Chubb’s Greenberg says firming spreading to more classes and territoriesChubb narrowly beat analysts’ expectations in the second quarter, with chairman and CEO Greenberg describing the results as “about growth and pricing”.
Travelers shares down 3% after non-cats and tort trends hit resultsInvestors reacted negatively as Travelers highlighted higher than expected non-catastrophe weather losses and a worsening tort trend that extended from commercial auto into other liability coverages in its Q2 earnings.
Brown & Brown reveals strong retail and wholesale organic growthBrown & Brown has reported organic growth of 7.0 percent in its wholesale brokerage segment and 5.6 percent in retail, and gave a more bullish assessment of pricing in its earnings call than in the first quarter.
Travelers says business insurance pricing momentum picked up in Q2US bellwether Travelers has revealed Q2 renewal premium change in its business insurance division of 6.7 percent, the highest level since 2014 as pricing momentum picks up in the US commercial marketplace.
Cat-hit Florida insurers’ shares slide furtherFedNat’s share price fell 8.4 percent yesterday while the shares of Heritage and United Insurance Holdings (UPC Insurance) also fell.
Beazley shares climb on H1 earnings beatLloyd’s (re)insurer Beazley saw its shares climb over four percent in early trading as it posted a consensus-beating profit before tax of $166.4mn for the first half of the year, a combined ratio of 100 percent and positive commentary on rates.
Brown & Brown posts 3.9 percent Q2 organic growthUS broker Brown & Brown has revealed 3.9 percent organic growth for the second quarter, bringing its organic growth for the first half of the year to 2.9 percent.
Munich Re expects Q2 profit to jump to Eur1bnGerman powerhouse Munich Re has said it expects to make a profit of Eur1bn ($1.12bn) in the second quarter, delivering a consolidated result 37 percent higher than the Eur728mn in the same three-month period in 2018.
BB&T Insurance organic growth surges to 11.6% in Q2US retail and wholesale broker BB&T Insurance Holdings has reported organic growth for the second quarter that more than doubled from 5.2 percent to 11.6 percent to reach what it said was the highest level in its history.
Higher investment income and reserve releases help RLI to earnings beatRLI Corp reported an 11.2 percent increase in operating profits to $29.7mn for the second quarter that included stable underwriting performance helped by reserve releases along with higher investment income.
Analysts mixed on positive US pricing thesis as Q2 earnings beginAlthough the second quarter P&C earnings season that got underway in the US today will include the impact of weather losses and positive marks on investment portfolios, the focus of investors is likely to be on pricing momentum.
Swiss Re shelves ReAssure IPO on back of muted investor interestZurich-headquartered Swiss Re has abandoned plans to float its UK life insurance business ReAssure due to a low level of interest in the UK primary market from investors.
RFIB says 2018 normalised EBITDA climbs to £9.3mnLondon market wholesaler RFIB said its normalised ebitda in 2018 climbed 50.1 percent from £6.2mn to £9.3mn while turnover nudged up slightly to £48mn.
American Club swings to $5.5mn loss in 2018International Group member American Club booked a net loss of $5.5mn for the year ended 31 December 2018, after turning a profit of $5.7mn the prior year, as the insurer saw claims swell in what was a challenging year.
Kemper plans to raise $129mn in public offeringChicago -based insurer Kemper has issued a public offering of 1,350,000 shares of its common stock, aiming to raise up to $129mn to redeem subordinated debt.
CCR Re receives positive outlook boost by S&PCCR Re, the open market reinsurance arm of French state-owned carrier Caise Centrale de Réassurance (CCR), has been awarded with a positive outlook on its A- financial strength rating by S&P.
Lockton generates 11% organic growth in the USLockton reported strong organic growth in the US and internationally for the fiscal year ending 30 April 2019 and said the move to build out its reinsurance platform will provide further fuel for top line expansion.
US P&C insurers’ operating income up 16% in Q1: AM BestA $1.4bn increase in net investment income and a $1bn increase in underwriting income boosted the US property casualty industry pre-tax operating income by 16.2 percent to $17.8bn in the first quarter, AM Best has revealed.
MS Amlin losses narrow in 2018MS Amlin – a subsidiary of Japanese giant MS&AD – has posted a net loss after-tax of £94mn ($119.9mn) for the 2018 calendar year, down from the loss of £760mn it posted in 2017.
Tokio Marine international profit climbs 30%; reinsurance returns to blackJapanese giant Tokio Marine Holdings has reported a 30 percent boost in profit within its international business arm – which includes Tokio Marine HCC, Tokio Marine Kiln and the carrier’s reinsurance operation – to 187.8bn yen ($1.7bn) for the 12 months ending 31 March 2019.