Insurers
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Market leaders Atradius and Coface have both received in-principle approvals for a Lloyd’s syndicate. -
California wildfire losses were partially offset by improved underlying underwriting.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The underwriter left Navium Marine last year and before that worked at Atrium.
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Tokio Marine HCC was below plan on income as the carrier prioritised bottom line.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Written premium increased by 31% to $2.41bn as top-line growth brought expense ratios down.
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Natural catastrophe claims remained consistent compared with the prior year.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The carrier also announced an increased share-buyback programme.
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