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Lancashire posts $136mn Q3 loss after $165mn in major claims

London-listed Lancashire Holdings predicted "meaningful" rate increases after it swung to a $136.4mn pre-tax loss in the third quarter following $165mn of losses from the North Atlantic hurricanes and the Mexican earthquakes.

Catrin Shi, 02 November 2017
Cat losses push Swiss Re to nine-month loss of $468mn

Swiss Re fell to a group net loss of $468mn for the nine months to 30 September as its Corporate Solutions unit took the biggest hit from hurricanes Harvey, Irma and Maria (HIM) and the Mexican earthquakes.

Catrin Shi, 02 November 2017
Allstate impresses with strong Q3 earnings beat

Allstate significantly outperformed Wall Street forecasts as it shrugged off third quarter cat losses to report a 24 percent increase in operating profit to $587mn.

David Bull, 02 November 2017
James River just beats as CEO Abram steps back

James River narrowly beat analysts’ expectations for Q3, which will be Adam Abram’s penultimate quarter as CEO after he announced plans to hand the reins to president and COO Robert Myron.

Dan Ascher, 02 November 2017
The Hanover posts a profit battered by Q3 cat losses

The Hanover’s operating profit plunged 94 percent to $4.7mn for the third quarter but still topped Wall Street estimates calling for a loss in the wake of Hurricanes Harvey, Irma and Maria as well as two major earthquakes in Mexico during the period.

Ted Bunker, 02 November 2017
Attune names key leaders in Dreiling and Stamets

Attune, the venture backed by Hamilton Insurance Group, AIG and fund manager Two Sigma, has appointed two key managers, bringing one aboard from OnDeck, where CEO James Hobson previously worked.

Ted Bunker, 02 November 2017
AIA names ex-Chubb COO and New Jersey AG Degnan as CEO

The American Insurance Association has appointed former Chubb COO and New Jersey attorney general John Degnan as president and CEO.

Dan Ascher, 02 November 2017
Florida orders a deeper workers’ comp rate cut

Workers’ compensation premiums in Florida will fall 9.8 percent next year under an order issued yesterday by state insurance commissioner David Altmaier. His order requires a 9.3 percent rate cut.

Ted Bunker, 02 November 2017
JLT Specialty names Phebus as US mining boss

JLT’s US specialty operation has named Dan Phebus, a Newmont Mining risk manager, to lead its mining practice in the Americas.

Dan Ascher, 01 November 2017
Heritage ekes out small profit despite Irma loss

Heritage posted a small operating profit for the third quarter despite a gross $388mn loss from Hurricane Irma, of which it retained just $20mn after reinsurance recoveries

Fiona Robertson, 01 November 2017

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