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The carrier booked $45mn Q2 cat losses net of retrocession that included $41mn from Natal Floods and $4mn associated with the Australian floods. -
The (re)insurer’s investment results were fueled by a net loss of $57.3mn from its investment in the TP Enhanced Fund.
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The managing agent – one of the best performing in Lloyd’s – said the raise was in response to expected premium growth and a strengthening US dollar environment.
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The short duration of the bonus period suggests retention pressure at the London wholesaler.
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The new rules are designed to ensure principal firms enhance oversight of systems and controls across appointed representatives.
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The carrier completed legacy deals within both its Re & ILS and London market segments.
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Jackson, Whitesburg and Garrett have been heavily affected after torrential rain.
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The carrier is in growth mode in reinsurance following a period of caution, owing to pricing concerns.
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The perishable cargo specialist led coverage for the global distribution of Covid-19 vaccines.
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The move would enable the Lloyd’s ILS platform to access investors with lower risk-return appetites after launching with quota share options only.
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The carrier posted $48mn of losses relating to Ukraine and said that rates were keeping pace with inflation.
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Axa also announced the launch of a group EUR1bn share buy-back scheme.
