Share buybacks unhindered by Q1 cats
If any additional evidence is required that there is ample
capital floating around the (re)insurance industry, then the Q1
share repurchase schemes provide undeniable proof (see table).
Against the backdrop of the "worst first quarter on
record" for catastrophe losses, capital was handed back to
shareholders in abundance. And the double whammy of Chile and
European Windstorm Xynthia barely grazed (re)insurers' balance
sheets.
Overall, shareholders' funds trended upwards through Q1, with
our sample showing a 2 percent increase in total...
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