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December gains of 0.05% marked the third consecutive positive monthly return. -
The private equity fund has identified modelling and risk transfer as areas of focus.
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As of December 31, 2021, policyholders have filed 434,633 claims of all types from Hurricane Ida, with 83% of them already closed.
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The company will use the funding to invest in new software hires and expansion in Hong Kong and Madrid.
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State Senator Jeff Brandes withdrew his amendment to an insurance omnibus bill but said he would bring the concept back before the legislature.
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Axis did not share any insurance premium with capital partners in Q4, while reinsurance cessions continued.
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The company lowered its full-year core loss ratio 2.6 points to 55.1% and posted a $266mn full-year underwriting gain.
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The company’s DaVinci fund grew by $500mn as it took in a higher share of cat risk from the group.
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This is the first natural catastrophe loss under the World Bank series of ILS deals since 2019.
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The firm took $411mn of losses in December, up 940.5% year-on-year, but losses since April are still below the aggregate attachment of its latest Sanders Re deals.
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The insurer increased its occurrence treaty coverage by $300mn as the aggregate deal shrank, following a full loss to reinsurers in 2021.
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This was the second year the insurer drew down its full reinsurance limit.
