October 2017/5

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.

As third quarter cat loss disclosures roll in with the earnings season, a discussion is heating up in the market about whether recent events will generate the $100bn industry loss sources had been coalescing around.

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.

Qatar Re's Dubai-based head of marine will move to lead operations in Singapore following three departures in the recently licensed office, 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.

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

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.

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.

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.