The June/July 2016 renewal season has seen a continuation in market softening, though the magnitude of rate reductions is slowing, according to the latest 1st View Renewals report from Willis Re, the reinsurance business of Willis Towers Watson. Capacity withdrawals …
Zurich Insurance Group AG, Switzerland’s biggest insurer, posted a first-quarter profit that beat analysts’ expectations as Chief Executive Officer Mario Greco continues the overhaul of its biggest unit. Net income fell 28 percent to $875 million from $1.22 billion a …
Global reinsurance sector profits in 2016 will fall below 2015 levels as soft market rates, low investment income and an over-supply of capital continue to take their toll on the market, according to a new report from Fitch Ratings. Fitch …
Swiss Re AG, the world’s biggest reinsurer, reported lower first-quarter profit as the company bulked up its reserves and pricing in the industry remained under pressure. Net income dropped to $1.23 billion from $1.44 billion a year earlier, the Zurich-based …
In its most recent Reinsurance Market Report Willis Re, the reinsurance division of Willis Group Holdings plc, notes: “Faced with significant over-capacity and widespread pricing pressure, the growth in global capital dedicated to reinsurance has stabilized during the first half …
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the first quarter of 2015 of $156 million, or $1.54 per diluted common share, compared with $137 million, or $1.24 per diluted common share, for the first …
European insurers posted strong increases in earnings in the third quarter, helped by a slump in payouts for catastrophe damage, rising premium income, cost cuts and a weaker euro. Besides losses from the Malaysia Airlines jet downed over Ukraine and …
The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2013 global underwriting results for its member (re)insurers. 18 of its 21 member (re)insurers participated in the 2013 report. The companies write insurance and reinsurance from underwriting centers in …
