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The results benefit from higher alternative investment income, which offset a weaker underwriting performance.
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The organic increase tops the broker's publicly traded peers.
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Company said loss trends continue to have a “major impact” on operating results.
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The Alabama-based insurer missed EPS consensus by 77 percent in Q1 2019 with a combined ratio of 106.3 percent.
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Axis Capital’s disclosure points to losses at AIG that could exceed the $848mn previously predicted from the events, Buckingham Research says.
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The workers’ comp specialist increases earnings and levels the top-line despite the workers’ comp pricing headwind.
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The broker described rates as still competitive but pointed out that there are certain lines where increases are notably higher than others.
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ILS financing partially offsets the shortfall.
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The broker is back to growth following a disappointing 2.1 percent organic revenue drop in Q4.
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Lloyd's is introducing yet another layer of oversight on the worst performing business within the market.