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The Spanish (re)insurer reported a group net profit of EUR829mn. -
Prices were 37.4p per £1 of capacity, according to Argenta.
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The broker grew earnings per share by 12.1% during the quarter.
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Opportunities for profitable growth in cat will be hard to predict, the executive said.
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The French reinsurer improved its P&C combined ratio by 7.4 points to 80.9%.
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The broker is monitoring whether the economic environment will limit discretionary spending.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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Jason Keen joined Everest in 2022 as head of international.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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The carrier is consolidating its venture capital activity into asset manager MEAG.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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Private capital providers are being signed down as two strong years have piqued interest.
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The London MGA is considering various options, including a minority investor.
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The appointments are aimed at offering a clearer team structure.
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The EUR100mn+ Ebitda firm is courting both PE and trade suitors.
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The hire will lead the firm’s UK and Europe operations.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
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The financial services growth strategy could be “turbo-charged” by involving brokers, it said.
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Part five in our series looks at how AI can empower brokers to add value as well as speed.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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The investor has made four new investments post-H1.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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Munich Re is among the insurers with a stake in the German carrier.
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The change forms part of a broader leadership reorganisation.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Insurance grad vacancies were down 18% year-on-year in the UK, ahead of a 3% nationwide drop.
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Jamie Smith joined Arch in 2018, taking on the senior underwriter role in 2022.
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Debbie Hobbs joined Miller in 2021 from EmergIn Risk.
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Michael Shen will be succeeded by deputy Camilla Walker.
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The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
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Class actions and third-party litigation funding will drive up losses.
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The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
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Manuel Perez will continue in his ongoing role as head of cyber for LatAm.
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Jennings will reunite with Cameron-Williams, who he worked with at BDO.
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White will join from Allianz trade, and Summers from Talbot.
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The reinsurer plans to grow its US business at a higher rate than its non-US business.
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The carrier has hired José David Jiménez García as managing director for Germany.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The Ryan Specialty renewables MGA launched an international arm last year.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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