Navigators beats with 94% combined ratioUS specialty player Navigators impressed analysts with a $32.9mn operating profit for the first quarter, a 61.3 percent improvement on this time last year.
Allstate increases 2018 reinsurance limit to $4.5bn with rated and ILS marketsAllstate, the US personal lines heavyweight, has “substantially placed” its 1 June cat XoL reinsurance program and with increased limit from both the traditional and ILS markets.
Aspen bankers narrow bidders as second round beginsGoldman Sachs and JP Morgan will formally notify parties which have made it through to the second round auction process for the up-for-sale Bermudian (re)insurer Aspen early this week, re-Insurance.com can reveal.
Hannover Re beats as premiums climbHannover Re has beaten analyst forecasts for its first quarter profits and seen its gross written premiums climb strongly in the first three months of the year.
XL: London and Bermuda enjoying positive rates ‘in all lines’XL Group has revealed that its London Market and Bermuda operations both enjoyed revenue growth of 14 percent in the first quarter while providing encouragement to investors on strong 2018 rate movements.
Aon broking margins grow as reporting changes boost revenueAon’s primary and reinsurance broking arms posted organic revenue growth of 4 percent and 6 percent respectively in a first quarter where changes to GAAP accounting standards proved a boon to the group’s headline revenue figures.
Willis Re bolsters engineering practice with TransRe hireAndrew Vince has joined Willis Re as deputy head of its global engineering practice.
Allied World deal bolsters Fairfax GWP as underwriting profit stays flatCanadian investment giant Fairfax, which owns the likes of Brit and OdysseyRe, saw premiums climb by 50.7 percent in the first quarter driven by its acquisition of Allied World.
P&C business drives growth at GeneraliItalian insurance giant Generali has posted an operating profit of EUR1.3bn ($1.56bn) in the first quarter, up five percent on the back of an improved performance in the property and casualty (P&C) segment.
Axa P&C revenues grow 2% to EUR6.3bnFrench carrier Axa increased revenues at its P&C unit by 2 percent to EUR6.3bn in the first quarter as the firm geared up for its massive $15.3bn acquisition of XL Group.
Argo beats estimates as first quarter premiums swellBermudian (re)insurer Argo exceeded the expectations of analysts to deliver an operating profit of $36.5mn in the first three months of the year.
Reserve releases at TransRe drive surge in Alleghany profitsReserve releases within Alleghany’s reinsurance arm TransRe have driven a surge in the US firm’s profits, which climbed 51.8 percent to $174.6mn in the first quarter.
Dacey hints at other investment interest in Swiss Re aside from SoftBankSwiss Re chief financial officer John Dacey has hinted that the company is in discussions with other investors surrounding a potential stake in the Zurich-based (re)insurer.
Swiss Re P&C income grows as underwriting improves in Q1Swiss Re’s P&C unit reported a 7.5 percent year-on-year bump in net income for the first quarter to $345mn as underwriting returns improved helped by low catastrophe losses.
The Hanover would use Chaucer sale to fund US growthJohn Roche, CEO of The Hanover has said that the firm would use the proceeds from the sale of its Lloyd’s business and international arm Chaucer to finance domestic expansion.
AIG shares shed 10% as investors react to Q1 underwriting lossInvestors have punished AIG by wiping almost 10 percent off the firm’s share price this morning after the firm posted a $251mn Q1 underwriting loss including $376mn of catastrophe losses after markets closed yesterday.
Liberty escapes worst of Q1 cats to double profitsBoston-based Liberty Mutual more than doubled its first quarter profits year-on-year to $649mn as the firm avoided a significant catastrophe bill in the first three months of 2018.
Willis shifts ILS business to its reinsurance unitWillis Towers Watson has moved its ILS unit, which was previously sat in the same division as its primary insurance broking business, to be part of its reinsurance arm Willis Re.
Aspen exploring ‘many, many’ deal possibilitiesChris O’Kane, the boss of up-for-sale Bermudian carrier Aspen, has said the (re)insurer is evaluating “many, many” different deal possibilities and players.
AIG targeting sub 100% combined ratio by end of the yearAIG is aiming to get its general insurance combined ratio below 100 percent by the end of 2018 despite expectations that its North American business will post another underwriting loss this year.