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.

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.

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.

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.

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.

XL Catlin is set to pay a higher coupon for a $150mn top-up to its cat bond cover as it agreed pricing terms on a new Galileo Re insurance-linked securities (ILS) transaction last week, Trading Risk reported.

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

Contrary to the popular mythology that journalists are fuelled by an almost exclusive diet of hard liquor, we scribes actually function on a steady stream of tea and coffee.

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.