Reinsurer Swiss Re reported on Thursday a smaller-than-expected profit in 2019 due to claims for a series of man-made and natural disasters, as well as expenses for its U.S. casualty business, sending its shares lower. Net profit in the year rose 73% to $727 million, up from $421 million in 2018, but analysts had expected… Continue reading Swiss Re Misses Expectations Amid Storms, U.S. Casualty Claims
Tag: catastrophe claims
Hiscox Set to Drop Out of FTSE 100
Specialist re/insurer Hiscox is set to drop from the FTSE 100 this week as ongoing claims arising from hurricane Dorian and typhoons Hagibis and Faxai continue to dent profitability. The insurer last month set aside $165 million to cover the aforementioned storms and have seen its share price fall 12% since the beginning of September.… Continue reading Hiscox Set to Drop Out of FTSE 100
Large Claims Bill Dents Swiss Re’s 2018 Net Income
Global reinsurance giant Swiss Re has reported Group net income of $421 million for the full-year 2018, as estimated large claims of $3 billion significantly impacted the performance of both its property and casualty reinsurance (P&C Re) and Corporate Solutions’ units. As well as the hit from catastrophe events in 2018, which, according to the… Continue reading Large Claims Bill Dents Swiss Re’s 2018 Net Income