Results

Gross written premium grew across all business lines, with P&C reinsurance reporting a 37.5% increase.

The combined ratio for Hannover Re’s structured reinsurance and ILS fronting business came in just better than target at 98.2%.

The reinsurer raised $122mn in Q3, including $100mn for PGGM joint venture Vermeer and $22mn in its cat bond fund.

Hiscox is approaching the January 1 reinsurance renewals “with excitement”, and is ready to deploy extra capital if pricing proves sufficiently attractive, the CEO said.

The insurer also emphasized that it realised more than $300mn from selling two MGA operations.

Peter Zaffino said AIG expected to able to source similar levels of reinsurance capacity as currently given its relationships with counterparties.

The reinsurer manager described Q3 net inflows as “broadly stable”.

The company’s third-party assets dropped $178mn during Q3 to $4.2bn.

AIG’s Q3 net cat losses of $600mn included $450mn from Hurricane Ian.

The ILS platform has dipped to $7.8bn in assets under management, as ILS revenues were down 44% after the sale of Velocity.

The company’s combined ratio edged up by 0.3 points despite a two-point reduction in expenses and a 3.4-point reduction in cats.

A 3.9-point decline in the casualty and specialty segment offset a 2.5-point deterioration in the company’s property business.