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The “wrap” layer of the product expands to provide a potential $500mn of cover compared with $200mn previously.
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The carriers claim in a lawsuit that Maiden wrongfully stopped paying claims in late 2018. -
PartnerRe sale talks, Fidelis capital raising and AIG results.
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Earnings decline in the international non-life business of the Japanese carrier.
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The firm returns to the black at underwriting level with a combined ratio of 95.8 percent.
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Large man-made losses limit the combined ratio improvement.
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The insurer said it had shaved about 7 percent off overall reinsurance costs.
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The French (re)insurer said the deal was in line with its “quantum leap” strategy to expand into profitable business lines and reinforce technical expertise.
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Natural catastrophe losses halve to $411mn, while the carrier releases reserves at the GI division.
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Improved pricing, a strong investment turnout and lower catastrophe losses propel profit more than threefold.
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The company said it had “dusted off” its pillared Purple product.
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Reinsurers have been keen to paint a picture of gains on the horizon in their analyst calls after their January renewals reports.
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