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.
P&C non-life reinsurance underwriting performances deteriorated in the three months to 31 March for the companies in our global reinsurer aggregate, due to core loss ratio inflation, higher catastrophe losses and Ogden hits
