Results

The 5%-7% uplift came in ahead of a smaller November gain connected to 2019 catastrophes.

The group will look to build on synergies between its insurance platforms.

The ILS firm’s management fees, however, fell back compared with 2020.

CEO Albert Benchimol pledged to grow the company’s specialty business as the catastrophe portion of its 1.1 book shrank by 10 percentage points.

The company lowered its full-year core loss ratio 2.6 points to 55.1% and posted a $266mn full-year underwriting gain.

The company’s DaVinci fund grew by $500mn as it took in a higher share of cat risk from the group.

The third-party capital raise came in 24% lower than January 2021, as the DaVinci sidecar took most inflows.

The insurer increased its occurrence treaty coverage by $300mn as the aggregate deal shrank, following a full loss to reinsurers in 2021.

An RAA study found that for the nine months ended September 30, the combined ratio for group of US reinsurers deteriorated by 0.5 points to 100.7%.

Catastrophe losses push P&C industry CR higher, send industry to underwriting loss for first nine months of the year, AM Best estimates.

The four major European reinsurers reported strongly improved results in the first nine months of 2021, despite the heavy toll of catastrophe claims, according to analysis from Fitch.

The financials from the listed Floridians show them plotting a path through challenges by exposure management and rate rises, but reinsurers are still picking up notable storm losses from this reinsurance-reliant group.