October 2017/5

Asia Capital Re (ACR)'s board will not reopen the sales process that led to its $1bn abortive deal with Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings, The Insurance Insider understands.

With the recent hurricane season producing one of the costliest third quarters in history, underwriting profits have, unsurprisingly, been absent from Q3 earnings disclosures.

Third quarter results revealed widespread shrinking in reserve releases, with the majority of carriers that have reported so far posting a decline in favourable prior-year development relative to their respective premium bases.

P&C (re)insurers reported yet another quarter of deteriorating underlying margins, as third quarter accident-year ex-cat loss ratios rose by 1.3 percentage points year-on-year on a simple average basis at the companies under our coverage that have reported so far.

As growing loss ratios continued to pressure underwriting margins, third quarter results so far have revealed that (re)insurers turned to expense management to improve their results, while reduced variable compensation also came to the rescue.

P&C (re)insurers in our coverage group that have reported third quarter results so far have revealed strong top-line increases, with around half of their gross written premiums (GWP) growth rates well up into double-digit territory.

The third quarter could still go down as the costliest in the (re)insurance industry's history, with almost all the companies to report so far dragged to a loss and a significant portion of the sector's excess capital wiped out.

Losses sustained by Caribbean insurer Nagico during hurricanes Irma and Maria have not dented the allure of the business for 50 percent owner Peak Re.

A number of Lloyd's syndicates are set to take advantage of propitious pricing conditions next year with significant planned increases in stamp capacity, The Insurance Insider can reveal.

After years of malaise, the (re)insurance market may finally be facing a sea change following heavy third quarter catastrophe losses, as underwriting executives scramble to talk up rates.

(Re)insurers within The Insurance Insider's coverage universe have overwhelmingly exceeded expectations in third quarter disclosures to date.

Markel Catco Investment Management has raised more than $1.8bn in the reinsurance market's biggest ever one-off fundraising effort, which it said would enable it to fund its 1 January-renewing portfolio.