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“That’s one of the things we're monitoring ... but I think there are positive signs in the marketplace that litigation is down,” Garateix told analysts on the company’s third-quarter earnings call. -
ILS Advisers Index returns 1.23% in August, taking YTD gains to 10.75%.
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The carrier reported a Q3 combined ratio of 138.8% for casualty within the P&C re unit.
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The Bermudian firm said it expects the acquisition could drive more growth than the prior forecast of $2.7bn incremental premium.
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A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.
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Tim Mardon will become CUO at Aspen Bermuda Limited and a member of Aspen Re’s leadership team.
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The fund’s allocation to ILS decreased for the first time in three years.
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Axis set up a new casualty sidecar in the quarter.
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The ILS firm reported $6.8bn of assets under management at the third-quarter mark.
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The carrier returned $369mn of capital to third-party investors in Q3 from investors in the Upsilon and Vermeer vehicles.
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Up-to-date building codes could reduce the amount insurers pay in the Caribbean by 18%, according to the risk modeller.
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Commercial insurance pricing remained flat, increasing by 3% globally over the period, the same as the prior quarter.
