Your weekly re/insurance round-up, ending 2nd August 2024

This week brought another wave of results, along with numerous industry personnel changes and broader developments.

SCOR reported a Q2 net loss as its L&H assumption review more than offset a solid P&C result, while?AXA XL’s H1 GWP & other revenues hit €32.5bn.

Elsewhere, AIG saw a Q2 net loss of $4bn driven by the Corebridge deconsolidation, and?Everest revealed a rise in Q2 net income amid a strong reinsurance result.

At the same time,?PartnerRe’s H1 operating income fell due to increased cat losses and reserve strengthening, while both AXIS and Arch Capital saw improvements in their underwriting income.

In other developments,?Munich Re observed that H1 global insured nat cat losses are 68% higher than the ten-year average, and Guy Carpenter noted that the CrowdStrike global IT outage will likely cause insured losses between $300m & $1bn.

Meanwhile, it was disclosed that Sixth Street will purchase Enstar in a $5.1bn transaction, and that Miller has acquired the reinsurance capital advisory business 4809 Brokers AG.

Boost Insurance also secured equity investment from BHMS, and?Talcott Financial Group unveiled its first flow reinsurance agreement in Japan.

Turning to the key people moves, Andy Foot joined Howden Re as Managing Director, Marine, Energy & Terror Treaty, and?Michael Eberhardt was named Managing Director and CUO of Hannover Re Bermuda.

Concurrently, Beazley appointed Jessica Schappell as Head of APAC, and?Swiss Re placed Anders Malmstr?m to succeed John Dacey as Group CFO.

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!