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Rob Berkley, CEO of WR Berkley, has said his firm will not pull out of reinsurance despite what he termed a “frustrating” period for the segment.
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Universal Insurance posted first quarter earnings that were up about 30 percent on a year earlier as improving expense ratios accompanied a sharp rise in premiums.
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North American winter storms took their toll on several carriers during the first quarter of 2018.
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Aviation rates held flat during first quarter renewals as underwriters prioritised profitability above volume or market share, according to JLT’s latest Plane Talking report.
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(Re)insurers must be prepared for the possibility of more frequent multiple-disaster years in future, according to a Swiss Re report.
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A powerful spring storm system affecting two-thirds of the US last week has caused "hundreds of millions" of dollars' worth of insured losses, Aon Benfield said.
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Allstate took an estimated $361mn in pre-tax catastrophe losses and unfavourable cat reserve developments in the first quarter.
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PCS has increased its loss number for Hurricane Harvey to $17.1bn from $15.7bn, according to Trading Risk sources.
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Last year was the worst on record for catastrophe losses, but (re)insurers must be prepared for the possibility of more frequent multiple-disaster years in future, according to a Swiss Re report.
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The US P&C industry's reserving deficit deepened to $4.3bn in 2017, according to research from Morgan Stanley.
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Catastrophe data aggregator Perils lifted its estimate for insured damage from windstorm Friederike to just under EUR1.63bn ($2bn), up about 11 percent from its initial calculation.
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The aviation market has settled a major loss relating to the grounding of faulty Airbus helicopters last year for more than $100mn less than initially feared, The Insurance Insider can reveal.
