Axis Capital
-
The insurer returned to underwriting profit after last year’s Covid hit, but the reinsurance segment faced higher non-Covid cat losses. -
The carrier says it expects winter storms Uri and Viola to account for between $80mn and $90mn of claims absorbed during the period.
-
Climate change risk is not yet being properly reflected in pricing, the company chief warned.
-
The carrier’s combined ratio increased to 109.6% last quarter, up over 2 points year on year.
-
The deal took Alturas transactions to $115mn for the year to date as syndicated sidecars are expected to continue shrinking.
-
David Bangs joins from Willis Re Singapore where he worked for more than 15 years.
-
The carrier has returned to the bond market after a 2017 Northshore Re deal lapsed in June.
-
The carrier also reported lower managed premiums, which weighed on its results.
-
The president and CEO urges wordings precision to avoid cyber-related litigation.
-
The carrier has reduced its frequency risk while lifting exposure to tail events.
-
Bobby Kwan will help manage the reinsurer’s property portfolio in the region.
-
The insurer said it was two thirds of the way to attaching a UK reinsurance treaty.
