PartnerRe posts 99.3 percent 2017 combined ratioDespite $120mn in net losses from the Q4 California wildfires and over $100bn in industry-wide cat losses for the year, Bermudian reinsurer PartnerRe kept its combined ratio below 100 percent in 2017.
RSA’s UK unit clocks 102% combined ratio as it vows to bounce backRSA’s UK business reported a full-year combined ratio of 102 percent for 2017 as storms and domestic floods took their toll on the unit’s bottom line.
Scor escapes worst of Q4 painFrench reinsurer Scor appears to have avoided the worst of the fourth quarter losses after it posted an improved combined ratio of 91.6 percent in its P&C unit for the period.
Tysers delays dividend as Integro sale talks drag onIndependent London market broker Tysers has warned shareholders not to expect the year-end dividend to be distributed in February as sale talks with potential acquirer Integro drag on, re-Insurance.com has learned.
Greenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.
Lloyd’s not ‘particularly proud’ of 28% gender pay gapFemales working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).
Wildfires push Greenlight Re to $19.7mn Q4 underwriting lossCayman Islands-based reinsurer Greenlight Re has fallen to a $19.7mn underwriting loss for the fourth quarter as losses from the California wildfires dealt the carrier a $4.7mn blow.
Chicken joined by more hires in BMS’s new energy divisionLondon market wholesaler BMS has made two further appointments in its newly-formed primary market energy division.
Hamilton Lloyd’s departures prompt underwriting reshuffleHamilton’s Syndicate 3334 has restructured its underwriting team following the departure of its deputy active underwriter and active underwriter.
The Swedish Club loses appeal over $15mn Renos lossA cohort of hull and machinery underwriters led by the Swedish Club have lost an appeal looking to dodge a $15mn loss after a freighter ship the MV Renos was destroyed by fire six years ago.
Irish authorities order CBL to halt writing businessThe Central Bank of Ireland has instructed New Zealand-listed construction specialist carrier CBL to stop writing business in the country with immediate effect as concerns over the company’s financial position spread to Europe.
IG reinsurance cover incepts as group mulls broker changeAs the clock ticks over this evening into the 20 February there will likely be a few celebrations ringing around the marine P&I world as the International Group’s (IG) $3bn cover for the coming year finally incepts.
Mariners brace for $100mn+ Sanchi pollution lossThe marine P&I market is facing hundreds of millions of dollars in environmental pollution losses from the sinking of the Iranian-flagged Sanchi ship which went down with around 1 million barrels of crude oil onboard in the East China Sea last month, re-Insurance.com understands.
More details emerge on Nexus mooted stake saleNexus’ recently-announced “shareholder liquidity event” is likely to take the form of a non-management individual share sale despite speculation that the MGA was weighing an IPO or full sale.
Terror cover for UK motor reinsurers in doubt as Swiss Re mulls 1.1 exclusionThe future of terrorism reinsurance coverage available to UK motor insurers is in question as leading reinsurers are close to withdrawing cover at 1.1.19, re-Insurance.com can reveal.
Carriers finally ‘called time’ on rate reductions: Willis“Already on the ropes and fatigued” (re)insurers have finally “responded to the towel entering the ring” to call time on rate reductions, according to a report from Willis Towers Watson.
Lancashire execs buy stock after heavy fallsA number of Lancashire’s leading executives and directors bought up shares in the carrier as trading came to a halt last Friday following a week in which a catastrophe-scarred set of Q4 results sent the stock down over 14 percent.
Softbank looks for Swiss Re board seatSoftbank, the Japanese tech conglomerate that stunned markets last week after reports emerged it was mulling a $30bn stake in Swiss Re, is pushing for a seat on the carrier’s board in a bid to have a say in how the reinsurer spends its $161bn investment pot.
Lloyd’s legacy deals sealed by Enstar and R&QRandall and Quilter (R&Q) has completed a £30mn deal to take on the old Sportscover legacy book, now owned by Hamilton’s Lloyd’s platform in what is the second agreement of its type to be announced in less than a week.