Results

The insurer said the estimate represents a 13.9-point impact on its Q3 combined ratio based on earned premiums.

The estimate is driven by $540mn of losses attributable to Hurricane Ian.

The carrier expects its underwriting track record to help it secure favourable reinsurance terms in a tough market.

Hurricane Ian could present a challenge for ILS fundraising conversations this autumn if ILS firms do not find more financing solutions to manage trapped capital, according to panellists at Trading Risk New York 2022 last week.

The industry’s performance was running ahead of last year as of end of August.

The industry net loss and LAE ratios decreased 7.3 points year-over-year, while expense ratios improved by 5.9 points.

The open market arm of the French state-backed group faced Ukraine and hailstorm losses.

The broker found reinsurers’ underlying RoE had improved during the period but still fell short of the cost of capital.

Randall & Quilter’s ambition is to launch additional vehicles once Gibson Re’s $300mn is deployed.

Cat bond funds posted their first profitable month since March.

ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.

In 2021, the US-Bermudian reinsurance composite’s combined ratio improved six points YoY.