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Greater risk of negative underwriting results for reinsurers predicted by S&P

August 15, 2017 by Canadian Underwriter

With property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,

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Combined ratio up 2 points for SCOR

February 22, 2017 by Canadian Underwriter

Paris-based reinsurer SCOR SE released Wednesday its latest financial results, reporting a combined ratio of 93.1% in 2016, up 2 points from 91.1% in 2015. The combined ratio in the most recent quarter was 93.3%, up 1.1 points from 92.2%

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2016 ILS market larger in Q3 than Q2 for first time: Swiss Re

February 3, 2017 by Canadian Underwriter

New issuance volumes for insurance-linked securities (ILS) were atypical in 2016, Swiss Re reported on Friday, noting that for the first time, the third quarter was larger than the second quarter. While the second quarter is typically the busiest of

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

SCOR reports combined ratio of 93.8% for first half of 2016, up from 90.9% for the first six months of 2015

July 28, 2016 by Canadian Underwriter

Global reinsurer SCOR announced on Wednesday that its Global P&C segment recorded “strong technical profitability with a robust net combined ratio of 93.8% despite a high number of events in all perils and regions in the second quarter of 2016

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Q2 combined ratio up 5.3 points at Axis Capital

July 27, 2016 by Canadian Underwriter

Reinsurance provider and commercial specialty carrier Axis Capital Holdings Ltd. reported Tuesday its financial results for the second quarter, reporting a 76% increase in net income but a combined ratio of 102.2%, after large losses including the Alberta wildfires and

News CatastrophesInsuranceMergers and Aqcuisitions

AXIS Capital estimates US$104 million in Q2 2016 losses from weather and cat events, including Fort McMurray wildfire

July 19, 2016 by Canadian Underwriter

Pembroke, Bermuda-based AXIS Capital Holdings Limited announced on Monday its preliminary estimate of second quarter 2016 catastrophe and weather-related losses, including major losses from the Fort McMurray wildfire. AXIS Capital’s preliminary estimate of Q2 2016 cat and weather-related pre-tax losses

News CatastrophesInsuranceMergers and Aqcuisitions

Half of Aspen’s Q2 natural catastrophe loss from Alberta wildfire

July 14, 2016 by Canadian Underwriter

The recent wildfires in Alberta cost Aspen Insurance Holdings Ltd. roughly US$30 million, net of reinsurance and reinstatement premiums, the Hamilton, Bermuda-based carrier suggested in a press release Wednesday. Aspen’s initial estimate, of pre-tax losses, net of reinsurance and reinstatement

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Nat cats in Q2 2016 cost Chubb an estimated US$390 million

July 13, 2016 by Canadian Underwriter

Chubb Limited has estimated that natural catastrophe losses in the second quarter of 2016 cost the insurer US$390 million pre-tax, or US$315 million after tax. According to Chubb’s estimate, released on Tuesday, of the pre-tax total, US$320 million is from