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Bermuda’s global insurers, reinsurers could fund at least US$25 billion of insured losses from hurricanes

October 11, 2017 by Canadian Underwriter

Bermuda market firms may fund at least a quarter of the estimated US$100 billion in aggregate insured losses from hurricanes Harvey, Irma and Maria, suggest preliminary aggregated loss estimates from the Association of Bermuda Insurers & Reinsurers (ABIR). “Based on

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Q2 combined ratio improves 4.2 points for Intact, OneBeacon acquisition “on track to close” in 2017

August 1, 2017 by Canadian Underwriter

Intact Financial Corp. reported Tuesday its underwriting income was $103 million during the three months ending June 30, up $87 million from $16 million during the same period in 2016. Toronto-based Intact said direct premiums written rose 2%, from $2.458

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Absence of large losses contributes to 20.6-point drop in Q2 combined ratio for PartnerRe

August 1, 2017 by Canadian Underwriter

PartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Combined ratio down 4.6 points at Axis Capital

July 28, 2017 by Canadian Underwriter

Axis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Combined ratio down 4.6 points for Everest Re

July 25, 2017 by Canadian Underwriter

Everest Re Group Ltd. reported Monday catastrophe losses, net of reinsurance, of $53.5 million in the three months ending June 30, with a 4.6-point improvement in its Q2 combined ratio to 90.5%. All figures are in United States dollars. Hamilton,

News InsuranceMergers and AqcuisitionsReinsurance

Fairfax completes acquisition of Allied World

July 6, 2017 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings Ltd. has completed its acquisition of Allied World Assurance Company Holdings AG, the firms announced Thursday. The deal was valued at nearly $5 billion when it was announced Dec. 18, 2016. All figures are in U.S.

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Combined ratio up 2.1 points, non-life premiums down 14% at PartnerRe

May 5, 2017 by Canadian Underwriter

A change in the measure used to calculate lump sum awards in bodily injury cases in Britain had an impact on PartnerRe Ltd.’s financial results, which the Hamilton, Bermuda insurer released Wednesday. PartnerRe, which has a Toronto branch office, reported

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Aspen posts net income after tax of US$95.5 million for first quarter of 2017

April 27, 2017 by Canadian Underwriter

Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net income after tax of US$95.5 million for the first quarter of 2017 ending March 31, down from US$114.4 million in the same quarter of 2016. The insurer’s operating income after

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Non-life premiums down 4% at PartnerRe

October 28, 2016 by Canadian Underwriter

PartnerRe Ltd., which writes commercial insurance and reinsurance worldwide, reported this week a 4% drop in Q3 non-life premiums while the combined ratio was essentially unchanged at 82.7% PartnerRe, which is based in Pembroke, Bermuda and has a Toronto office,

News CatastrophesClimate ChangeEarnings / RatingsInsurance

Argo Group International Holdings Ltd., Blue Capital Reinsurance Holdings Ltd. report Alberta wildfires will have second-quarter impact

July 18, 2016 by Canadian Underwriter

Estimated losses from the Fort McMurray wildfires have hit another two companies operating in the reinsurance industry, with Bermuda-based Argo Group International Holdings Ltd. and Blue Capital Reinsurance Holdings Ltd. reporting late last week the event will have an impact