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Heritage reported earnings per share of $0.44 last night, beating analyst estimates of $0.38/sh.
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Third Point Re posted a strong improvement in underwriting results last night, with the company’s ex-cat combined ratio hitting below 100% for the second consecutive quarter and for the year.
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The Boston-based mutual insurer swung to a $299mn quarterly net loss from continuing operations as a $555mn reserve charge from liability, casualty, and specialty lines hurt results.
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Losses at StarStone narrowed as the carrier cut premiums while Atrium profits were up 90 percent.
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CEO Richard Brindle said the company’s cautious approach to specialty lines had been vindicated.
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Large losses push the group fourth-quarter result below expectations.
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The Floridian ended 2019 with another disappointing quarter that included lower catastrophe losses, offset by prior year development and a current accident year true-up.
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Japanese catastrophe losses keep P&C in the red as the group result beats forecasts.
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Argo kicked off a new era under new leadership as it looked to rebuild bridges with external stakeholders after a bruising 2019, hinting at a bold plan to “simplify, reduce and eliminate”.
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The Bermudian has put its corporate jet up for sale in wake of public criticism over expenses.
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Argo reported an operating loss of $2.15/sh, including a $114mn underwriting loss that was mainly the result of a $77mn reserve charge tied to its London, Bermuda, and European operations.
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Executives cite strong rate growth as they predict a 2021 AGCS combined ratio of 97 percent.