Your weekly re/insurance round-up, ending 1st November, 2024

This week, industry results took centre stage, accompanied by significant global developments and a series of notable personnel changes.

Chubb revealed that its Q3 P&C underwriting income climbed 12% to $1.5bn , while Everest's?reinsurance GWP rose to $3.3bn in the quarter .

At the same time, Arch's group net income hit $978m in Q3 , while?AXIS reported a net income of $173m .

Elsewhere,?SiriusPoint’s Q3 combined ratio strengthened to 84.4% as reinsurance GPW went up , and WTW posted a $1.67bn net loss in the quarter .

Meanwhile, MAPFRE RE disclosed that premiums reached €6.3bn in the first 9 months of 2024 , while AXA XL Re's premiums in the same period jumped 10% to €2.4bn .

In other developments, Aon observed that re/insurers are well placed to absorb Helene & Milton losses of up to $54bn , and Morningstar DBRS said that insured losses from the recent flooding in?Spain will be well above €1bn.

It was additionally reported that?Howden has launched a new cyber insurance solution backed by Mosaic, Chubb and LSM , and that?Aviva completed a ￡1.3bn buy-in with the RAC Pension Scheme .

Gallagher also further expanded its services with the establishment of alternative risk management solutions in the Abu Dhabi Global Market through its wholly-owned subsidiary, Artex .

Turning to the key people moves,?Price Forbes Bermuda promoted Carrie Kelley to Chief Executive Officer , and?Enstar named Paul Brockman Chief Commercial Officer .

NewRe also announced the appointment of Dr. Claudia Strametz as President of its Board of Directors .

We’ll continue to update you with more coverage of the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!