-
The carrier also offered assurances on the strength of its reserving to combat inflation. -
Gross written premium grew across all business lines, with P&C reinsurance reporting a 37.5% increase.
-
The reinsurer raised $122mn in Q3, including $100mn for PGGM joint venture Vermeer and $22mn in its cat bond fund.
-
Peter Zaffino said AIG expected to able to source similar levels of reinsurance capacity as currently given its relationships with counterparties.
-
The company’s third-party assets dropped $178mn during Q3 to $4.2bn.
-
A 3.9-point decline in the casualty and specialty segment offset a 2.5-point deterioration in the company’s property business.
-
Perils said the storm tracked through an area of low value concentrations.
-
The previous estimate, released in May 2021, pegged the losses at A$1.016bn.
-
Benchimol said there was a risk of losing business, but more important was the transition to a specialty carrier with low volatility.
-
CEO Andrade said the hardening property cat market was a “tremendous opportunity” for the Bermudian.
-
The Bermudian’s operating loss per share, however, grew nearly four times from the prior-year quarter to $5.28 per share.
-
The two Lloyd’s players are the first to bring sidecars to market as they seek to capitalise on surging projected returns.
