Travelers

Travelers beats in Q1 as top line swells to record levels

US commercial and personal lines giant Travelers has beaten the expectations of analysts in the first quarter, delivering a core income per diluted share of $2.83, as gross written premium ballooned to a record $7.84bn.

Arch hires Travelers’ Boquist to lead new admitted energy platform

Arch has launched a new business unit to provide admitted middle market insurance solutions to energy companies in North America.

Travelers gains regulatory nod for Irish post-Brexit hub

Travelers Europe has been granted a licence by the Central Bank of Ireland for a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland.

Travelers buys new $430mn North America agg cover

Travelers bought a new $430mn North American property aggregate cat excess-of-loss cover at 1.1 that it says it would have fully recovered on in each of the last two years given the elevated level of industry losses.

Travelers underlying underwriting results help offset higher cat losses

Travelers reported fourth quarter core income broadly in line with Wall Street forecasts despite higher cat losses and lower reserve releases as better underlying underwriting performance, higher investment income and a lower tax rate boosted the bottom line.

D&F writers face $30mn US Ecology loss

London underwriters are facing their share of a $30mn loss after an explosion at a hazardous waste facility in Grand View, Idaho last month, The Insurer can reveal.

California wildfire losses to hit ‘record levels’

Industry losses resulting from California’s latest round of devastating wildfire activity will be at record levels, AM Best has said.

Morgan Stanley: California Camp wildfire could cost up to $4bn

Insured losses emanating from the Camp wildfire raging across Northern California, already the most destructive in US history, could total as much as $4bn but insurers may be able to mitigate their net loss by recovering from state utility company PG&E, according to analysis by Morgan Stanley today.

Travelers profit more than doubles in Q3 as cat losses shrink

US commercial and personal lines giant Travelers reported saw net income more than double in the third quarter as catastrophe losses fell from the prior year.

Amazon strengthens insurance offering with Travelers partnership

Amazon has planted another flag in the insurance market through a partnership with US carrier Travelers.

Travelers CFO Benet steps down with plaudits

Travelers long-serving CFO Jay Benet had his retirement greeted with plaudits this week after nearly 17 years in the role.

Travelers misses as cat losses top expectations

Travelers disappointed analysts in the second quarter to deliver a $494mn profit that was dented by a higher-than-expected catastrophe bill.

UPDATE: Travelers shares shed 4% after cat-scarred Q1 results

Travelers shares have dropped nearly 4 percent at the open in New York after the firm posted a worse-than-expected set of Q1 results this morning.

Axis and XL Catlin to benefit long-term from rising interest rates

As interest rates continue to nudge upwards, (re)insurers including Axis, Maiden Holdings, Travelers and XL Capital will be likely long-term beneficiaries, according to research by JMP Securities analyst Matt Carletti.

California regulator threatens profits cap only months after $12bn+ wildfire losses

Despite US and global (re)insurers facing a loss bill of over $12bn from the fourth quarter California wildfires, the populist state insurance commissioner Dave Jones (pic) has today (23 January) threatened to cap profits for state regulated insurers.

Travelers smashes analyst estimates with $633mn Q4 profit

US 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 season

After 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).

Cargo still adrift warns Derrick

The chair of the International Union of Marine Insurance (IUMI) Cargo Committee, Nick Derrick has warned the specialist marine market that has to evolve if it is to remain sustainable.