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Fee income – an area of patchy disclosure by reinsurers – was generally stable amongst early reporters. -
The insurer more than doubled fee income to $25.2mn on increased MGA business and after launching the Ki syndicate.
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The carrier said July flooding in Europe and South African unrest would bring losses in the mid-triple-digit million range for Q3.
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Universal Insurance Holdings reports premium growth and lower cat losses in Q2.
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The reinsurer grew its casualty pro rata reinsurance book by 64%, adding $218mn in GWP.
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The underwriting gain was Chubb’s best ever, and P&C growth was the fastest in 15 years, as CEO Evan Greenberg described the company as “firing on all cylinders”.
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The modeller said repairs to infrastructure could run into months.
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The carrier is expecting 30,000 property claims, as well as 5,000 vehicle claims.
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Finpro pricing is still soaring due to cyber ransomware claims and continued D&O pressure.
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The company grew P&C net written premiums by 47%, while the non-life combined ratio improved 32 points to 89% during the second quarter.
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The reinsurer stepped off five Florida domestic insurance programmes but has taken more E&S risk in the southeast US.
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The reinsurer posted intakes to its Medici and Upsilon funds.
