Results

HIIG combined ratio improved by 3 pts to 96.3% in Q3

HIIG improved its combined ratio by 3 points to 96.3 percent in a third quarter when it also cut its top line as part of underwriting actions taken by its new management team led by Andrew Robinson that included exits from monoline workers comp and lawyers and insurance agents liability.

Market dislocation pushes Kinsale’s Q3 NPW up 41% in Q3

Continued dislocation across the property casualty industry fuelled a 41 percent net premiums written (NPW) increase for Kinsale Capital Group during the third quarter, with president and CEO Michael Kehoe predicting the recent rate hardening will not peak until 2021 or possibly even later.

James River beats Q3 Wall Street estimates after “very strong quarter”

James River Group’s outgoing CEO has called the company’s results for 2020’s third quarter “very strong” after the business’ operating profit per share comfortably beat the average of analysts’ estimates.

RLI says its Q3 cat losses will be up to $45mn

US specialty insurer RLI has preannounced an estimated range of pre-tax cat losses for the third quarter of $35mn to $45mn, including the impact of a quartet of landfalling hurricanes.

IGI seeing “abundance” of E&S submissions, reveals limited Beirut port exposure

International General Insurance Holdings (IGI) has seen “an abundance of submissions and inquiries” in its newly launched excess and surplus (E&S) lines business since opening at 1 April, with the platform having written some $12.5mn of premium to date.

HIIG’s Q2 GWP falls on E&S and A&H reductions

Houston International Insurance Group (HIIG) has recorded a drop in gross written premiums in a second quarter that also included $40mn of development on reserves covered by its loss portfolio transfer (LPT) with Randall & Quilter.

IGI reports improved Q2 core income and Wall Street beat

International General Insurance Holdings (IGI) has ended its first full quarter of being traded on Nasdaq by recording an increase in core income and top line growth that included business written on its new E&S platform.

Hallmark files delayed Q1 results with $45mn goodwill write-down

US specialty insurer Hallmark Financial Services reported a small operating profit of $4.6mn in its much-delayed Q1 earnings release but fell to a $64.3mn net loss that included a $44.7mn write-down of goodwill and net investment losses of $29.3mn.

James River Q1 GWP plummets due to Uber cancellation

James River has reported a first quarter operating profit that beat analyst expectations but included a 27 percent drop in E&S gross written premium (GWP) and a deterioration in its combined ratio to 100.6 percent.

RLI reports in-line earnings and updates risk factors for Covid-19

RLI reported in-line operating profits and a net loss for the first quarter driven by market volatility as it also revealed in an SEC filing that it is updating risk factors affecting its business to reflect the potential impact of Covid-19.

E&S specialist Kinsale grows GWP 41% in 2019

Excess and surplus lines (E&S) writer Kinsale Capital Group has revealed its gross written premiums were up 55.4 percent in the fourth quarter and 41.4 percent for the full-year 2019.

James River reports 6.6% Q4 E&S rate increases and surge in submissions

James River has reported 41 percent growth of E&S premium in the fourth quarter while revealing renewal rate increases of 6.6 percent.

Alleghany highlights profitable 2020 growth opportunities after Q4 UW loss

TransRe and RSUI parent Alleghany reported an underwriting loss from its (re)insurance operations of $199mn for the fourth quarter and a big group earnings miss as its results were impacted by $284mn of catastrophe losses and reserve charges at CapSpecialty.

Further rate increases needed: Arch’s Grandisson

Arch Capital’s president and CEO Marc Grandisson believes the industry still needs further rate increases but said E&S and facultative reinsurance are showing particularly positive movement.

The Hartford shares slide 4% despite strong pricing outlook

Investors sent The Hartford’s share price down despite fourth quarter results that outperformed expectations and management’s bullish pricing commentary.

Reserve releases and lower cats push Selective to record Q4 EPS

Reserve releases and lower catastrophe costs combined to help Selective Insurance Group report record operating income for the fourth quarter of 2019, comfortably surpassing analysts’ expectations in the process.

Hallmark looks to capitalise on E&S tailwinds after Q3 growth

Hallmark Financial Services reported its gross written premiums increased 33 percent in the third quarter, as the US specialty insurer benefited from the big rate increases being seen on E&S business.

James River sees strong E&S rate increases and submission growth

James River’s operating profits for the fourth quarter fell short of Wall Street expectations despite improved underwriting results that contributed to an ROE for the year that was the highest since 2006.