NewsResultsArgo 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.Fri 4 May 2018
NewsResultsReserve 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.Fri 4 May 2018
NewsM&ADacey 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.Fri 4 May 2018
NewsCasualty ReinsuranceSwiss 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.Fri 4 May 2018
NewsM&AThe 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.Thu 3 May 2018
NewsResultsAIG 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.Thu 3 May 2018
NewsResultsLiberty 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.Thu 3 May 2018
NewsWillis 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.Thu 3 May 2018
NewsM&AAspen 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.Thu 3 May 2018
NewsResultsAIG 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. Thu 3 May 2018
NewsCharles Taylor InsureTech inks delegated authority deal with LMGCharles Taylor’s InsureTech arm has signed up to a three-year deal with the London Market Group (LMG) to provide central services for the market’s delegated authority business.Thu 3 May 2018
NewsM&AThe Hanover smashes profit estimates as Chaucer sale still on the cardsThe Hanover comfortably beat earnings expectations to post a profit of $84mn in the first quarter as the carrier hailed the performance of its up-for-sale Lloyd’s business Chaucer.Thu 3 May 2018
NewsResultsAFG beats estimates and grows premiums in Q1American Financial Group (AFG) surpassed the expectations of analysts to deliver core net operating earnings of $219mn for the first three months of the year.Thu 3 May 2018
NewsM&AAspen beats estimates with $63mn profit as sale process rumbles onUp-for-sale Bermudian Aspen defied analyst expectations to book a $63mn profit for the first quarter after receiving a boost from higher reserve releases and lower cat losses than it reported time last year.Thu 3 May 2018
NewsResultsUPDATE: Lancashire shares jump 5% on Q1 resultsLancashire’s shares have risen as much as 8 percent this morning before giving up some ground to trade nearly 5 percent higher at around 627p per share after the firm posted a sterling set of first quarter results before markets opened.Thu 3 May 2018
NewsResultsReserve releases fail to offset AIG’s $376mn cat bill as profits sinkAIG’s profits sank by almost a third in the first quarter as reserve releases failed to completely soften the blow from a $376mn catastrophe bill after mudslides in California, storms across the northeast of the US and an earthquake in Papua New Guinea.Wed 2 May 2018