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
RenRe beats estimates despite $154mn wildfire lossRenaissanceRe surpassed estimates to report a $41.4mn Q4 operating profit despite a $154.4mn bill from the California wildfires which pushed the Bermudian’s combined ratio to 102.5 percent.
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.
Chubb just misses as California losses creepChubb marginally underperformed against the expectations of equity analysts for the fourth quarter as its estimate of California wildfire losses crept to $447mn.
JLT Re calls out modeling firms over mismatched storm estimatesJLT Re has called into question the credibility of the major risk modelling firms after they failed to reach a consensus on the cost to the industry of hurricanes hitting one of the best-mapped corners of the planet.
Almost $1bn of cat bond capacity hit by 2017 cats: WillisWillis Towers Watson’s securities arm has estimated that $985mn of cat bond capacity was impaired by the wildfires that scorched California and the trio of Atlantic hurricanes which battered parts of the US and the Caribbean last year.
Aspen expects $245mn Q4 UW loss as California losses biteBermudian carrier Aspen is set to post a $245mn underwriting loss for the fourth quarter including some $135mn of pre-tax losses net of reinsurance due to wildfires in California, the company announced last night.
Carillion collapse to deal trade credit insurers £31mn hitCredit insurers are set to pay out around £31.0mn ($44.3mn) of claims related to the dramatic collapse of British outsourcing firm Carillion, according to the Association of British Insurers (ABI).
Qatar Re owner’s profit dives after Hurricanes and OgdenQatar Insurance Group (QIC), the parent entity of Qatar Re and Lloyd’s syndicate Antares, reported underwriting profits that slumped $200mn to just $32mn last year.
Aon Benfield ups 2017 cat loss estimate to $134bnAon Benfield has increased its 2017 catastrophe loss pick once again to take the total estimated insured losses for last year to $134bn.
Argo’s Q4 losses higher than expectedArgo surprised analysts by announcing that its fourth quarter catastrophe losses were likely to be between $34mn and $38mn.
Q4 losses - two steps forward, one step backIn the past week, the gap between disclosed and anticipated industry losses has had a ‘two steps forward and one step back’ feel to it as more carriers published revised fourth quarter loss numbers.
CATCo’s 2017 losses creep over $700mnCATCo - the leading provider of pillared retro capacity for cat (re)insurers - has increased its estimate of 2017 losses to 27.6 percent of net asset value (NAV) of the funds it manages.
Guy Carpenter’s RoL index up 6.1 percent2017 losses and additional exposures added to treaties have fuelled a 6.1 percent increase in the Guy Carpenter rate on line (ROL) index for global catastrophe premiums.
Natural disasters and extreme weather top WEF risks for 2018The World Economic Forum (WEF) has named natural disasters and extreme weather events as the top global risks on the horizon for the second year running.
Axis: 4Q California fires to cost $92mnAxis Capital has said today (17 January) that catastrophe losses from the fourth quarter are likely to cost the firm $130mn.
AIR pegs Storm Eleanor losses up to €1.6bnCatastrophe modelling firm AIR has estimated that insured losses from Storm Eleanor will be between €1.1bn and €1.6bn ($1.3bn-$1.9bn).
XL’s fourth quarter cat losses creep to $315mnXL Group’s net catastrophe loss estimate for the fourth quarter has climbed by $65mn to $315mn in the wake of the wildfires in southern California and other disasters.
California wildfires push The Hartford to $180M Q4 cat lossThe Hartford is set to take a $180mn catastrophe hit from the fourth quarter largely due to losses stemming from wildfires which swept California last year.
1.1 rates hike trend will be short lived: Aon BenfieldThe 1 January renewals saw reinsurance pricing move up for lines and territories worst hit by last year’s catastrophes but those rate hikes are likely to be short lived, Aon Benfield has predicted today (8 January).