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This publication reported yesterday that Talanx was closing in on the sale. -
AIG leads the all-risks cover and Axa XL is the hull war lead.
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CEO Alex Maloney said Lancashire’s growth was “more measured” amid softening.
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Natural catastrophe claims remained consistent compared with the prior year.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The loss was driven by nat cats and reserve adjustments in US casualty.
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California wildfires account for $40bn of the insured loss tally in H1.
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The carrier also announced an increased share-buyback programme.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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The carrier said most lines remained well priced despite increased competition.
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Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.
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With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.
