Cat losses add 40.6 points to PartnerRe’s Q4 P&C combined ratioBermudian reinsurer PartnerRe has reported a net loss of $32mn for the fourth quarter, driven by a $282m hit related to Hurricane Michael and California wildfires.
James River sees strong E&S rate increases and submission growthJames River’s operating profits for the fourth quarter fell short of Wall Street expectations despite improved underwriting results that contributed to an ROE for the year that was the highest since 2006.
Swiss Re P&C returns to profit despite $2.3bn loss billDespite a poor fourth quarter, Swiss Re reported net income of $370mn in its P&C division in 2018, a marked improvement on the $413mn loss the business segment made the previous year.
United Fire’s progress undone by higher jury awards in “challenging quarter”United Fire Group has reported a net loss of $29.3mn for the fourth quarter, compared to net income of $46.0mn in the same period of 2017.
$300mn cat losses contribute to Alleghany Q4 earnings missCatastrophe losses have increased the fourth quarter combined ratio in Alleghany’s (re)insurance operations to 119.1 percent in 2018 from 89.1 percent in same period of 2017.
Scor P&C swings to Eur83mn Q4 lossFrench reinsurer Scor fell into the red in its property and casualty business in the fourth quarter of 2018, reporting an operating loss of Eur83mn ($94.2mn).
Weather losses push Donegal to 110.5% Q4 combined ratioPennsylvania-based Donegal Group has reported a $15.0mn fourth-quarter loss, with catastrophes pushing its combined ratio to 110.5 percent.
Cats hit UPC combined ratio but underlying performance improvesUnited Insurance Holdings (UPC Insurance) reported a combined ratio that deteriorated by 16.3 points to 108.9 percent in the fourth quarter as it felt the impact of Hurricane Michael and a higher aggregate retention compared to the prior-year period.
Fast-shrinking CatCo says average rates up as high as 30 percent2017-18 Losses now $4.5bn+ Claims rates on book were effectively up 30 percent at 1.1 AuM shrunk to $3bn; what will it be next month?
Prosight’s 2018 profit up on low cat losses and $5mn reserve releaseUS specialty insurer Prosight reported a combined ratio in 2018 of 96.7 percent, an improvement from the 99.7 percent in 2017.
Swiss Re completes $1bn share buy-back programmeReinsurance powerhouse Swiss Re has completed its 2018 share buy-back programme, returning just shy of CHF1bn ($995.6mn) to shareholders.
TMK's flagship syndicate facing 2017 loss of up to £165mnTokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 9.6 percent and 14.6 percent for 2017 year of account.
Brit falls to $166.5mn loss as nat cats biteFairfax-owned Lloyd’s insurer Brit suffered a $166.5mn after-tax loss in 2018 as a result of major catastrophe losses such as the California wildfires and Hurricane Michael.
Allianz's P&C unit grows top and bottom line in Q4German insurance powerhouse Allianz delivered an operating profit of Eur1.5bn ($1.69bn) in its property and casualty business in the fourth quarter of 2018, which was coupled with top line growth in the segment.
Fairfax weathers cats to report improved Q4 combined ratioA significant improvement in Allied World’s underwriting performance helped Fairfax Financial’s (re)insurance operations report an improved combined ratio for the fourth quarter.
AIG continues reinsurance revamp with $275mn HNW US cat coverAIG has added a new $275mn cat cover to protect its high net worth (HNW) personal lines business in the US.
State Auto posts improved combined ratio for Q4State Auto’s fourth-quarter operating income per diluted share was $0.67, compared with a net loss from operations per diluted share of $0.49 for the prior year period.
AIG: ‘We don’t need a hard market to improve this book’AIG is confident it is almost free of the drag of the previous management’s “go-large” approach on its combined ratio.
Lancashire shares up over 7% percent on earnings beatShares in London-listed Lancashire climbed 7.06 percent in trading on Thursday (14 February) after the carrier reported better-than consensus fourth quarter financial results.