, soaring asset valuations and governments being paid to take on debt, global investors were reminded yesterday and today that the value of their investments can go down as well as up.
AFG beats estimates with $197mn profitAmerican Financial Group (AFG) delivered an expectation-topping $197mn operating profit in the fourth quarter as it dodged a significant loss from the catastrophes that plagued the industry in the final months of 2017
WRB dodges heavy losses to deliver Q4 profitUS carrier WR Berkley has reported net earnings per share of $1.21 for the fourth quarter as the company managed to miss the worst of the period’s catastrophe losses.
Aspen insurance CEO steps down after poor Q4 cat performanceAspen’s CEO of insurance Stephen Postlewhite has left the company with immediate effect, just hours after the Bermudian said it was expecting to post a $245mn underwriting loss for the fourth quarter.
RLI surpasses expectations as tax gain bolsters earningsRLI reported fourth quarter earnings that outperformed the expectation of analysts and included a $32.8mn boost from changes to the tax code in the US.
Brown & Brown tops estimates as organic growth climbs 9.3%US broker Brown & Brown got the ball rolling on the fourth quarter reporting season with an estimate-topping set of results led by 9.3 percent rise in organic revenue.
California regulator threatens profits cap only months after $12bn+ wildfire lossesDespite US and global (re)insurers facing a loss bill of over $12bn from the fourth quarter California wildfires, the populist state insurance commissioner Dave Jones (pic) has today (23 January) threatened to cap profits for state regulated insurers.
Travelers smashes analyst estimates with $633mn Q4 profitUS commercial and personal lines giant Travelers has significantly outperformed in the eyes of industry observers after it delivered a $633mn core profit in the fourth quarter despite reporting more than half a billion dollars of catastrophe losses.