November 2019/1

As claims from Dorian and Faxai dent Q3 results, this publication assesses the impact on the market so far.

AIG’s AlphaCat-managed ILS funds grew AuM by $200mn in Q3, while assets at Nephila, Hiscox ILS and Mt Logan dipped in the quarter.

A more litigious environment in the country has pushed up claims frequency and severity.

Travelers chairman and CEO Alan Schnitzer is a vocal critic of a US litigation culture he claims imposes a “tax across society”. A worsening tort environment was the driving factor in the carrier’s own quarterly earnings shortfall, and has also emerged as key theme of the third quarter reporting period.

After years of cheap capacity and widening terms, complex accounts renewing in recent weeks have attracted low double-digit rate hikes.

Now is the time to prove the growth rationale behind the 2015 Ace-Chubb merger, Inside P&C analysts said.