NewsLossesLiberty Mutual Specialty profits absorb heavy cat lossesBoston-based Liberty Mutual’s specialty division reported pre-tax operating income of $92mn for the fourth quarter despite its share of the period’s catastrophes nearly doubling to $120mn year-on-year.Tue 27 Feb 2018
NewsResultsIrish Central Bank places CBL under administrationFollowing a similar move by its counterpart in New Zealand, the Irish regulator has petitioned the country’s high court today (26 February) to appoint an administrator for CBL’s European operations.Mon 26 Feb 2018
NewsResultsCBL’s downfall: As it happenedThings appeared to be going pretty well for CBL this time last year when it announced its 2016 results.Mon 26 Feb 2018
CommentLegacyAngerstein: Gala InvitesFresh from the collapse of his insurance company CBL, will CEO Peter Harris still go to Monte Carlo later this year to represent NZ in the world entrepreneur of the year competition? Angerstein suspects not…Mon 26 Feb 2018
AnalysisLegacyWhy Gibraltar’s French construction storm may spread beyond CBLWhy has the French construction class “dommages-ouvrage” blown a hole in CBL’s balance sheet and will other (re)insurers be affected?Mon 26 Feb 2018
NewsResultsArmour Group steels itself for potential CBL regulatory twin fightReinsurance capital likely to be trapped in two regulatory jurisdictions which could complicate collections…Mon 26 Feb 2018
AnalysisResultsMind the gap...Why is there still such a large gap between the overall 2017 cat loss estimates and what companies are reporting?Mon 26 Feb 2018
NewsResultsHigh prices and debt put Berkshire off 2017 acquisitionsSeemingly high valuations and an M&A environment fuelled by cheap debt were behind Berkshire Hathaway’s muted acquisition activity in 2017 despite Warren Buffett’s firm sitting on some $116bn of dry powder.Mon 26 Feb 2018
NewsResultsQBE Europe to continue LatAm expansion despite sale of business unitThe European arm of QBE will continue to expand its footprint in South America despite selling off its operation on the continent.Mon 26 Feb 2018
NewsResultsCBL puts itself into administrationEmbattled New Zealand carrier CBL Group has placed itself into voluntary administration in the wake of a High Court order forcing it to put its insurer into interim liquidation late last week.Mon 26 Feb 2018
NewsPeople MovesPioneer founder Doherty bows outLondon MGA Pioneer’s long-serving CEO and founder Darren Doherty is to depart the company.Mon 26 Feb 2018
NewsResultsAegis syndicate remains in the black as it looks to up 2018 capacityAegis’ Lloyd’s unit has posted a 99 percent combined ratio for 2017 despite “substantial headwinds” from the Mexico earthquakes and California wildfires.Mon 26 Feb 2018
NewsM&ACalamos doubles down in $41.7mn Exin disputeGreek-American billionaire John Calamos has upped the ante in his dispute with Matt Fairfield’s Exin after he filed another lawsuit against the pan-European carrier in its home jurisdiction of the Netherlands.Mon 26 Feb 2018
NewsResultsUPDATE: Hiscox recovers to close down 2%Hiscox’s shares have pared earlier losses to close down 2 percent at 1367p after falling as much as 5 percent on the back of a challenging set of full year 2017 results this morning (26 February).Mon 26 Feb 2018
NewsM&AQBE sells LatAm business to Zurich as it confirms $1.25bn 2017 lossQBE’s new CEO Pat Regan has taken his first steps in simplifying the Sydney-headquartered (re)insurance group by selling its Latin American operations to rival Zurich for $409mn.Mon 26 Feb 2018
NewsResultsBerkshire Hathaway’s $3bn cat bill sends it to $3.2bn P&C lossBerkshire Hathaway has revealed that a $3bn catastrophe bill from last year’s hurricanes has pushed it to a $3.2bn pre-tax underwriting loss for 2017.Sat 24 Feb 2018