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PartnerRe's transfer of its upstream energy insurance portfolio to Ark Syndicate Management continues a strategic refocus on reinsurance that the Bermuda-based company embarked upon after being acquired two years ago.
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US tax reforms will spur M&A transactions in the US and Bermuda this year, while Brexit malaise could benefit Asian deal-making, according to lawyers at Clyde & Co.
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Capital management trends at the US-listed companies we follow were disrupted in 2017 by higher catastrophe losses and M&A activity.
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London-based carriers generated mixed returns last year, with Beazley still delivering a relatively healthy profit, Hiscox just staying afloat and Lancashire sinking to a loss.
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Top line movements contrasted at our group of London-listed carriers in 2017, with each company targeting different opportunities in a difficult market environment.
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The Insurance Insider's group of London-listed carriers - Beazley, Hiscox and Lancashire - all posted worse underwriting margins for 2017 due to the year's catastrophe events.
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As the fourth quarter earnings season approaches its close, analysts have highlighted P&C pricing and accelerating industry M&A as potential tailwinds for the year ahead.
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On Monday Axa surprised markets with a $15.3bn deal to purchase Bermudian (re)insurer XL, with the $57.60 a share offer representing a 33 percent premium to the target's closing share price on 2 March.
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Operating returns on equity fell by 4.3 percentage points year on year to 5.4 percent in 2017 for our group of US specialty carriers, as the year's elevated cat losses eroded underwriting margins.
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Companies in our US specialty composite mostly posted higher combined ratios in Q4 2017, driven predominantly by increased underlying loss ratios, as well as slowing reserve releases.
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Gross written premiums for our group of US specialty insurers increased by 12.6 percent to $6.0bn in the fourth quarter, the strongest quarterly growth rate in the past four years.
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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 year.