Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Berkshire has first annual underwriting loss in years

Berkshire Hathaway’s insurance operations fell to a fourth quarter underwriting loss of $627mn, as its reinsurance group swung to a $1.31bn pre-tax underwriting deficit for the period, driven partly by wildfires in CaliforniaRead more

James River shares plunge on big Q4 earnings miss

James River shares dropped as much as 13 percent in early New York trading today after the (re)insurer’s fourth quarter earnings fell far short of Wall Street expectations because of reserve strengthening involving a single commercial auto accountRead more

Chubb bails from NRA program amid NY probe

Chubb’s withdrawal from the National Rifle Association’s (NRA) Carry Guard insurance offering is directly related to a probe begun last year by New York’s insurance regulator into unlicensed activity regarding marketing and fees tied to the program, according to a sourceRead more

MS Amlin pulls backing from Ortac MGA

MS Amlin has warned Ortac that it will withdraw capacity from the general aviation MGA, The Insurance Insider understandsRead more

FM Global’s EU unit wins A+ AM Best rating

FM Global’s newly established European unit received an A+ financial strength rating from AM Best, which also affirmed the parent mutual property insurer’s A+ grade todayRead more

Lockton taps Moitoso to replace DeSett in risk post

Lockton has appointed Mark Moitoso to lead its Risk Practices organization, filling the position vacated when Tim DeSett left for AIG last monthRead more

News analysis

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Bermudian ex-cat underwriting margin erosion lingers in Q4

Underlying results at Bermuda-based (re)insurers worsened in the fourth quarter of 2017, as the group's accident-year ex-cat loss ratio deteriorated year on yearRead more

Bermudians see 18 months of profits cancelled out

Although Q4 was another messy and loss-hit quarter for Bermudian carriers, when looking at the group's results it is perhaps more important to step back and observe the full-year and longer-term trendsRead more

Bermudians write a quarter more business in Q4

The six listed Bermudian (re)insurers all reported higher premium growth in the fourth quarter of 2017, as their top lines were bolstered by a combination of M&A, reinstatement premiums, back-up covers and positive rate momentumRead more

Political risk capacity grows 30% in 3 years: BPL

Global credit and political risk insurance capacity has increased by nearly a third since 2015, with the market increasingly willing to take on financial risks without trade collateralRead more

P&I clubs using equities to ‘hide' underwriting results

Protection and indemnity club leaders canvassed by The Insurance Insider have raised concerns that double-digit year-to-date returns from equity investments are allowing clubs to hide imprudent underwritingRead more

More coverage

Mergers & Acquisitions

Canopius MBO set to close in early March

Centerbridge's acquisition of Lloyd's carrier Canopius is poised to close early next month, The Insurance Insider understands.Read more

Trading RiskAll Articles
The reinsurance convergence market uncovered

Mexican cat bond escapes earthquake trigger

A 7.2-magnitude earthquake which hit Mexico on Friday (16 February) will not trigger a payout from the World Bank's new CAR 118-119 cat bond, sister publication Trading Risk reported. Read more

Loss fileAll Articles
Major losses and claims tracked

Hail losses push Suncorp over H1 nat cat budget

Australian carrier Suncorp exceeded its natural catastrophe claims budget for the six months to 31 December by A$65mn ($51.8mn), primarily driven by losses from the Victoria hailstorm in December. Read more

The latest on litigation and legal developments

Hiscox data watchdog case dismissed

Hiscox has been cleared in a criminal prosecution brought against the carrier by the UK Information Commissioner's Office (ICO) after the prosecution's key witness fell ill.Read more

BriefingsAll Articles
Mapping the regulatory and legislative landscape

Irish central bank orders CBL Europe to stop writing new business

The Central Bank of Ireland (CBI) has ordered the European arm of New Zealand-headquartered credit surety insurer CBL to stop writing new business with immediate effect.Read more

Solvency IIAll Articles
All the latest news and analysis

PRA begins third leg of Solvency II consultation

The Prudential Regulation Authority (PRA) has begun the final part of a consultation about the Solvency II regulatory framework with proposals to streamline reporting requirements under the EU-wide regime.Read more

In-depth coverage of the run-off sector

AmTrust to RITC Syndicate 2526 legacy business

AmTrust is seeking a reinsurance-to-close (RITC) transaction for the four most recent years of account at Syndicate 2526. Read more

Inside FACAll Articles
Full coverage of the facultative reinsurance market

India’s Reliance secures $4.7bn cat limit for Jamnagar refinery

One of the largest ever Indian petrochemical reinsurance policies has been placed in the London market, after Reliance Industries increased the production capacity of the world's largest refinery complex, The Insurance Insider understands.Read more

Insider Comment

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Stop making sense

Insurance is a really simple business. You take in premiums and you use them to pay out claims. Anything left over is profitRead more

Research & Supplements

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Bermuda RT 2017-18

Bermuda Roundtable Winter 2017/18

The reinsurance migration calendar doesn't usually bring me to Bermuda in DecemberRead more

SIRC 2017

SIRC 2017

There are complex dynamics around the regulation of reinsurance in emerging markets, including much of AsiaRead more

Bermuda RT October 2017

Bermuda Roundtable Autumn 2017

Bermuda is blessed with some of the best restaurants I've ever had the pleasure to attend, and seafood features heavilyRead more

BB 2017 Day 2

Baden-Baden 2017 Day 2

Welcome to the second of our daily editions from the 2017 Baden-Baden Reinsurance SymposiumRead more

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