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Cincinnati Financial beats with $97mn profit

Cincinnati Financial surpassed the expectations of analysts to deliver a $97mn third quarter operating profit despite forecasting up to $114mn in cat losses.

Dan Ascher, 26 October 2017
Gallagher just beats Street as organic growth rises

Acquisitive broker AJ Gallagher narrowly exceeded Wall Street estimates in posting a third quarter profit of $0.81 per share as organic revenue growth edged higher to 3.5 percent in its brokerage segment.

Ted Bunker, 26 October 2017
California wine country wildfires may cost $3bn: AIR

A string of wildfires that struck northern California’s wine region earlier this month will lead to an estimated $2bn to $3bn in industry insured losses, AIR Worldwide said.

David Bull, 26 October 2017
Prime Risk buys financial lines broker Gunn Steers

Broker consolidation platform Prime Risk Partners (PRP) has acquired financial lines broker Gunn, Steers & Company.

Dan Ascher, 26 October 2017
Lloyd’s Brussels to start with clean underwriting slate

Lloyd's has confirmed that no existing books of European business will be transferred to the Lloyd's Brussels platform once it is operational.

Catrin Shi, 25 October 2017
HIM ‘more than an earnings event’ for carriers: Hancock

Hurricanes Harvey, Irma and Maria (HIM) will trigger capital reallocations at some insurers but will not jeopardise the solvency of Lloyd's carriers, according to Lloyd's director of performance management Jon Hancock.

Laura Board, 25 October 2017
Hannover Re strives for rate stability on loss-free business

Hannover Re said it would target loss-stricken business for payback from Q3 catastrophe losses, and strive for stable rates on loss-free reinsurance lines and geographies.

Laura Board, 25 October 2017
QBE Ventures makes first InsurTech investment with RiskGenius

QBE dipped into a $50mn venture investment fund to invest in RiskGenius, a developer of machine learning systems which the insurer expects to begin using in North America next year.

Ted Bunker, 25 October 2017
Zurich hires Tresadern to spearhead downstream comeback

Zurich has lured Steve Tresadern away from Talbot as it prepares to re-enter the downstream energy market in London, The Insurance Insider can reveal.

Adam McNestrie, 25 October 2017
Epic buys $80mn NE broker Frenkel & Co

Expansive private equity-backed retail broker Epic has added significantly to its run-rate revenues with the acquisition of Frenkel & Company.

David Bull, 25 October 2017

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