First quarter annualised operating returns on equity (RoEs) fell year-on-year for companies in our coverage, as underwriting results were negatively impacted by Ogden charges, weaker underlying performances and higher catastrophe losses.
Catastrophe losses surpassed initial approximations in the first quarter, reaching record levels as the majority of claims hit in the last two weeks of the period.
P&C (re)insurance companies reported waning profitability in the first quarter of 2017, as returns were squeezed by a combination of one-off charges, underlying deteriorations and elevated cat losses.
The last full trading week of May brought gains for stocks in the P&C (re)insurance industry, with share price increases significantly outweighing reductions.
First quarter annualised operating returns on equity (RoEs) fell year-on-year for companies in our coverage, as underwriting results were negatively impacted by Ogden charges, weaker underlying performances and higher catastrophe losses.
