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.
Top line movements contrasted at our group of London-listed carriers in 2017, with each company targeting different opportunities in a difficult market environment.
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.
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.
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.
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.
