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
The Hanover swings to profit as cats hurt ChaucerMassachusetts-based carrier The Hanover swung back into the black for the fourth quarter, posting operating income of $86mn or $2.00 per share compared to an operating loss of $19.7mn in the prior year period.
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.
Results Round-up: Brokers fly as carriers nosediveThe Q4 results season kicked-off in earnest last week with a boost for the brokers after solid performances by Brown & Brown and Arthur J Gallagher (AJG) while the first signs of a hard-loss quarter for carriers emerged.
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.
Gallagher’s sees 6.8% organic growth in broking revenuesAcquisitive international broking house Arthur J Gallagher reported fourth quarter organic broking revenues that had climbed 6.8 percent compared to the final three months of 2016.
RLI surpasses expectations as tax gain bolsters earningsRLI reported fourth quarter earnings that outperformed the expectation of analysts and included a $32.8mn boost from changes to the tax code in the US.
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.
XL eyes reinsurance restructure with new $1bn aggregate stop-lossXL Group is in the midst of overhauling the way it buys reinsurance with the addition of a group-wide aggregate stop loss cover that could provide up to $1bn of additional protection while enabling investors to take a greater share of underwriting profits, Reinsurance can reveal.
Travelers smashes analyst estimates with $633mn Q4 profitUS commercial and personal lines giant Travelers has significantly outperformed in the eyes of industry observers after it delivered a $633mn core profit in the fourth quarter despite reporting more than half a billion dollars of catastrophe losses.
Six themes to watch for during the Q4 results seasonAfter a loss-plagued autumn which has raised hopes of finally bringing much-needed change (from a carrier perspective) to the (re)insurance market dynamics, all eyes now turn to the Q4 and full-year 2017 results season which begins in earnest today with US insurance heavyweight Travelers (see table).
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.
Beazley shares climb as it predicts expectation-beating resultsBeazley looks set to report a relatively-sterling set of results for the full year 2017 after the London market carrier this morning announced it will post a 99 per cent combined ratio for the period and pre-tax profits “ahead of current market expectations.”
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.
Hyperion earnings climb by almost a quarter to £152mnHyperion, which owns Howden, RKH and Dual, saw profits climb by 24 percent to £152mn ($205.4mn) in the 12 months leading up to the end of September last year.
RenRe posts 3Q combined ratio of 245 percentThe scale of the third quarter cat events was highlighted by Bermudian reinsurer RenaissanceRe which posted an overall underwriting loss of $793.2mn on a combined ratio of 244.8 percent yesterday evening (31 October).